From Pragmatic Capitalism:

PIMCO CEO and co-CIO Mohamed El-Erian was on Bloomberg earlier today discussing the outlook for the economy and market. It's interesting to note that the PIMCO stance on QE appears to have shifted dramatically in the last year. They've now come around to the position that I have long maintained – QE just doesn't do much….There's much more from Bloomberg:

El-Erian on the unpredictability in global markets leading to extreme events around the world:

"Normally, we're used to thinking of...

Read full article (with video)...

More from Pimco:

Pimco's El-Erian: U.S. economy is "terrifying"

Pimco: Emerging market stocks are "very, very cheap"

Pimco’s El-Erian: Europe could get much worse from here