Bill Gross, co-founder of bond behemoth Pimco, has been warning for years that the global economy is vulnerable to a “new normal” of low growth. Now, he is more concerned about the impact of the paranormal.

Metaphors abound in his latest newsletter entitled 'Towards the Paranormal'. He wrote: "We appear to be morphing into a world with much fatter tails, bordering on bimodal. It is as the earth now had two moons instead of one and both are growing in size like a cancerous tumour that may threaten the financial tides, oceans and economic life as we have known it for the past half century. Welcome to 2012."