Word: bille
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...Jeff Immelt said that the economy was in as bad a shape as at any time since the 1974 recession. If it should get worse, he remarked, "Once you break through '74-'75, you don't stop 'til you get to 1929." At almost the same hour, Bill Gross, the undisputed king of the fixed income world and chief of investments at Pimco stated "the U.S. may slump into a 'mini depression' unless policy makers spend trillions of dollars to spur growth." He did not make the distinction between a "mini depression" and one of normal size but his comments...
...President Obama seized on the dire numbers to renew his call for action on the stimulus bill that is currently bogged down in negotiations in the Senate. At an appearance to introduce his team of outside economic advisers, Obama said the job numbers signaled "an urgent and growing crisis" and called further delay on the stimulus bill "inexcusable." "If we fail to act," he said, "this crisis could become a catastrophe." (See the top 10 financial collapses...
...mosquitos • release of into the audience at TED conference by Bill Gates because "not only poor people should experience this...
...move is opposed by most Republicans, and Senate minority leader Mitch McConnell has demanded that it be stripped from the bill. Major U.S. companies like General Electric and Caterpillar have also opposed the provision, saying it will hurt their ability to win contracts abroad - and impose layers of bureaucracy on what is already likely to be a cumbersome contracting process...
...face of the criticism, Obama sent out signals on Tuesday that he was prepared for a rethink. He did not promise to remove "buy American" but said he would take another look at the language in the bill. "I think we need to make sure that any provisions that are in there are not going to trigger a trade war," he told TV network ABC. And speaking to Fox News, he said, "I think it would be a mistake though, at a time when worldwide trade is declining, for U.S. to start sending a message that somehow we're just...