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...inventory] liquidation among businesses. I expect nothing from consumer [spending] and nothing really from housing or really any of the standard cyclical leading sectors. It's hard to put a number on GDP growth rates, but let's say 4% in the first half and then 2% in the second half, which would basically call for some additional help. (See TIME's 2009 Person of the Year: Federal Reserve Chairman Ben Bernanke...

Author: /time Magazine | Title: Pimco's Bill Gross Sees 2010 as Year of Reckoning | 1/5/2010 | See Source »

...talking about a second shot of federal stimulus? Yes. Something else is probably needed if the [government's] thrust is really reducing unemployment below double digits and renormalizing the economy. (See questions and answers about retirement...

Author: /time Magazine | Title: Pimco's Bill Gross Sees 2010 as Year of Reckoning | 1/5/2010 | See Source »

...statements suggest that they really want to exit in some fashion from the buying program. The first step in that direction, logically, would be to stop buying, and our sense is that they're at least going to try that. But based on our forecasts for the second half of the year, they may have to reinitiate it, and that will be difficult to do once they stop because it then becomes a political hot potato...

Author: /time Magazine | Title: Pimco's Bill Gross Sees 2010 as Year of Reckoning | 1/5/2010 | See Source »

...Would a second federal stimulus package improve your outlook? It would help the economy, and if applied through Fed programs in terms of outright purchases of assets, yes, I think it would help the markets. I do sort of expect another stimulus program in 2010 at some point, but it can't be a big one, because the American public and indeed the rest of the world is increasingly demanding some type of fiscal discipline...

Author: /time Magazine | Title: Pimco's Bill Gross Sees 2010 as Year of Reckoning | 1/5/2010 | See Source »

With the Harvard lead down to seven and under two minutes to play, Lin set his feet and drew a charge from Bronco guard Robert Smith, who had beaten his counterpart to the hoop earlier in the second half. The offensive foul silenced a raucous home crowd, and the Crimson would close out the win at the free throw line...

Author: By Dennis J. Zheng, CRIMSON STAFF WRITER | Title: Casey's 27 Lead Harvard Past Santa Clara | 1/5/2010 | See Source »

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