Word: short
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Dates: during 2000-2009
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Geithner's rhetoric before the Senate raises the question: Is the less confrontational approach now history? The short answer: in tone, perhaps. But in substance, not a whole lot is likely to change. The young Treasury Secretary-designate knew the "manipulator" line would get a lot of attention, as it has. So the tone is already different. Further, though Beijing may not know this yet (and will be mortified to learn), some senior economic officials in the new Administration have made it plain that they have little use for SEDs. Some view them as pointless, time-consuming gabfests that accomplished...
...circulated to the contrary, show absolutely no sign of doing that. In November, the last month for which data is available, Beijing actually added $29 billion to its overall position in U.S. debt. (Beijing sold $9.2 billion of long-term U.S. Treasuries in November but bought $38.2 billion of short-term government notes.) Indeed, part of the reason short-term interest rates are so low in the U.S., as Council on Foreign Relations economist Brad Setser notes, is that foreign central banks - including China's - are doing the same thing private investors have been doing: pouring funds into short-term...
...Brenninkmeijer still insists, "the business of the century"? The signs from Abu Dhabi say we could see both. For all the excitement generated here by President Barack Obama, who pledged in his inaugural speech to "harness the sun and the winds and the soil," the short-term outlook for renewables is as grim as it is for other capital-intensive industries, if not more so. (See the 50 best inventions...
...despite short-term forecasts that could leave their balance sheets a sea of red, the general mood in Abu Dhabi was as sunny as the weather. That's because in the long term, developers of renewables know they'll win. Climate change aside, the simple fact that energy demand will continue growing rapidly once the downturn has ended means that new supplies will be needed. And no one - including oil giants of the Middle East - believe that fossil fuels alone will meet that gap. "This is absolutely going to scale big," says Frank Mastiaux, the CEO of the E.ON...
...legislation as proposed by the House - the Senate version is expected later this week - includes several provisions not traditionally associated with a short-term stimulus, such as an expansion of college grants, investments in renewable energies and a measure to modernize health-care records. Those are all longtime items on the Democratic agenda and Obama campaign promises. Obama had hoped he could get away with such far-reaching measures by also making tax cuts a large part of the bill, but the House version ended up with fewer tax cuts than he had envisioned. Not surprisingly, Republicans in the Senate...