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Science Takes Center Stage at the White House
President Obama will sign an executive order Monday reversing the ban on federal funding for embryonic stem cell research. NY Times: Obama will avoid the debate over research on embryos themselves. Later: Obama will meet with high school finalists in the Intel Science Talent Search.
Buffett: Economy Has "Fallen Off a Cliff"
The billionaire investor tells CNBC Monday the economic crisis is very "close to the worst case" that he had imagined. But: Says conditions would be far worse if the Fed hadn't stepped in last September. Plus: Adds GOP has "obligation" to back Obama to help fight the economic war "in a big way." Watch video above. Read full [...]
World Markets Lower
Markets in Europe and Asia continue falling Monday-- Wall Street opens flat. Plus: World Bank announces the global economy, volume of trade would both shrink for the first time since WWII. NY Times: The rising dollar lifts the U.S. but adds to the crisis abroad.
North Korea Threatens "War"
Pyongyang warns of retaliation against anyone who blocks its planned satellite launch, which many fear will disguise a missile test. Comes hours before the U.S. and South Korea kick off annual training drills.
Fatal Blow
Obama aide Larry Summers urges leaders to put public money into the economy to boost demand and lift the world out of recession.
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Swampland
The Economy's Psychic Threshold
The most important sentence I heard last week came from Mark Zandi, the noted economist who has been advising both political parties on the economic crisis. "The difference between a recession, a very severe recession and a depression is a lack of confidence," he said. It is a troubling thought, even though it's not at [...]
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