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Showing posts with label Forbes. Show all posts
Showing posts with label Forbes. Show all posts
14 February 2009
05 February 2009
Gates' message to US regarding tough economy
Microsoft Corp founder Bill Gates foresees another three-to-four "very tough" years for the U.S. economy. For dummies like me Bill Gates has been named by Forbes magazine as the richest person in the United States for the 15th straight year.
Gates, made those comments at the annual Technology, Entertainment, Design conference in California on Wednesday, called on governments to keep investing in education and healthcare. These comments on the economy came as U.S. Gross Domestic Product shrank by a 3.8 percent annual rate in the fourth quarter, according to government data. "No doubt, we've got three or four years here that are going to be very tough," Gates warned the industry executives and business leaders. "We're going through a period ... where a 50-year credit expansion has moved to contraction. "You're going to have a number of years where aggregate demand is low," he said.
Gates, made those comments at the annual Technology, Entertainment, Design conference in California on Wednesday, called on governments to keep investing in education and healthcare. These comments on the economy came as U.S. Gross Domestic Product shrank by a 3.8 percent annual rate in the fourth quarter, according to government data. "No doubt, we've got three or four years here that are going to be very tough," Gates warned the industry executives and business leaders. "We're going through a period ... where a 50-year credit expansion has moved to contraction. "You're going to have a number of years where aggregate demand is low," he said.
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