OBAMA TELLS CHINA TO HAVE CONFIDENCE

In an unusual defense of the U.S. economy, President Obama declared Saturday that foreign investors can have "absolute confidence" in Treasury bonds and other U.S. investments.

Obama, responding swiftly to Chinese worries about their trillion-dollar investment in U.S. government debt, said the U.S. economy remains the most vibrant in the world and continues to attract foreign money even amid its deep recession.

His comments came less than a day after Chinese Premier Wen Jibao said he was "definitely a little worried" about Chinese holdings of U.S. bonds.

The exchange was an unusual public commentary on the soundness of the U.S. economy.

U.S., BRAZIL HAVE MEETING OF MINDS

President Obama and Brazilian President Luiz Inacio Lula da Silva discussed the economy, energy and the environment Saturday during their first White House meeting.

"I have been a great admirer of Brazil and a great admirer of the progressive, forward-looking leadership that President Lula has shown throughout Latin America and throughout the world," Obama said afterward. "The president and I had a wonderful meeting of the minds."

In a lighter moment, Silva said he tells people at rallies in his country that he prays more for Obama than he does for himself. With so many problems facing Obama in his short time in office, "I don't want to be in his position," Silva said.

To which Obama added: "I'll tell you what. You sound like you've been talking to my wife."

G-20 NATIONS FAIL TO FORM UNITED FRONT

Still divided over the best way to fight the global economic downturn, finance officials of the leading industrial nations agreed Saturday to commit more money to help developing countries, step up efforts to revive bank lending and regulate hedge funds.

Their statement was aimed at reassuring markets that the group shared common goals. "We have taken decisive coordinated and comprehensive action to boost demand and jobs," it said, "and we are prepared to take whatever action is necessary until growth is restored."

But the ministers of the so-called Group of 20 nations stopped short of announcing any details, a signal that beneath the pledges of cooperation, a trans-Atlantic rift remained over whether government intervention should emphasize more regulation or stimulus spending.

Saturday's meeting in Horsham, England, was a precursor to the G-20 summit April 2 in London, where the world leaders will attempt to reach an agreement on how to stem the global economic tailspin.

Treasury Secretary, Timothy Geithner took pains Saturday to present a united front, saying that the world was committed to increasing consumer demand -- despite stated European reluctance on that matter. "The world is with us on this," he said. "We will do what is necessary to get the economy moving again."

But the German finance minister, Peer Steinbrueck, stressed that any economic stimulus must work itself through the system before governments can contemplate further steps to revive consumer demand.

Germany's view, shared by France, stands in conflict with that of the United States, Britain and Japan, which pressed for further stimulus packages.

PROOF OF DOWNTURN IS FOUND AT DUMP

Along with the stock market and the foreclosure rate, a less-heralded barometer has signaled the arrival of hard times: the landfill.

In an extravagantly wasteful society that typically puts 254 million tons of unwanted stuff at the curb to be thrown away each year, landfill managers say they knew something was amiss in the economy when they saw trash levels start steadily dropping last year. Now, some are reporting declines as sharp as 30 percent.

"The trash man is the first one to know about a recession because we see it first," said Richard Weber, manager of the Loudoun County, Va., landfill.

It's all part of the cycle of stuff that people in the trash business say they've seen in every economic downturn since the end of World War II. People don't buy stuff, so there's less packaging to toss. With a drop in demand, manufacturers make less, creating less waste. More vacant homes and fewer people in a community mean less trash. A stagnant housing market means less construction debris. On tight budgets, people eat out less, so restaurants order less, so there's less to throw away. Landscapers are out of work, so there's less yard debris.

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