toyota, though, down by 2%. >>> bill gross is founder and co-chief investment officer of pimco. he oversees the largest bond fund in the world, pimco's total return fund. and he has had some pretty strong words recently about the debt in the u.s. bill joins me now to talk more about it. bill, great to see you. thanks for joining us. >> thank you, maria. >> the economy creating 244,000 new jobs last month, better than expectations. how would you characterize it? the unemployment rate at 9%. what does this tell us about where we are in the jobs market? >> well, it was a good report, maria, and some positive revisions for prior months. you know, i suspect we're going to see a few more good months of job growth. but it's probably not enough to reduce that unemployment rate. i mean our 9% unemployment rate is the highest in the g-7 countries aside from france. and it has -- and suggests significant structural problems in housing and retail that probably aren't going to go away. so i would think even a 200,000 plus jobs number in months going forward would fail to reduce that unemploy

pimco's bill gross-- one of the nation's most respected bond investors-- sold nearly all of his firm's government bonds in february. on our air, gross explained that he's worried about where demand for treasuries will come from once the fed exits the market. >> to the extent they don't buy on an annualized basis, most of the deficit-- that's $1.5 trillion-- then somebody else has to. and that typically results in higher yields and lower prices. >> reporter: however, the far more common view on wall street is the one held by u.b.s. economist drew matus. >> we don't look for the end of qe2 to be a major event in markets. perhaps interest rates move up a few basis points. but truth be told, there's just as good of a reason why interest rates may move down a little bit. >> reporter: he does see one way america is likely to feel the impact of the end of qe2: a drop in economic growth. the good news is the decline is expected to be small and last only a few months. >> the u.s. economy is doing reasonably well. once again, we're in this position where everyone keeps talking about the u.s. eco

big buyers we think that's an underlying trend that's very favorable for gold that's right well bill gross is lame fund other pimco. due to the way that the fund of the charter that created that fund he's not allowed actually to own precious metals but he's a believer in inflation if not hyper inflation so you would naturally think you'd be a buyer of gold so here's one of his satellite phones actually buying gold so now the circle has been completely pimco is pimping gold as he should be in this environment where the bond market will get creamed well there are also as gold and silver have corrected over the last two or three weeks that they've had big declines silver up to thirty percent there's been all sorts of shouting and screaming especially in the b.b.c. saying it was a bubble it's burst it's popped so what do the sort of people who do you trust for example the largest bond fund trader in the world or the b.b.c. i trust the actual people who are dealing with money day to day not the lackeys of the b.b.c. who are an extension of the corrupt government and after the hutton affair of c

years ago i noticed your brother in there in the money management space for example you've got bill gross over there pepco mark farmer famously also joining this chorus of those who are selling u.s. government treasury bonds and even shorting u.s. government treasury bonds you have also pointed to this trade as a something to look at what about that idea because not only is it about let's say positioning a portfolio to avoid the risk of owning this u.s. government bond but these folks and possibly yourself becoming a lot more aggressive because they are shorting those bonds are taking quite a an action that as we know with the money flows around the world can actually help precipitate the outcome if you know what i mean what were your thoughts there well you know the only problem with shorting the bonds is that the government can print money and keep buying them and that will ultimately prevent bond prices from falling but if they do that then the dollar. absolutely and so you're probably better off if you're bearish on treasuries and you're probably a safer trade is just a short a dollar

a company called pimco led by bill gross, a famous man in the world of fixed income security.s not only sold all of his u.s. securities but he is selling them short on top of that. you have a lot of indications that something might happen if we don't do anything about it. everybody believes we are running out of gas. we have been running on empty tank fiscally for a decade now. we have to address the problem, because sooner or later it is going to blow up in our faces. nobody knows exactly when. but this is not a saga we can just continue going as if we can run up and continue the debt. >> mort has got it absolutely right. it's not wall street is concerned over the specific vote of raising the debt limit they were concerned about the debt. >> exactly. >> this effort by republicans to try to use the leverage provided by certain urgency involved in the raising of the debt limit, i think is probably going to be broadly supported by the public. it may be the only way to get anything big done at a time in divided government, because it creates a powerful incentive to do something.

we call up bill gross and bond traders and economists and have them come into the committee and ask how much time we have. they all say 2-5 years. that's the answer i get from every one of the people who seem to be the ones monitoring the credit market. there is a sense of urgency. it's not extremely immediate, but it's in the near future, and i think people just have to understand -- that's why i've done over 500 town hall meetings in southern wisconsin on this topic over my -- >> do you need to be doing more around the country? >> i've done 19 in southern wisconsin, so i think i did a pretty good job there. across the country -- we need to be doing more across the country. we just deployed 243 house republicans over the last two weeks who went out and did the town hall meetings. for our side of it, house republicans, and i talked to dozens of members yesterday who were excited about their town hall meetings, delivered the message to their constituents, came back energized like i did. the people are ahead of the political class, and i really believe that people, when think -- they see

bill. >> that's why they're gross and they got on your car you can't get them off. trust me. i lived in florida. it was a mess. the big story continues for the next two or three weeks. in vicksburg we have the record crest on the 19th. that's a week from now. baton rouge, record levels not until the 23rd of this month. then after that they divert the water, so we do not expect record flooding in new orleans. we had severe weather yesterday and we had 12 turnds, mostly nebraska and iowa the hardest hit. that's going to continue to be the big storm system around the snow there to colorado. in the west coast all is calm in the four corner region in southern california. storm system dragged that cold front through the northwest. that brought showers yesterday. there's not a lot of wet weather with it. probably more clouds than you'd like. temperature of 58 in seattle. we're warmer in vegas today and phoenix and los angeles, about 10 degrees cloudy and cool. temperatures are around 60 degrees if you're lucky and stam for pendleton, oregon. friday forecast is next. >> thanks so muc

we call up bill gross and bond traders and economists and have them come into the committee and ask how much time we have. they all say 2-5 years. that's the answer i get from every one of the people who seem to be the ones monitoring the credit market. there is a sense of urgency. it's not extremely immediate, but it's in the near future, and i think people just have to understand -- that's why i've done over 500 town hall meetings in southern wisconsin on this topic over my -- >> do you need to be doing more around the country? >> i've done 19 in southern wisconsin, so i think i did a pretty good job there. across the country -- we need to be doing more across the country. we just deployed 243 house republicans over the last two weeks who went out and did the town hall meetings. for our side of it, house republicans, and i talked to dozens of members yesterday who were excited about their town hall meetings, delivered the message to their constituents, came back energized like i did. the people are ahead of the political class, and i really believe that people, when think -- they see

we call up bill gross and bond traders and economists and have them come into the committee and ask how much time we have. they all say 2-5 years. that's the answer i get from every one of the people who seem to be the ones monitoring the credit market. there is a sense of urgency. it's not extremely immediate, but it's in the near future, and i think people just have to understand -- that's why i've done over 500 town hall meetings in southern wisconsin on this topic over my -- >> do you need to be doing more around the country? >> i've done 19 in southern wisconsin, so i think i did a pretty good job there. across the country -- we need to be doing more across the country. we just deployed 243 house republicans over the last two weeks who went out and did the town hall meetings. for our side of it, house republicans, and i talked to dozens of members yesterday who were excited about their town hall meetings, delivered the message to their constituents, came back energized like i did. the people are ahead of the political class, and i really believe that people, when think -- they see

dark host the mid table battle against so on and little might seem to make on group bill it's low scoring terry gross knee and has always been a managerial casualty of the russian crime a league stalled have parted company with a live broadcast of following their russian cup and sit on the southern side failed to score a goal and this i mean finally go online and bows out after a penalty shootout win would have seen them secure a place in the europa league which instead goes to the second tier opponents and that was an all for example of the handing his resignation the ukrainian follows. the departures of anonymous schools' drug but any carpenter of step down to acting coach that's our fact not still. in the english game meanwhile the football association have charged sir alex ferguson with improper conduct a day before his manchester united side could have records nineteenth premier league crown ferguson made comments about for a free howard webb before that the ones went over to chelles st even though ferguson spoke positively about the official he broke f.a. rules which say no manage it should spe

bill of 2009. there is the dark line which is a change in gross per-capita use overtime in san francisco. this is literally all of the water that crosses the county line in san francisco. current water use is at 85.6 gallons per day. everyone would have to take a share of that. that is below 100 gallons per capita per day. the last average is at 92.2 per day. this is under the way you calculate compliance with the water conservation act. that does not mean we will not do additional conservation but san francisco is really out there in terms of party complying with low water use. 85.6 gallons, sometimes you hear other numbers turn around like 51 gallons per capita which is residential water use in the san francisco. the gross number is calculating all of the water used in san franciscoslashthe number of residents. you will hear the key numbers. -- dues to san francisco -- used in san francisco divided by the number of residents. first, we are in the process of working to secure additional supplies to meet the shortfall due to the flow requirements that are required for the calaveras dam pr

it's one of several bills now under consideration in the aftermath of the death of nurse donna grossat napa state hospital. >>> there is word tonight that former napa state hospital patient jess massey will face charges in gross' death. >>> we'll show you how the killing of osama bin laden is already being commemorated in pop culture. >>> also ahead, we take a closer look at the black hawk helicopters used in the raid on osama bin laden's compound. the one thing helicopters have that may have kept those navy seals alive. >>> and it was warmer today. the wednesday are switching around. it is going to be warmer tomorrow, perhaps even hot in your neighborhood. i will show you which areas will be the hottest. free access to chase atm's wherever you are. that's a step forward. chase customers can avoid atm fees with over 16,000 nationwide. take a step forward and chase what matters. >>> in august intelligence agents tracked him to the abbottabad complex. >>> senator feinstein told reporters her intelligence committee was first briefed on it in september. she said pineta gave her a heads u

grossing companies on the list? and where are they getting their money? >> announcer: from the global resources of abc news, with terry moran, cynthia mcfadden and bill weir in new york city, this is "nightline," may 4th, 2011. >> good evening, i'm terry moran. president obama today explained his decision not to release photos of osama bin laden's corpse. certainly, there's no doubt among al qaeda members that he is dead, the president told cbs news. the fact of the matter is, you will not see bin laden walking on this earth again. the president is to visit ground zero tomorrow to mark the moment so many americans have waited so long for, and new details emerged today of how that incredible mission was pulled off. here's brian ross. >> reporter:er the ri er thterr president chose to send u.s. navy s.e.a.l.s instead of bombing it to the compound, so there would be no doubt of the bin lad bin l al qaeda leader. but pictures were deemed too gruesome to show and not in the best interest of the country. there does not seem to be widespread doubt that bin laden is dead. the taliban acknowledged his death in vowing revenge against america. we will attack both u.

bill work its will and deal with it. we're looking at a state where 60% of the tax filers have adjusted low -- adjusted gross incomes of lessllars. so if we don't do this and you want to put the democrats back in power, that could happen. that certainly could happen. anything could happen here in wisconsin these days. but it means a heck of a lot of taxation, and a heck of a lot of deficit. >> all right. senator, look, unfortunately time has run out. i've got to say i'm confused by your invoking the budget. the premise of your passing the bill separate from the budget is that it had no fiscal impact. it seems you have the votes, if you have the backbone, you have the guts, you still believed in it, you would vote on if t again. thank you very much for joining us -- >> we have it without the fiscal because the democrats weren't there to do the fiscal. >> all right. we'll continue the conversation. i promise we will. >>> up next, israel's prime minister appeared before congress like a conquering hero. fareed zakaria says he missed a golden opportunity to be a peacemaker. building up our wireless network all across america. we