Billionaire Warren Buffett thinks the U.S. still in recession, despite an influential economic institute said this week that the economic downturn had ended over a year ago. “We’re still in recession,” Buffett said in an interview broadcast Thursday on CNBC. “We will not leave there for a while, but we will,” he predicted.
On Monday, the National Bureau of Economic Research said the U.S. economy out of recession 18 months in June 2009, but has clarified that this did not mean that the activity has returned to normal . Buffett defends its definition of recession is different from the NBER. For the billionaire investor, the economic downturn ends when the per capita GDP back to levels seen before the start of a crisis.
President Barack Obama said Monday the weak economy “remains very real for millions of Americans who are unemployed, have broken down the value of their properties or are involved in debt.” Buffett, 80 and one of the world’s richest men, presiding Berkshire Hathaway, which handles about 80 companies. “A large majority” of these companies are “picking up slowly,” he said.
On Tuesday, the Fed has already lowered interest rates almost to zero, said he is prepared to give an additional stimulus to the U.S. economy if necessary. “We’ve used a lot of bullets. And we talked about incentives, but the truth is we have a federal deficit of 9% of GDP,” Buffett warned.
kudos to you for writing such an amazin blog my friend, you are very talented & you should be proud of your writing skills! I’m sure you got a high score on the sats lol