Buffett sees "long, deep" U.S. recession
Warren Buffet, a U.S. investor and purportedly the worlds richest man is predicting that the current recession he believes that America is in will last much longer and run much deeper than many people currently believe.
Buffet asserts that America is
"already in recession" and added: "Perhaps not in the sense that economists would define it" with two consecutive quarters of negative growth.
Buffet went on to say;
"But the people are already feeling the effects," said Buffett, the world's richest man. "It will be deeper and last longer than many think."
While I do not necessarily think his ability to read the crystal ball as an analytical economic forecaster is infallible I do value his opinion on the subject as do millions of others around the globe. He has managed to amass a rather sizeable fortune and he must know something about economic indicators and markets to keep from losing his amassed fortune. I’d suggest that you go and read for yourself the article. It is based upon an interview published in German magazine Der Spiegel on Saturday.
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