Buffet Economy in Shambles!
The Economy Proves that Actions Speak Louder than Words!
People tout Warren Buffet as the economic guru of our time. Although he is in bed with Obama hoping to dig gold from the government trough as other execs he does hit the nail on the head. He won’t go so far as to put the blame where it belongs, on President Obama government authoritarian policies. The reality is as Buffet describes, the economy is in shambles and will be well beyond!
Well, it’s been pretty flat. I get figures on 70-odd businesses, a lot of them daily. Everything that I see about the economy is that we’ve had no bounce. The financial system was really where the crisis was last September and October, and that’s been surmounted and that’s enormously important. But in terms of the economy coming back, it takes a while. There were a lot of excesses to be wrung out and that process is still underway and it looks to me like it will be underway for quite a while. In the (Berkshire Hathaway) annual report I said the economy would be in a shambles this year and probably well beyond. I’m afraid that’s true.