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Buffet's Reality

Warren Buffett is one of the worlds most respected experts in the realm of “high finance”. He’s made himself, and his investors a whole lot of money over the years, and in a manner that is perhaps more responsible than any other money man in history. So when Buffett says the current recession will be “longer and deeper than many may think”, his words carry a weight unparalleled, except, perhaps, for those of the former FED chairman, Greenspan.

Here is the article. There are no specifics, but it’s harrowing considering who it comes from, and looking at the reality of consumer prices shooting through the roof.

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Steve Ross

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Comments

  1. sbvor

    Notorious activist for the Democratic Party (and, therefore, media darling), Warren Buffet, continues to pimp for an imaginary recession.

    Imaginary? Yep! Even Buffett admits that his imaginary recession is:

    “not [a recession] in the sense as defined by economists”

    Rather, the #1 Democratic cheer leader for the imaginary recession declared it’s all about how people are “feeling”. Well, DUH! The freaking media have been ramming this doom and gloom FICTION down their throats for at least the last six months! It’s no wonder the naïve little lemmings are now “feeling” like they’re in a recession (when even Buffett himself admits they’re NOT).

    The “report” goes on to note:

    “Omaha-based Berkshire has about $35 billion in cash and is looking to invest.”

    Is Buffett looking to drive the markets down in search of the value plays he is known for? I would not presume to know.

    Remember, even The San Francisco Chronicle has already debunked Buffett once.

    Also recall, Buffett freely admits that he:

    “never made any money out of economic forecasting”

    Meantime, the professionals whose income depends upon accurate economic forecasts, continue to forecast economic growth in every quarter of 2008.

    It is increasingly unlikely that we are currently in a recession or that we will be at any point in 2008:
    ================================
    The Recession of 2008 That Wasn’t?
    ================================

    Reply

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