Warren Buffett: U.S. Is In Recession

Tells German Magazine It Will Be "Deeper And Longer" Than Expected

(AP)  Warren Buffett, whose business and investment acumen has made him one of the world's wealthiest men, said in an interview published Sunday he believes the U.S. economy is already in a recession.

Asked by Germany's Der Spiegel (links to German site) whether he thinks the U.S. could still avoid a recession, he said that as far as the average person is concerned, it's already here.

"I believe that we are already in a recession," Buffet was quoted by Spiegel as saying. "Perhaps not in the sense as defined by economists. ... But people are already feeling the effects of a recession."

"It will be deeper and longer than what many think," he added.

The 77-year-old chairman and chief executive of Berkshire Hathaway Inc. was in Europe last week for what he called a "deferred shopping tour," looking for possible acquisitions.

Omaha-based Berkshire has about $35 billion in cash and is looking to invest. Berkshire's subsidiaries include insurance, clothing, furniture, natural gas, corporate jet and candy companies. Berkshire also has major investments in such companies as Coca-Cola Co. and Anheuser-Busch Cos.

[gopsoccermom]

Bush says everything is fine! Just what gives this guys word so much weight?

[terrorislami]

never pay fascist nazi terrorislam tribute,,, never,,,

Kipling poem %u201CDane-Geld%u201D

It is always a temptation to an armed and agile nation
To call upon a neighbor and to say:%u2014
%u201CWe invaded you last night%u2014we are quite prepared to fight,
Unless you pay us cash to go away.%u201D

And that is called asking for Dane-geld,
And the people who ask it explain
That you%u2019ve only to pay %u2019em the Dane-geld
And then you%u2019ll get rid of the Dane!
Kipling runs briskly through the stages of humiliation undergone by any power that falls for this appeasement, and concludes:

It is wrong to put temptation in the pathof any nation,
For fear they should succumb and go astray;
So when you are requested to pay up or be molested,
You will find it better policy to say:%u2014

%u201CWe never pay any-one Dane-geld,
No matter how trifling the cost;
For the end of that game is oppression and shame,
And the nation that plays it is lost!%u201D

It may be fortunate that the United States had to pass this test, and imbibe this lesson, so early in its life as a nation.

[jimfinster]

terrorislami:

You are part of the problem, not part of the solution.

The childish name calling and blind political allegiance will never resolve anything.....

[terrorislami]

Posted by jimfinster at 01:08 PM : May 27, 2008

demonic-rat communist/socialist policies do not work,,, even the commie chinese know that now,,,

capitalism works,,, nothing else does,,,

only those blinded by their hate for america bets against america,,,

when america sneezes,,, the world catches pneumonia,,,

[terrorislami]

the defeat of fascist nazoi terrorislam,,,

%u201CIt is a settled policy of America, that as peace is better than war, war is better than tribute. The United States, while they wish for war with no nation, will buy peace with none.%u201D President James Madison

[jimfinster]

terrorislami:

You have your head buried way too deep in political ideology. It ain''t always about Dem vs Rep. There is a bigger picture to be seen, if one has the intellectual capacity to see it.

[lochlan-2009]

"It will be deeper and longer than what many think," he added.

He must be talking about the neo-cons, since everyone here has been trumpeting this for about half a decade now.

[terrorislami]

america stands up to fascist nazi terrorislam,,,

But one cannot get around what Jefferson heard when he went with John Adams to wait upon Tripoli%u2019s ambassador to London in March 1785. When they inquired by what right the Barbary states preyed upon American shipping, enslaving both crews and passengers, America%u2019s two foremost envoys were informed that %u201Cit was written in the Koran, that all Nations who should not have acknowledged their authority were sinners, that it was their right and duty to make war upon whoever they could find and to make Slaves of all they could take as prisoners, and that every Mussulman who should be slain in battle was sure to go to Paradise.%u201D (It is worth noting that the United States played no part in the Crusades, or in the Catholic reconquista of Andalusia.)

Ambassador Abd Al-Rahman did not fail to mention the size of his own commission, if America chose to pay the protection money demanded as an alternative to piracy. So here was an early instance of the %u201Cheads I win, tails you lose%u201D dilemma, in which the United States is faced with corrupt regimes, on the one hand, and Islamic militants, on the other%u2014or indeed a collusion between them.
http://www.city-journal.org/html/17_2_urbanities-thomas_jefferson.html

[terrorislami]

Posted by jimfinster at 11:42 AM : May 27, 2008

you mean traitor dimmy kkkarters definition,,,

nothing succeeds like success

from the dimmy kar-ter years of double digit unemployment, double digit inflation rate and double digit house mortgage interest rates, car loans were like going to a loan shark

reagan years brought single digit unemployment, single digit inflation and single digit house mortgage rates

vote demonic-rat to reward the deadbeat parasites spendthrifts

vote gop to reward the workers, frugal savers, investers, job creaters

even a dishwasher can become financially independent and secure under capitalism

"Ask not what your country can do for you. Ask what you can do for your country." - John F. Kennedy, Inaugural Address, Jan. 20, 1961

The first requisite of a good citizen in this Republic of ours is that he shall be able and willing to pull his own weight. Theodore Roosevelt

[terrorislami]

fascist nazi terrorislam

In a way, I am glad that I did not have the initial benefit of all this research. My quest sent me to some less obvious secondary sources, in particular to Linda Colley%u2019s excellent book Captives, which shows the reaction of the English and American publics to a slave trade of which they were victims rather than perpetrators. How many know that perhaps 1.5 million Europeans and Americans were enslaved in Islamic North Africa between 1530 and 1780? We dimly recall that Miguel de Cervantes was briefly in the galleys. But what of the people of the town of Baltimore in Ireland, all carried off by %u201Ccorsair%u201D raiders in a single night?
http://www.city-journal.org/html/17_2_urbanities-thomas_jefferson.html

[tejasdemo]

The definition of a recession folks is the period of time after a Republican administration has taken over the govt.

Has the US ever been under the direction of a Republican administration and not been under a recession for a sustained period of time during their time in office ? the answer is NO.

[jimfinster]

terrorislami:

You are not quite so smart. Do a little research, and you will see the govt calculates the financial data was changed years ago. They don''t want to scare the poor dumb citizens. We are now in a recession by the old accounting system....

[tejasdemo]

Ya think Warren ? !

Gee thanks for the heads up !

These guys all think we are stupid ( speak for the Republicans Warren-they are the absolute idiots who got us in this mess !)

[terrorislami]

Posted by beehive21 at 10:30 AM : May 27, 2008

the value of the dollar is not the definition of a recession nancy,,,

it is not a recession until there are TWO consecutive quarters of negative growth,,, until that happens,,, it is all BS partisan propoganda,,,

[terrorislami]

demonic-rats always talk down the economy during election years,,, knowing that the liberal media will echo it and just like propoganda will convince the week minded,,,

it is not a recession until there are TWO consecutive quarters of negative growth,,, until that happens,,, it is all BS partisan propoganda,,,

[beehive21-2009]

We been in a recession for two years, wheres he been ? Everyones heard the Dollar was worth little compared too the Euro , Yen, Gin,.The Oil Companies are the Problem ,Nationalize Them, while they make record profits the Gov''t stands by without any windfall taxes, while we are being hammered at the store.The rise in Diesel fuel ,fueled higher prices across the board,smoke is on the Horizon, w/o change.

[forthepeopl1]

what a shock, someone thinks we are in a ression,

hey bush are you listen, how about you mr patato head paulson, and ben

[kennedy7955]

The comments from Buffett aren''t helpful and likely harmful.

[terrorislami]

Posted by brianbwb at 02:24 AM : May 27, 2008

no, shill for inbred retarded radical fascist nazi terrorislamic jihadists muslim slavers, murderers and rapists

i am laughing at you ignorant anti americanism,,,

hahaha

[nonayabiness]

Interesting to see the statistics posted on oil consumption in the US. 4-6% or so down from last year? Then, wow! There actually are some people besides me out there slowing down and carefully planning their necessary trips, foregoing optional ones.

I kinda like living in the save, save, save mode. Its rather addictive. I pay my bills, keep a little bit out for necessities spending, and all the rest goes to savings. My job is to not hit the savings before I get paid again.

You''d be amazed at how long $20 can last you if you really, really have to think about what you need to have versus want to have. Its a cool game.