Tuesday, September 14, 2010

Buffett: Prospects for a Double-Dip Recession

Buffett spoke yesterday on the performance of the broader economy. Obviously, there's been a bit of a media obsession with the possibility of a double-dip recession in recent months. Some examples:
Buffett's comments from this Bloomberg article:

"I am a huge bull on this country...We will not have a double-dip recession at all. I see our businesses coming back almost across the board."

Later in the article he also said while sentiment turned sour in the media but he's not seeing it in the businesses Berkshire Hathaway owns. He thinks they'll be employing more people than in the past couple months or so.

Finally, Buffett added it was "night and day" from a year/year and a half ago.

It will be tough to convince some of this until the financial crisis moves further into the rear-view mirror.

Adam

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