Warren Buffett sees no sign of recovery yet
Last week, GE Vice Chairman John Rice told Atlanta reporters that he had not seen any signs of recovery.
On Wednesday, billionaire investor Warren Buffett told CNBC the same thing. Here’s the story link.
The recession, which officially began in December, 2007, already is long in the tooth.
But Buffett believes the economy will be “in a shambles this year and probably well beyond.”
He still thinks stocks will be attractive during the next 10 years, when compared with alternatives, such as Treasury bonds.
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One comment Add your comment
The Sarge
June 25th, 2009
5:13 am
Mr Buffett is simply stating the hard, unpleasant reality. Whereas the politicians will come up with nice (what I call) bedtime stories which are intended to leave that feel-good glow within the voter, it is a breath of fresh air to know that there are realists who just may be able to educate the vast population of people who want nothing more than a return to “the way it was”, all the while with absolutely no understanding of how we got to this abysmal situation in the first place. This is not at all unlike the spoiled kid who, after insisting on a daily diet of candy complaines about the “mean ole dentist” who had to subject the kid to the indignities of teeth drilling, only, following a period of visits, to revert to insisting, once again, on more candy. Perhaps we should stop feeling sorry for ourselves and hear the unpleasant truth.