Buffett Says US Economy Essentially in a Recession, Expects Tough Ride for Insurers

Buffett Says US Economy Essentially in a Recession, Expects Tough Ride for Insurers

biz.yahoo.com

OMAHA, Neb. (AP) -- Billionaire Warren Buffett said Monday that the U.S. economy is essentially in a recession even if it hasn't met the technical definition of one yet.

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This is the exact opposite of what Bush said just a few days ago. I believe it is about to hit the fan.

biz.yahoo.com
(visit the link for the full news article)

Buffet is a billionaire he wants his son to sit on the Barnanke seat as he is already in the fed board.

He talks about recession but he has nothing to worry about it anyway, so for him and his billions and with a son in control of the fed, he is right his children are going to have better than he did.

But the rest of the dying middle class and the poor in this nation is going to be a long recession indeed.

[edit on 3-3-2008 by marg6043]