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BERLIN (Reuters) - The United States is already in a recession and it will be longer as well as deeper than many people expect, U.S. investor Warren Buffett said in an interview published in German magazine Der Spiegel on Saturday.
He said the United States was "already in recession" and added: "Perhaps not in the sense that economists would define it" with two consecutive quarters of negative growth.
"But the people are already feeling the effects," said Buffett, the world's richest man. "It will be deeper and last longer than many think."
Originally posted by grover
Those would be good... but really we had a chance in the mid/late 70's to really make a difference and we blew it.
We could have started retooling our economy then adapting more substainable and renewable resources, coverting homes and other buildings over to solar whereever possible and so on... and if we had started that then we could have created a boom that would last a century, while we had the time. We could start now but the desire is not in the government or business to do so.