Warren Buffet: Economy in Shambles; No signs of recovery yet

In a live interview on CNBC today, Warren Buffett said there has been little progress over the past few months in the "economic war" being fought by the country. "We haven't got the economy moving yet."

While the economy is a "shambles" and likely to stay that way for some time, he remains optimistic there will eventually be a recovery over a period of years.

www.cnbc.com...

More proof the bailouts served no other purpose than to keep up appearances?

Mod Edit: All Caps – Please Review This Link.


[edit on 24 Jun 09 by Gools]

But the stock market has been going up! I thought it was all over!

It seems we can buy American and it does affect our over seas suppliers.
U.S. Economy: Goods Orders Unexpectedly Jump as Recession Eases

June 24 (Bloomberg) -- Orders for U.S. durable goods unexpectedly jumped in May, a sign companies are gaining confidence the recession is easing.

The 1.8 percent rise in bookings for items meant to last several years matched the previous month’s increase, the Commerce Department said today in Washington. Another report showed sales of new houses unexpectedly dropped last month, indicating foreclosures made existing homes more attractive.

Meanwhile over in Japan.



Japan exports fall 40.9 percent in May

Associated Press
7:10 AM PDT, June 24, 2009

TOKYO -- The slump in Japan's exports showed little sign of relenting in May, with auto exports to the U.S. down more than half, adding to doubts about a quick recovery from the global recession.

Exports from the world's second-largest economy plunged 40.9 percent from a year earlier, accelerating from a 39.1 percent fall in April, the government said today, as consumers overseas bought fewer of the country's cars, electronics and other mainstay exports.

Buffett was right when he said the "economy walked off of a cliff" (hope that is pretty close) ...he was right.

Now it is laying at the bottom of the cliff....
Soon to become a Zombie.

reply to post by burntheships


after it fell off the cliff, the cliff collapsed on top of it burying it for good