Buffett Rules Out Double-Dip Recession Amid Growth

[OmahaBlueDog]

From Bloomberg via Yahoo Finance

-snip-


Warren Buffett ruled out a second recession in the U.S. and said businesses owned by his Berkshire Hathaway Inc. are growing.

“I am a huge bull on this country,” Buffett, Berkshire’s chief executive officer, said today in remarks to the Montana Economic Development Summit. “We will not have a double-dip recession at all. I see our businesses coming back almost across the board.”

Berkshire bought railroad Burlington Northern Santa Fe Corp. for $27 billion in February in a deal that Buffett, 80, called a bet on the U.S. economy. The billionaire’s outlook contrasts with the views of economists such as New York University Professor Nouriel Roubini and Harvard University Professor Martin Feldstein, who have said the odds of another recession may be one in three or higher.

“I’ve seen sentiment turn sour in the last three months or so, generally in the media,” Buffett said. “I don’t see that in our businesses. I see we’re employing more people than a month ago, two months ago.”


Read More at: http://finance.yahoo.com/news/Buffett-Rules-Out-DoubleDip-bloomberg-2228875511.html?x=0

[rfranklin]

1. Jobs....jobs...jobs...

Quite frankly, I don't care about business if there aren't any jobs being created. And not shitty service jobs. We need jobs that can feed and hours a family. Otherwise, we are no better than a banana republic.

[lumberjack_jeff]

2. The only relevance of "the economy" in a country of people is the jobs it creates. n/t

[CLANG]

6. He's not talking about jobs, but about earings.

He probably doesn't give a rats ass about jobs.

[rfranklin]

14. I never noticed him wearing an earing....

but I could see him in a simple string of pearls.

[CLANG]

17. ROFL! I just saw your post.

[Ian David]

3. I always confuse him with the Margaritaville guy. n/t

[OmahaBlueDog]

5. The economy is never bad in Margaritavliie

;)

[Ian David]

11. But someone's cornered the market on shakers of salt. n/t

[Drale]

4. I dont think the news outlets relize

that the more they talk about "double dip" rescessions the more they scare the common people, which will cause those people not to spend, which will send us into a deeper recession. If everyone would stop being so pessimistic, it would really help us toward recovery, because companies are not going to start hiring untill people start spending, therefor it is up to the people who are still employed, and can buy things, to buy things.

[CLANG]

7. I could probably buy some things, but I not sure what.

I don't really need anything right now. What should I buy?:shrug:


(sorry for the :sarcasm: - I couldn't resist!)

[Recursion]

8. How about a hovercraft?

Everybody needs one of those.

http://www.hovercraft.com/content/index.php?main_page=index&cPath=125&zenid=20l97c5pg3qlcu40209gl8kho3

[CLANG]

9. I don't have that much money. Maybe a few widgets?

[Recursion]

10. You can build one with a leaf blower or shop vac

And a large plastic sled. That might help out Home Depot...

[CLANG]

12. Cool! Do you have blueprints or schematics?

[Recursion]

13. Here are some sites with some

http://hubpages.com/hub/Hovercraft_Kit

http://www.instructables.com/id/Hovercraft/

http://www.hovercraft.com/content/index.php?main_page=index&cPath=5

http://amasci.com/amateur/hovercft.html

For inspiration, here's the hovercraft class I work on:



55 knots in calm seas.

[CLANG]

15. I wish I had an extra 85K laying around...

That winged 6 passenger that goes 75 MPH up to 6 feet above the earth's surface would be fun! You can even burst it above 20 ft to "fly" over other boats! No pilot license, and most likely a girl magnet!

On the other hand I'm married, so I'd have to forgo the girl magnet part. :evilgrin:

[CRH]

16. I think Buffett is correct, ...

As this administration has been saying, a slow but steady recovery is underway, for corporate America.

Main street and the real economy, the peoples economy, will recover slightly off the lows of 2008 and 2009, but, will not see significant improvement in jobs for several more years to come. Think about this, ... in the boom brought about by easy credit for anyone with a pulse, construction, mortgage, real estate, and retail were all sectors that were thriving, with everyone charging everything with half hearted whims of future repayment. 80% of all these sector job losses are not coming back soon, housing and real estate are a bust, retail lacks easy credit, and the normal citizen still has sizable debt and stagnating wages.

All of this adds up to long lasting high unemployment, with job creation unable to keep up with existing work force not to mention the youth coming of age. Sadly this appears to be, 'the new norm'.

There is nothing indicating change until new sustainable industries targeting energy, sustainable transportation, and living are created. These changes must be government sponsored and funded, while shifting toward fiscal integrity. Needless to say there is little cohesive political appetite within the democratic party for this, much less the congress as a whole. Corporatism seems to lack innovation and the desire, without guaranteed corporate welfare profit, with low tax bases, and a business as usual unfettered by regulation, environment. Thus the motive for hiring is impeded by philosophical foot dragging hoping for a new political environment that will curtail reform, and get on with the status quo race to credit induced total insolvency, public and private.

What it all adds up to is a jobless recovery staggering to support an aging infrastructure, promised entitlements, and a desire for continued over consumption, with all the bills already, well past due.

Hell of a mess with hope just another four letter word.

edit: for spelling