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Buffett: US Essentially in Recession

biz.yahoo.com — Billionaire Warren Buffett says 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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  • jakeson2, on 03/04/2008, -66/+10Warren Buffett is a liberal democrat. He has endorsed Barack Hussein Obama for president. He is or has been short the American Dollar against the Euro. His billions in stock declares no dividends; as such pays no income tax on the dividends. He pays no sales tax when buying stock. He pays no property tax on his stock ownership of billions. He likes the "death" tax as a method of taking property from heirs. However his billions in stock will not pay the "death" tax as much of it will be given to a liberal charity, much of it overseas thus allowing his heirs to receive their share of the estate tax free. Dear readers, if you could avoid all those taxes would you be wealthier? Should we vote for Obama because this tax scofflaw states that we should? It is entirely in Warren Buffett's favor if the economy slows down as he can apply more of his non-taxed money to buy more distressed businesses. I accept Warren Buffett's method of making money, but I can't avoid the taxes as he does. Neither will I be able to give my small property to my heirs at death after Barack Hussein Obama or Hillary Rodham Clinton become President. Katie bar the door, tough times are coming for the average American.
    • dsendecki, on 03/04/2008, -1/+25Let's see if conservatives have middle names too! Oh they do! John Sidney McCain III will save us! Oh wait, no he won't. John McCain on whether or not the current tax system is 'fair': "Sure it's fair. The bulk of the taxes are paid by wealthy people."
    • NuFadZoo, on 03/04/2008, -4/+13What does this article have anything to do with Obama?
    • kh99, on 03/04/2008, -1/+15Which conservative propaganda outlet are you parroting?
    • elamr, on 03/04/2008, -1/+20Jake, I thought conservatives hated taxes. Buffett (like most of the wealthy in the US) are able to use legal methods to get money back each tax year. After your income hits a certain amount you don't have any other choice but to own realestate, a business or some other mechanism that feeds the system and gives tax benefits. Otherwise you get assraped by the US Govt. Don't be a victim jake... conservatives are not victims, right?

      ps: what the hell does "liberal charity" mean?
      • alex1015, on 03/04/2008, -0/+8Apparently he unintentionally meant that only "liberal democrats" donate to charity. His comment is too full of anger inflated by FoxNews to have any actual fact or reasoning.
      • siszam, on 03/05/2008, -2/+3I guess a "liberal charity" is anything that cares for children, the homeless or the poor. Republicans think people need help because they are lazy and worthless. The Republican answer is to cut more programs and give the money to corporations and rich people.
    • audioobsessed, on 03/04/2008, -0/+9I would consider Warren Buffet more of a moderat though his donations have been exclusively. When you go on you rant about shorting the dollar, I think you are probably talking about George Soros. Moreover, Buffet has stated that he is donating the Lion's share of his wealth (32 Billion) to the Gates foundation - headed by Bill and Melinda. Bill donated to GWB but has gone blue with his donations this year, while Melinda has stuck it out in the red camp this year donating to the RNC. Do your ***** homework.
    • DooM, on 03/04/2008, -1/+16Unles your "small" property can be measured in the millions of dollars the estate tax does not apply to you, buffoon. Rush and Hannity have pulled the wool over your dimwitted eyes.
      • nihilite, on 03/04/2008, -0/+6For a person dying during 2006, 2007, or 2008, the "applicable exclusion amount" is $2,000,000, so if the sum of the taxable estate plus the "adjusted taxable gifts" made during lifetime equals $2,000,000 or less, there is no federal estate tax to pay.

        That will go up to something like $3.5 million in 2009 or 2010. Even if all tax breaks expire, the lowest the exclusion would go is $1 million. that is not small. DooM has it right; the rich are using the ignorance of the working class to fight this tax.
    • The_Dude, on 03/04/2008, -5/+1I agree with jakeson2 in that Buffet is only coming out and saying this for some purpose of his own.
    • strafefire, on 03/04/2008, -0/+3There is NOTHING wrong with shorting any security!

      If the fundamentals of a security were STRONG, shorting would NOT be an issue.

      BUT, if they suck, like having outrageous debt, loss of sentiment and confidence, and continuously bad investment and MANAGEMENT choices, well...
    • Elranzer, on 03/04/2008, -0/+5jakeson2... Warren Buffet is also richer and smarter than you'll ever be, as well as infinitely more generous than you ever could be. I'd take whatever he has to say and listen, while you get dugg down into the stone age.
    • alpharaptor, on 03/04/2008, -0/+3you know guys are puppet with fox news' hand way up their asses, when they throw the term "liberal democrat" around willy-nilly
    • nirav72, on 03/05/2008, -0/+3@jakeson2 - a republican bitching about a capitalist. Now I've seen everything. Wow..you sure are a piece of work Jakeson2.
  • cageybee, on 03/04/2008, -5/+5they brought him in at 5am on monday morning after they heard bad news from asia. i wonder if they told him: "go say something to pump some confidence in investors"
    • nihilite, on 03/04/2008, -2/+4i notice that Buffett kept his yap shut about this until after he had stocked up big time on Kraft, J&J, and other recession staples. Everyone has to respect Buffett, but you have to wonder about this guy's intentions.
      • freexe, on 03/04/2008, -1/+5He's been saying the same thing for years, If you'd taken his advice you would buying cheap stock now as well.
    • 955701, on 03/04/2008, -0/+5I ask you, what good is it being the one of the three wealthiest men in the US of someone can wake you up at 5am?
  • elamr, on 03/04/2008, -5/+45well.. I didn't need Warren Buffett to know that.
    • jim3008, on 03/04/2008, -1/+2but i guess this is the exact reason why i respect Warren Buffett so much, he won't join the dirt-bag wall-st or Washington or big media people to con average folks,
      on today CNN headlines: "Housing: Best time to buy in four years",
      http://money.cnn.com/2008/03/04/real_estate/market ...
    • nirav72, on 03/05/2008, -0/+2He didn't make his billions without knowing a thing or two about how the economy works.
    • tonytovar, on 03/06/2008, -0/+0lol, what you said reminds me of what OBAMA said at the Texas Democratic Debate... "We dont need an economist to tell us we are in a [rough] economy!" lol Nice!

      --sucks though, im an economist! lol
  • jonnyeuchre, on 03/04/2008, -14/+4My Ass: Your farts stink.

    Obvious statements from people in the know...
  • e68895f, on 03/04/2008, -4/+5now lets see people attacking the word "essentially" and missing the entire bigger picture....
  • shuffle, on 03/04/2008, -15/+4I can has anything I want and not pay for it?
    • bjornski, on 03/04/2008, -0/+2Yes. It's called "earmarks", and "just stick it on the national debt".
  • OneLess, on 03/04/2008, -6/+26I know Reagan's recessions were all Carter's fault (*eye roll*) but there seems to be this odd correlation between Republican presidents and ***** economies.
    • LFAB, on 03/04/2008, -11/+9So Republicans caused the housing and credit market bubbles?
      Actually, the easy money terms that caused this crisis were put in play under Clinton's watch, FWIW.
      • nirav72, on 03/05/2008, -1/+1Not true - Actually the republicans (Bush) since 2000 have been pushing the feds to keep the interest rates low enough thereby making loans cheap enough. One of the principle issues Greenspan had with the current administration. It was further fueled by even lower interest deals with the 2000-2002 economic downturn. Thereby making loans easier to get, but driving the demand for homes through the roof and their prices.
        • LFAB, on 03/05/2008, -0/+1Holy crap, you're right. I was thinking Bush came up in 2002. I stand corrected. However, Greenspan kept the rates too low for too long. Can't blame that one on Bush.
          • nirav72, on 03/06/2008, -1/+2Ahh.no. Greenspan was asked to keep the rates low. Look it up if you don't believe me.
    • Barbarino, on 03/04/2008, -7/+6Well, if you want to break it down, Clinton's economic run begun under Bush Sr and it crashed when he was leaving office... But you'll never read that outside a text book. The problem with this story is that economics is not some instant measurement, it takes some times years to adjust GDP and get a clear picture of when a change has occurred. Again, you'll only read that in a text book.
      • ThndrShk2k, on 03/04/2008, -1/+2If you also want to break it down:
        Reagan did something about his economy
        Bush hasn't. He's done something about our freedoms. Who cares if there is a recession WHEN TERRORISTS ARE BREATHING DOWN OUR NECK! COMMIES BE DAMNED, TERRORISTS ARE BAD!

        You know, Reagan didn't have any kind of political war to wage like Bush does now.
        Oh, wait...
    • SheilaNoya, on 03/04/2008, -2/+11We're about to start facing regional bank failures again too - even Bernanke is warning us about that. That's something we haven't seen since Bush Sr. was in office and we had our last serious housing crisis. Maybe McCain can round up some of his Keating Five buddies to try and bail out the banks that give them huge political donations again.

      By the way - Where's Bush's brother, Neil Bush, these days? His involvement in the Silverado Bank failure cost the taxpayers over $4 billion.
    • Infidelcastr0, on 03/04/2008, -2/+3I think it's safe to say most economic problems are caused by mass stupidity... which is also the primary cause of republican administrations... thus the correlation.
  • jstohler, on 03/04/2008, -5/+21So why can't Bush bring himself to say it?
    • LFAB, on 03/04/2008, -2/+23Too many syllables.
      • nigh7dagger, on 03/04/2008, -0/+7It's the same amount of syllables as "nuke-you-ler"...
        • AnarkeIncarnate, on 03/04/2008, -0/+2Because he gets to "Recess... and then his mind gets all loopy and he runs outside to play dodgeball.
    • CrazedLeper, on 03/04/2008, -2/+16Because it's true.
    • Nation, on 03/04/2008, -0/+2because he does not want a recession
  • domokunt, on 03/04/2008, -6/+18Bush+Berbanke say we're not in a recession, Buffett says we are, who are you gonna believe?
    • LFAB, on 03/04/2008, -0/+12Bush + Bernanke CAN'T say we're in a recession or people panic. Buffett is a (more) objective source, IMO, but the most objective are leading economic indicators, which are suggesting that we are already in a recession. By the time we get our 2 quarters of GDP
      • LFAB, on 03/04/2008, -3/+1...GDP less than 0, the recession will probably be on the mend...
      • Nation, on 03/04/2008, -3/+1Buffett is not more objective ... he has a plan and a recession helps him achieve his goals.
      • WilliamDavis, on 03/04/2008, -2/+1Why would anyone ask a Buffet about recession? Those in the know would probably ask a Salad Bar.
    • CrazedLeper, on 03/04/2008, -2/+9I will take the word of a homeless, screaming lunatic who relieves himself in his clothes, over anything Bush says--without exception.
      • yodaj007, on 03/04/2008, -0/+1What happens when the homeless, screaming lunatic is Bush?
    • mythicflux, on 03/04/2008, -0/+1That depends... Who you gonna call?
  • suzywang3000, on 03/04/2008, -26/+3Buffett is wrong - the US is not in a recession and won't be this year. Commercial bank lending is holding up.
    • LFAB, on 03/04/2008, -1/+7Are you for real?
      • suzywang3000, on 03/04/2008, -12/+1realer than real deal Holyfield.
        • nihilite, on 03/04/2008, -0/+5is that why all the banks are starting massive layoffs?
          • suzywang3000, on 03/04/2008, -5/+1oh, I'm short all the commercial & investment banks except Goldman Sachs...
          • nihilite, on 03/04/2008, -0/+1@suzy: smart move - goldman was the only one smart enough to get behind shorting the subprime. Last year I was badly wanting to get into a short position on the subprime bond insurers as well, but had nocapital to throw at it. depending on when you locked in your positions you may be able to retire early.

            still - how can you say no recession? I mean, it takes years subsequent to declare a true Recession by the academics.... clearly we are no longer growing and things are contracting... time for consolidation.
          • suzywang3000, on 03/04/2008, -1/+0up 50% on Citi & Wachovia...less so on Bank of America... fluke really that I didn't short Goldman. Nothing analytical, I just went for Morgan S & JP Morgan instead.
      • adooga, on 03/04/2008, -0/+2No "she" isn't for real, "she" is a nasty little troll.
    • WayneCA, on 03/04/2008, -0/+7And consumer spending is WAY down.
  • digghandyman, on 03/04/2008, -3/+17He probably has a better sense of the economy than the President.
  • f821, on 03/04/2008, -6/+1Duh?
  • mal1964, on 03/04/2008, -2/+12"RECESSION HAPPENS"
    T SHIRTS 20.08
  • peagle, on 03/04/2008, -5/+12Darn, I was rather hoping for Jimmy Buffet's insight.
    • AnarkeIncarnate, on 03/04/2008, -0/+2"There's A recession somewhere?"
  • EnigmaOX, on 03/04/2008, -15/+5LOL , jews already started to invest in china
    • psykiv, on 03/04/2008, -3/+2Plenty of others interested.
      Oh yea, Like who?
      Well, Mort Goldman for one. He says it's a smart investment. But what does he know? He's only Jewish.
      All right, I'm in.
  • JHW539, on 03/04/2008, -3/+3Good. It's clear that a business shakeout needs to happen and I'd rather hear that we're already part of the way into it while I'm still sitting in a job than know that one is still looming. You have to be Bush caliber dumb to think you can have hundreds of thousands of prime trained work force being paid overtime to literally pound sand (or support the pounding) and not have a biatch of a bill (recession and a hell of an inflationary wallop from all that money minted for military folks who produce no economically valuable goods or services) come due eventually.
    • nihilite, on 03/04/2008, -0/+2inaccurate: they are helping steal oil, which is very lucrative (at least, the 35% of it we get in tax revenues from Chevron)
  • Mr.Gone, on 03/04/2008, -9/+3I misread it as Buffet, I'm hungry.
  • Bandito, on 03/04/2008, -11/+5Whew, I thought they were talking about Jimmy Buffett.
  • syxle, on 03/04/2008, -6/+14The Amero is on it's way.
    Don't worry little sheepies.
  • nathanbutnet, on 03/04/2008, -2/+8Just to agree with Buffet for a moment: I think anyone in business right now would tell you that the recession is here and now. It has been apparent now for months in businesses ranging from rental cars to retail to general services.
  • EnigmaOX, on 03/04/2008, -4/+13and the destruction in iraq worth atleast 2 trillions , who's gonna pay that?
    • eth3l, on 03/04/2008, -4/+1If only war was funded the way people buy cars. Its not. the cost may be int he trillions, but that does not mean the US government is going to pay trillions of dollrs.
      • FredFredrickson, on 03/04/2008, -0/+2No, it just means they owe it. That's worse.
      • nirav72, on 03/05/2008, -0/+2because the money just comes out of thin air right? Typical right wing attitude - spend now , worry about the ***** later. Or let others worry about it several years from now.
    • FredFredrickson, on 03/04/2008, -0/+10Future generations of Americans, unfortunately.
  • ColonelJessup, on 03/04/2008, -12/+8Here we go with the Digg.com economic/business/Wall Street/stock market super geniuses..........................................
    • eth3l, on 03/04/2008, -1/+6Its amazing, which such a wealth of information on macroeconimics, Digg should be used by the Federal Reserve to evaluate interest rate changes. I also heard the WSJ is secretly reviwing comments on Digg items like this, because, you know Digg comments are never biased.
  • ramong, on 03/04/2008, -8/+10Call it what you want, it`s all Bush`s fault
    • right75, on 03/04/2008, -2/+4Yes, we all know that one man controls the economy.

      Seriously, your notion is pretty lame.
    • eth3l, on 03/04/2008, -2/+2I dugg it for the sarcasm.
  • FamousAnus, on 03/04/2008, -5/+3Yeah, but what the hell does he know about it? Last I heard, he's still wasting away in Margaritaville.
  • eth3l, on 03/04/2008, -5/+7From The Economist:
    FOR a man who has placed “hope” at the centre of his campaign, Barack Obama can sound pretty darned depressing. As the battle for the Democratic nomination reaches a climax in Texas and Ohio, the front-runner's speeches have begun to paint a world in which laid-off parents compete with their children for minimum-wage jobs while corporate fat-cats mis-sell dodgy mortgages and ship jobs off to Mexico. The man who claims to be a “post-partisan” centrist seems to be channelling the spirit of William Jennings Bryan, the original American populist, who thunderously demanded to know “Upon which side shall the Democratic Party fight—upon the side of ‘the idle holders of idle capital’ or upon the side of ‘the struggling masses’?” There is no denying that for some middle-class Americans, the past few years have indeed been a struggle. What is missing from Mr Obama's speeches is any hint that this is not the whole story: that globalisation brings down prices and increases consumer choice; that unemployment is low by historical standards; that American companies are still the world's most dynamic and creative; and that Americans still, on the whole, live lives of astonishing affluence

    http://www.economist.com/opinion/displaystory.cfm? ...

    Buffets comments are from a biased liberal democrat.
    • FredFredrickson, on 03/04/2008, -0/+2eth3l, I'm surprised you have time to type up all these comments about how the recession isn't here yet... what with your head buried deep in the sand, your hands over your ears, and all the loud humming
    • joe8pack, on 04/29/2008, -0/+1sarcasm and irony are reallly wasted on the web in general and Digg in particular. The medium just doesn't play to it, its like trying to be satirical in Los Angeles - nearly impossible to do and not really worth the effort. But you could point to some Steven Colbert clips on youtube like:
      http://www.youtube.com/watch?v=yzeFNhcNqJA
  • ivandir, on 03/04/2008, -1/+14Best part of it:

    Buffett also said on CNBC:

    "On why the U.S. trade deficit is a long-term problem. "Over time, it's like eating an extra 100 calories at every meal. You don't sit down at the table and get up and everybody says 'My God, you're fat.' But if you keep doing it over time, pretty soon they'll say, 'My God, he's gotten fat.'"
    • eth3l, on 03/04/2008, -3/+1Really? amazing insight.
    • GeauxLSU, on 03/04/2008, -1/+2And Who signed NAFTA and normalized trade with China giving them the green light into the WTO? CLINTON Thanks Bubba for your help with the US trade deficit!
      • Railz, on 03/04/2008, -2/+1NAFTA is doing far more good then harm. Our largest trading partner is Canada, who is basically handing us oil.
      • nirav72, on 03/05/2008, -0/+1Actually a majority republican congress approved Nafta. Remember congress can always block a bill. I don't remember the republicans trying to block Nafta. Sorry man- but if you look at the past legislative trends, the republicans have been more pro-trade and less protectionist than the democrats.
  • feckineejit, on 03/04/2008, -4/+25You conservatives are hilarious - hard times are coming? for who? hard times are already here, we don't pay a living wage to our hospitality workers, and get upset when "the mexicans are stealing our jobs". You want Lower taxes on the super rich so the wealth will 'trickle down' - to who? ferrari? Chanel?

    You want to eliminate social welfare programs so that people will have to fend for themselves, did daddy pay for college? your first car? sounds like welfare to me!
    • eth3l, on 03/04/2008, -8/+2Good thing you don't generalise here.
    • eth3l, on 03/04/2008, -9/+3better daddy pay for it than the Federal government.
    • FredFredrickson, on 03/04/2008, -1/+6Well said feckineejit
  • pagalchu, on 03/04/2008, -2/+4Do we really need buffett to tell us this?
    • WayneCA, on 03/04/2008, -1/+4Didn't you hear? Bush and Bernanke say we're not in a recession. Somebody has to tell us the truth.
    • nirav72, on 03/05/2008, -0/+1I rather listen to a person who's made his money by understanding the economy versus someone who's still in denial or at least pretends its not a problem.
  • right75, on 03/04/2008, -4/+4Yaaaayyyy! We're in a recession! The mainstream media rejoices!! More bad news!
    • alex1015, on 03/04/2008, -1/+2It's not news, it's entertainment
    • FredFredrickson, on 03/04/2008, -0/+4If we are indeed in a recession, why is it a problem to acknowledge it? The more people know about it, and prepare for it, the better off we'll be to get through it. Even if we aren't in a recession (yet), I don't see any harm in warning people about it... instead of this head-in-the-sand, ignore-it-and-it-will-go-away *****.
      • RationalXubrnce, on 03/04/2008, -0/+2They want people to keep spending as if everythings fine. If everyone starts tightening up and playing smart it just ushers in the recession more promptly.
    • Railz, on 03/04/2008, -1/+1Funny, states like NY and CA are experiencing a growth in GDP. Stop dragging us down.
      • bjornski, on 03/04/2008, -0/+1Too bad it's not because a majority of the people are making more, and it's because of the high-end CEO's making huge windfalls. That throws the numbers off quite a bit. "We're doing great! Look how much money the top 10% of wage-earners are making!"
  • InorganicMatter, on 03/04/2008, -8/+2Of course we are. The thing about a recession is, you don't know you are in one until the numbers come in, and by the time numbers do come in, the problem has already corrected itself.

    We are fine. Stop believing the sensationalist media and the proxy smear-campaign against the Republicans for causing this.
    • FredFredrickson, on 03/04/2008, -0/+4SO even if it is happening, and is correcting itself, we shouldn't place the blame on the people who broke the economy? Der... okay. Ignore MSM and follow the Republicans like sheep to "economic prosperity." Nice work.
    • israelanderson, on 03/04/2008, -0/+3Ah, sorry, but that's total BS.
    • nirav72, on 03/05/2008, -0/+1Tell that to the people who will loose their jobs and will have to worry about feeding their families. Their jobs won't be coming back by the time a correction occurs.
  • eth3l, on 03/04/2008, -4/+2With the surge basically keeping Iraq in check - the economy is the main issue in the election right now. if the economy is good the incumbant party typically keeps the Presidency. If the economy is bad, the challenging party is generally given a shot at it. See 1980, 1996. In both 2000 and 2004 themedia was frantic with news of a souring economy (http://news.google.com/archivesearch?hl=en&q=2000+ ... when in reality our economy was sound.

    Since the Clinton years our economy has been shifting more towards globalisation - a concept most Americans do not agree with. With such a shift comes changes to the economy those same Americans are uncomfortable with.

    Fact is America is in an age of prosperity the world has not seen since the Romans. its the problem with America too.
    • FredFredrickson, on 03/04/2008, -1/+5Layoffs, spiraling stock market, falling price of the dollar. Sure, we still beat out the Romans, but the country is in a decline you imbecile.
  • GeauxLSU, on 03/04/2008, -1/+8Bush's fault....try these people:
    Americans are 'financially illiterate' and caught up in a web of debt. Poor savings don't help, according to two new studies.

    http://money.cnn.com/2008/02/26/pf/financial_illit ...
    Thanks idiots for messing with not only the US economy, but also the worlds!
  • FredFredrickson, on 03/04/2008, -1/+2Anti-recession defense force strike now!
  • jonvictorino, on 03/04/2008, -1/+4Anyone have any spare change?
  • dracostimpy, on 03/04/2008, -1/+5This restaurant researcher named, ahem, Ron Paul, agrees:

    http://digg.com/business_finance/Some_OTHER_Guy_Na ...
  • hasslinthehoff, on 03/04/2008, -1/+1No *****, Sherlock...
  • nova9, on 03/04/2008, -6/+2Hussein Osama' 08
  • RabidAngel, on 03/04/2008, -1/+3All I know is that my stock portfolio is being hammered into oblivion today.
    • RationalXubrnce, on 03/04/2008, -0/+2 You should consider precious metals and oil. Gold and silver are not near their peak yet in my estimation and besides your stocks are valued in ever declining dollars anyhow.
  • Treoinmypocket, on 03/04/2008, -3/+3***** Warren Buffet.

    I'm making money hand over fist.
    • bjornski, on 03/04/2008, -0/+2There's always a demand for crack.
      • Treoinmypocket, on 03/05/2008, -0/+2LOL - although not a drug dealer...that did make me laugh. DUGG
  • ...---..., on 03/04/2008, -2/+5B-b-b-but... the president says there is no recession...
    • israelanderson, on 03/04/2008, -0/+2He also said there WERE WMDs in Iraq!
      • nirav72, on 03/05/2008, -0/+1you forgot uranium in the form of yellow cake in africa or Saddam's direct ties to the 9/11 hijackers.
  • jax1492, on 03/04/2008, -4/+1anyone else think it was Jimmy Buffet when they read the title?
  • adooga, on 03/04/2008, -2/+2Worth a read beyond the headline, he talks good sense.
  • sgiffy, on 03/04/2008, -1/+1eh, recessions happen and can be good for the economy. They increase efficiency and remove dead weight. In this case poor lending practices and a bit too much reliance on debt. We have seen worse, much worse.
    • extreme01, on 03/05/2008, -1/+1when??
      • bc289, on 03/05/2008, -0/+1how about the Great Depression? Or the early 1980 recessions? Or the 1973 oil crisis? Although we don't know how bad this recession will be, at this point, it's true that we have seen much worse. Many economists also would say that this recession will not last long, according to the latest economist surveys by WSJ.
    • nirav72, on 03/05/2008, -0/+1So the countless people that will loose their jobs and will have families to feed are dead weight? Why don't we just send them off to concentration camps. /sarcasm.
  • RationalXubrnce, on 03/04/2008, -1/+1Buffet should know all about US economic problems. Hig good friend Jacob Rothschild had a nice hand in helping create them.
  • RealHyperX, on 03/04/2008, -3/+2Buffet is another idiot liberal - not the usual sort - he is a rich idiot liberal.
    • prophet5, on 03/05/2008, -0/+1Oh, you mean like John Kerry and Ted Kennedy?
  • altidude, on 03/04/2008, -1/+2Warren Buffett may not agree with the formal definition of an economic recession, but there is a definition. It's not a "common sense" definition. The US may very well be, and probably is, headed for a classic recession. It won't be the first, it won't be the last. I have news for Mr. Buffett; the economy is cyclical. He should know this above all others, financial genius that he is. His comments are about the election, not about the economy.
    • extreme01, on 03/05/2008, -0/+1Time to open your eyes ...50 something. America is broke and no war will restart the economy.
  • DaviDaviDaviD, on 03/04/2008, -1/+2This sort of contradicts what I saw on Bloomberg yesterday when he said that a recession was unlikely.
  • Look4Truth, on 03/04/2008, -2/+1http://www.stevequayle.com/News.alert/08_Photo_of_ ...
  • MrTea, on 03/04/2008, -1/+3No kidding. The price of a dozen eggs is like $10. I thought I was going to have a heart attack.
  • robbob, on 03/04/2008, -1/+3If you live in Michigan, its been a recession for years
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