Tags: jacob | wolinsky | warren | buffett

One Great Mind Who Is Still Bullish About the US

By    |   Thursday, 23 Sep 2010 10:35 AM

At least there is one great investor who is still bullish on the economy.

Warren Buffett, the CEO of Berkshire-Hathaway and one of the best investors ever, is always sought after for comment in times of economic crisis.

Buffet is bullish on the future of the U.S. economy stating that 'the best is yet to come for the economy' and that there won’t be a double-dip recession.

While he did say that the United States is still stuck in a recession even though the National Bureau of Economic Research has officially declared it over, Buffett told CNBC that the nation will eventually emerge from the economic contraction.

“We're still in a recession. And we're not gonna be out of it for awhile, but we will get out of it,” he told CNBC.

Buffet also was recently at the Montana Economic Development Summit and it was there that he said he is “a huge bull on this country. We are not going to have a double-dip recession at all. There will be an economic rebound across the board.”

Buffett said that while the country has had a dismal view of the economy, “the best is yet to come.”

While the gross domestic product in the United States did grow nearly 2 percent in the second quarter of the year, there is still a national average of 10 percent unemployment across the country. President Barack Obama is prepared to sign a small-business bill which he claims (always take such claims with a grain of salt) will create more than 500,000 new jobs.

Buffett is still being his optimistic self, the same stance that he has taken ever since the economic downswing began back in 2007.

Treasury Secretary Timothy Geithner this week said that the economic crisis won’t get any better until people are able to get back to work and have the ability to extend economic growth and opportunities. Many experts don’t believe the job market will get better for years, and therefore the economy will slump.

However, Buffett thinks that the dark days are over and we are in the midst of recovery.

To paraphrase Buffett, It is as big of a difference between night and day as the economy is today compared to how it was a year or two ago.

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At least there is one great investor who is still bullish on the economy. Warren Buffett, the CEO of Berkshire-Hathaway and one of the best investors ever, is always sought after for comment in times of economic crisis. Buffet is bullish on the future of the U.S. economy...
jacob,wolinsky,warren,buffett
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2010-35-23
Thursday, 23 Sep 2010 10:35 AM
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