Warren Buffet: We are in a long and deep recession the likes we have not seen

and now, 2 minutes Buffet:

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Too bad Buffett won't point fingers at his buddies on the street and at the Fed.

Yeah, the economies gonna crap out, but we just can't figure why this happened...

Heads should be rolling down the steps of the Fed.
 
Quote from blackchip:

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Yeah, the economies gonna crap out, but we just can't figure why this happened...
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Same as when GreenScam calls a press conference to announce, "It wasn't MY fault!"
 
Buffet has the rarest of all commodities: common sense.

The unstoppable and mythical American Consumer is mortally wounded, and the savers in Asia are not going to pitch in and buy all the useless shit (e.g. George Foreman Grills, Showtime Rotisseries, meds for restless legs syndrome, and garden weasels) needed to make up for the slack.
 
I sure am glad that all these Gurus and Wall Street Wizards are telling me we are in a recession, because I would not know otherwise.

I tried to go out and eat this past weekend and everywhere I went there was a 1-2 hour wait. I can't wait til every body else gets the news so I won't have to wait at restaurants. The Mall Parking lot was also jammed, Don't these idiots know there is a recession.

I have not seen one news report about the long lines at the food pantry and the unemployment gone rampant. I think All U.S. companies should be forced to lay-off at least 25% of their workforce so we can have a respectable recession. Right now it seems like people just don't want to join in.
 
For a guy who owns billions in assets to come out and say this.....just shows how things are getting.

Recessions take years guys. They're not hangovers, you don't just sleep it off. And the way the fed has gotten, it's going to be worse than it would have ever been.

But if i'm wrong, i've got still got exposure just in case the fed's wheels do grab.
 
Quote from agmccall:

I sure am glad that all these Gurus and Wall Street Wizards are telling me we are in a recession, because I would not know otherwise.

I tried to go out and eat this past weekend and everywhere I went there was a 1-2 hour wait. I can't wait til every body else gets the news so I won't have to wait at restaurants. The Mall Parking lot was also jammed, Don't these idiots know there is a recession.

I have not seen one news report about the long lines at the food pantry and the unemployment gone rampant. I think All U.S. companies should be forced to lay-off at least 25% of their workforce so we can have a respectable recession. Right now it seems like people just don't want to join in.
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Take away their credit cards and see how long the wait is.

The American Consumer eats, pays for gas, and even their candy bars with credit cards.

And it's not out of convenience for most. Necessity.

As for the unemployment rate, I'm sure you put a lot of stock in official fed figures.

Oh, make sure to send Buffet a letter highlighting your anecdotal experiencing as proof of how wrong he is.
 
Quote from ByLoSellHi:

Take away their credit cards and see how long the wait is.

The American Consumer eats, pays for gas, and even their candy bars with credit cards.

And it's not out of convenience for most. Necessity.
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I agree. But honesty is hard fought. Look at the subprime collapse haha. Damn thing was months in and everyone thought it was just the beginning.
 
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