This just in, more Grand Poobah speak>
•Buffett Says U.S. Economy Has "Hit a Plateau at Bottom," Won't Dip Again! (Wow, I feel better already)
Warren Buffett, the billionaire investor who last year called the financial crisis an “economic Pearl Harbor,” said the U.S. economy has “hit a plateau at bottom.”
“We have not bounced but we’ve quit going down,” Buffett, the 79-year-old chief executive officer of Berkshire Hathaway Inc., said today in an interview on CNBC.
Signs the worst recession since the 1930s is over have accumulated in the past two months, with U.S. manufacturing expanding for the first time in 19 months in August and home- sales rising. The Bloomberg Professional Global Confidence Index exceeded 50 in September for a second month, meaning optimists outnumbered pessimists. Federal Reserve Chairman Ben S. Bernanke said yesterday “the recession is very likely over.”
“We’re through the worst of it in residential real estate in all probability,” Buffett said today, adding that he doesn’t expect a “double-dip” recession.
The number of contracts to buy previously owned homes rose more than forecast in July and increased for a record sixth consecutive month, while mortgage buyer Freddie Mac said the average price rose 1.7 percent in the second quarter.
The remarks from Buffett and Bernanke helped push stock and commodities prices higher, with futures on the Standard & Poor’s 500 Index up 0.6 percent. Lead rose for a third day and copper prices advanced.
Stocks climbed yesterday as Buffett, known as the “Oracle of Omaha,” told a conference in California that his company was buying equities because “I am getting a lot for my money.”
(where are the jobs Warren?)
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If he is so F-ing smart, where was he when gems such as
OSK could be bought for a fiver?
Message 25186164
Absolute bs. |
