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Strategies & Market Trends : Coming Financial Collapse Moderated -- Ignore unavailable to you. Want to Upgrade?

To: Box-By-The-Riviera™ who wrote (567)	8/24/2001 10:34:03 PM
From: EL KABONG!!!	Read Replies (2) \| Respond to of 974

quote.bloomberg.com Warren Buffett Sees 8-Year Economic Slump, Business Week Says By William Selway New York, Aug. 23 (Bloomberg) -- Billionaire investor Warren Buffett thinks the U.S. economy will remain in a slump for eight years, Business Week reported, citing unidentified people who have met with Buffett. The chairman and chief executive of Berkshire Hathaway Inc. thinks the U.S. economy will remain in a standstill because of a ``hangover effect'' related to the swift pace of growth in the late 1990s, the magazine reported. Spokespeople for Buffett declined to comment on his forecast, the magazine said. The U.S. economy grew in the second quarter at the slowest rate in eight years as business investment slumped. The Federal Reserve Tuesday lowered the benchmark U.S. interest rate a quarter of a percentage point, its seventh cut this year, and analysts expect lower borrowing costs to bolster spending later this year. KJC