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Buffett Sees No Double-Dip Recession in U.S.

by Danny King Sep 13th 2010 3:26PM
Updated Sep 13th 2010 3:37PM
Warren BuffettBerkshire Hathaway (BRK.A) CEO Warren Buffett said a second, near-term recession in the U.S. is unlikely and said his companies have boosted hiring over the past couple of months, Bloomberg News reported.

Buffett said the U.S. economy "will not have a double-dip recession at all," the wire service reported, citing Buffett's remarks during a keynote speech at the Montana Economic Development Summit earlier Monday.

The billionaire investor, whose company is Wells Fargo & Co.'s (WFC) largest shareholder, cited U.S. banks' growing willingness to lend to small businesses as illustrative of an economy on the mend, Bloomberg reported. Buffett called the lending situation "night and day from a year, year and a half ago," according to Bloomberg.

The Berkshire chief was listed this year by Forbes as the world's third-wealthiest person, whose $47 billion net worth trails only that of Carlos Slim Helu and Bill Gates.

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23 Comments

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JLH

Until we return to tarrifs; taxing the wealthy for the gains they get from the labor of the poor, and act on what's best for our nation, we will continue the loss of the greatest generation that wanted what was best for our generation. as it is, a corporation is as a human voter in every sense of government. We called this communism when I went to school in the 70's. Now, if it wasn't for communist loans, we'd be a third world government that we practically are now.

September 15 2010 at 7:06 PM Report abuse rate up rate down Reply
littlebig1ct

Recessions hurt the construction industry the most, and much of them are psychological. It's like if someone says the water in the pool is freezing, fewer people are going to jump in whether it's true or not. The construction industry always looks forward to springtime, when people walk outside and look at their houses and see what repairs or modifications and remodelling they might want to do. Or even the considerations of building. It seems that just when it looked like the recession might be about over, and we in the construction business might be able to get back to work. The GOP propagandists say " No ! It's not over yet. . . This is a double dip recession " I say GOP propagandists because they seem to want to blame this recession on the Democrats until Obamas term is over, when actually it was Bush who announced we were in deep recession. Come on people, give us a break and let us pay our bills, rents and mortgages, and put some food back onto our tables, and get health insurance again. You people are killing us. Say "the water is warm".

September 14 2010 at 10:08 AM Report abuse rate up rate down Reply
mikecarlsen

The recession just passed started not when freddie mac etc went down but a middle class lending place called Magnus . Immediately between 20 and 40 thousand jobs in the finance sector went and the rest is history,. Now Castro (this is not an attack on Castro) is sacking 500,000-- a feature of the new right(but is here) which brought America to its knees -- and changed behaviours whether you believe in Keynes or Nash. Simply Americas middle class or the potential to make it in future generations is collapsing -- As the man at Nokia told the little township peoples in mid USA who manufactured the Nokia --when theyt had a meeting and confronted them-- His answer was " look you will be able to buy your Nokia much cheaper now because (in effect you are not making it and it now costs less) but your life will be better because you will own more because it will be cheaper. So Mr Buffet will make money from that -- at least Bill Gates has an apartmrnt in Shanghai or nearby

September 14 2010 at 8:59 AM Report abuse rate up rate down Reply
ingfp

criokie, I to remember Buffett supporting Obama. It does create doubt and speculation concerning a true free market agenda. When you have such a controlling interest in the political and financial world, one has to question it's purpose. As we have seen already, tons of failure in private sector, 100's of bank failures etc.... They just keep doing what they have been doing and expect us to believe it will CHANGE. I hope we get CHANGE in NOVEMBER!

September 14 2010 at 7:03 AM Report abuse +1 rate up rate down Reply
crlokie

As I remember Buffet promised us a rose garden if we voted for Obama. Now he wants us to vote for the Democrats in the midterm elections. He makes his money by buying companies and then bleading them to death. Does anyone know how much Wells Fargo got in the bank bailouts. Wasn't he an economic advisor to the Obama campaign?

September 14 2010 at 5:25 AM Report abuse +2 rate up rate down Reply
writeyourself

Think Global(WE) the Whole Earth. The WEsolution to the recession is to have a WEsession of positve WEsources Global WEcreated by having the WEpublic of Earth work harmoniously to heal the climate, end war and stimulate business so that religion no longer is an economic issue to gain and maintain material goods but is a positive way to reach the ascended heights of masters. If you believe ascension is possible and want more details on the process, please e-mail writetheyer@aol.com

September 14 2010 at 3:48 AM Report abuse -1 rate up rate down Reply
1 reply to writeyourself's comment
ingfp

Where are the Klingons?

September 14 2010 at 7:04 AM Report abuse rate up rate down Reply
cybrwalker

Buffy Boy will never see double dips...can't when your butt is dollar-padded

September 13 2010 at 11:11 PM Report abuse +1 rate up rate down Reply
Dennis

what? Warren Buffet didn't even see a single dip recession! Should we really be listening to a thing says.

September 13 2010 at 9:15 PM Report abuse rate up rate down Reply
kathysmith2k7

Umm South Florida has a 20 percent jobless rate!! Do not believe anything these fools say!

September 13 2010 at 8:50 PM Report abuse rate up rate down Reply
2 replies to kathysmith2k7's comment
johnskii

Can anybody see what is happening? The Democrat and Republicans are coming together to save their Incumbent *BUTTS* before the November election. Did anybody notice how somewhat cooperative everybody is getting and making the U.S.A. seem the economy is full of sunshine, blue skies and flowers?!!! Please vote in the Incumbents out in November 2010 and sent a message to the government from the people whom are their bosses.....

September 13 2010 at 9:03 PM Report abuse +1 rate up rate down Reply
jancf

It will take years for unemployment to improve to pre-recession levels. It's one of the last things to improve in a recession, and this was a God-awful one.

September 13 2010 at 9:54 PM Report abuse rate up rate down Reply
johnskii

Sorry Warren your absolutely incorrect becuase we have not got out of the first one! Consequently we are still in DEEP WATER!!!!! HELLO!!!HELLO!!!HELLO!!! Earth to Warren......

September 13 2010 at 8:34 PM Report abuse rate up rate down Reply