The National Bureau of Economic Research may declare the Great Recession is over, but Warren Buffett seems to disagree. According to him, the recession is not over until per-capita GDP recovers to the pre-recession highs, and we are not over with recession for a while.
Buffett thinks credit is readily available for businesses as banks have over one trillion dollars deposited with the Fed and earning 0 to a quarter of one percent.
Berkshire’s vast operating business empire gives Buffett visibility on where the economy stands in different sectors. For his company, Railway is doing well but Carpet business is lagging. His operating units are hiring but at a high pace.
Watch the CNBC interview during which he gave his assessment:
Buffett thinks credit is readily available for businesses as banks have over one trillion dollars deposited with the Fed and earning 0 to a quarter of one percent.
Berkshire’s vast operating business empire gives Buffett visibility on where the economy stands in different sectors. For his company, Railway is doing well but Carpet business is lagging. His operating units are hiring but at a high pace.
Watch the CNBC interview during which he gave his assessment:
