April 28, 2008When the Oracle of Omaha speaks...The top of this story from Reuters doesn't do much to instill confidence, does it? NEW YORK - Warren Buffett, the world's richest person, said on Monday the U.S. economy is in a recession that will be more severe than most people expect. Buffett made his comments on CNBC television after his Berkshire Hathaway Inc. agreed to invest $6.5 billion in the takeover of chewing gum maker Wm. Wrigley Jr. Co. by Mars Inc. in a $23 billion transaction. "This is not a field of specialty for me, but my general feeling is that the recession will be longer and deeper than most people think," Buffett said. "This will not be short and shallow." |
About this blog
As the U.S. economy struggles to find its footing -- and experts debate daily whether or not we are in a recession, heading toward a recession or neither -- business editor Chris Winston writes this blog to provide local, state and national information to help you make heads or tails of the headlines. .....Advertisement.....
|
...Advertisement...
...Advertisement...
