Many pundits have been screaming about a coming collapse with some of them going so far as inviting people to exit the system by growing your own food and stacking up on supplies in a strong hold far from the city. While I believe all of this material makes great Hollywood fiction stories, yesterday was an opportunity for all of the doomers to repeat their dire warnings following dismal employment numbers in the US.
However, Buffet captured the day yesterday with the following statement on Bloomberg TV when he was asked if he expects a second recession:
“I would bet very heavily against that, how fast the recovery will come, I don’t know. I see nothing that indicates any kind of a double dip.”
While he didn’t deny the recovery has been slow he did emphasize that there’s growth around the world and that it will show up in the US once the construction sector starts to heal.
Billionaire Buffet is wagering on continued economic expansion with no double dip in sight. I as well add my voice to yours Warren, we cannot afford not to grow. It will take time, it will be slow but in the end the economy will grow.
Am I too optimistic? Maybe, but at least I am not alone….
Housing Prices: No Rebound in Sight
Where the jobs are: Energy savers
Service Industries in U.S. Expand at Slower Pace
How America Ceded Capitalism’s Bastion to Germany
Fed’s Massive Stimulus Had Little Impact: Greenspan
Weekly blog roundup:
Nature Versus Nurture (Invest it Wisely)
Portfolio Addition: Power Financial Corp. (PWF) (The Passive Income Earner)
Why You Should Stay Away From Airline Stocks (Buy Like Buffet)
High Yield Dividend Portfolio Example Giving 8% Dividend Payout! (Dividend Guy Blog)
Dividend Income Update (101 centavos)
Step 7: Finish Big (Dividend Monk)
My simple stock selection rules of thumb (My Own Advisor)
Will the U.S. Default? (DIY Investor)
Have a Great Weekend!