09/24/2010 // US // TiffNews10 // News Desk
New York – Wealthy investor Warren Buffett recently expressed his views on the U.S. economy, stating that the U.S. was not yet out of a recession. As reported by Reuters, Buffett proposed that contrary to an assessment stating the recession ended over a year ago, the country is still in a downturn that may take some time to get out of.
Buffett is quoted by Reuters as stating to CNBC television, “We’re still in a recession… We’re not gonna be out of it for a while, but we will get out.”
As noted in the report, the National Bureau of Economic Research stated that June 2009 had marked the ending of an 18-month recession, however economic activity had not necessarily resumed as normal. Buffett reportedly stated his definition of recession varied from that of the NBER.
The latest in U.S. News
Photo Credit: Wikipedia User Mark Hirschey