Wednesday, June 24, 2009

US Economy In Shambles-- No Signs of Recovery

The US economy is in shambles and there is no sign of a recovery according to billionaire investor Warren Buffett.

CNBC reported:
In a live interview on CNBC today, Warren Buffett said there has been little progress over the past few months in the "economic war" being fought by the country. "We haven't got the economy moving yet," he told Becky Quick.

While the economy is a "shambles" and likely to stay that way for some time, he remains optimistic there will eventually be a recovery over a period of years.

Buffett repeated his criticism of "cap and trade" as a method to control pollution, saying it would be a huge, regressive tax.

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