| Author | Message | ||
     Ashton Side Hero Username: Ashton Post Number: 6905 Registered: 05-2008 Posted From: 66.90.104.94 Rating: N/A |
http://www.huffingtonpost.com/2010/09/23/warren-buffett-were -still_n_736148.html "..Earlier this week, the National Bureau of Economic Research, the independent body that tracks downturns in the U.S., recently announced that the recession ended in June 2009. But in an interview with CNBC's Becky Quick, Buffett disputed that notion: BECKY: The NBER said this week that the-- recession officially ended back in June of last year. BUFFETT: Well, they define it differently. (Laughs.) But I-- I mean, I-- I define it-- I think we're in a recession until real per capita GDP gets back to where it was-- before. That is not the way the National Bureau of Economic Research measures it. But I will tell you that to any-- on any common sense definition, the average American is below where he was before, or his family, in terms of real income, GDP. We're still in a recession. And-- and we're not gonna be out of it for awhile, but we will get out of it..." |
