Warren Buffet on our recession

I have been talking recession for 6 or 8 months.

The sinking economy has been drifting lower, and now is beginning fall like a rock. The cost of everything is going up. Inflation has not really been   named as a problem due to the government taking food and fuel increases out of the equation, but those increased costs are soon going to factor into the statistics.

As I have said many times, we are in for a heavy dose of Stagflation.(Increasing price’s , negative economic growth.)

Now Mr Buffet has acknowledged that we are in the beginning of what will be a long and painful recession.

I’m honored that Mr Buffett’s views coincide with my own. He is much better qualified to make these predictions, and my only regret is that I’m afraid we are both right. 

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