Earlier this week the National Bureau of Economics Research said the 18-month recession ended in June 2009.
Mr. Buffett today said he defines a recession differently, he said it ends when real per capita gross domestic product returns to its pre-downturn level.
In an interview with CNBC he had several great quotes in addition to “were still in a recession,” Including; “We’ve used up a lot of bullets,” & “And we talk about stimulus. But the truth is, we’re running a federal deficit that’s 9 percent of GDP. That is simulative as all get out.”
With so many fat necked actors singing in unison, it is truly refreshing to hear an experienced voice of reality speak the truth. While it’s true we are fairing better then the squandered years of 2008 and 2009, this doesn’t mean were out of the woods yet either. I sincerely tip my hat to you Mr. Buffett.
Lets stop looking up to see where we are.. Instead let’s keep our heads down and our noses to the grind stone; at least until the stench of crushed dreams and hungry tears thin a bit.