CARLHAYDEN
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« on: June 24, 2009, 11:56:12 AM » |
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Warren Buffett to CNBC: U.S. Economy In "Shambles" .. No Signs of Recovery Yet
Published: Wednesday, 24 Jun 2009 | 11:52 AM ET
In a live interview on CNBC, Warren Buffett says 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."
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 says the nation should concentrate on creating jobs.
Buffett also revealed that he had a cataract operation on his left eye about a month ago. He joked that he thought it might help him see "green shoots" for the economy, but so far he hasn't seen any hopeful signs.
Taking a firm position in an ongoing debate in the financial markets, Buffett says he's not concerned at all about deflation, but does think inflation will be a problem in coming 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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