Warren Buffett: Don’t expect miracles from Obama

By Edward Harrison On Jan 25, 2009

You may have already seen the Warren Buffett interview on Dateline from last Sunday. In it, he gives a sober analysis of what to expect from the new Obama Administration in terms of economic policy. The long and short of it is that we shouldn’t expect a miracle turnaround. The recession will be deep and protracted regardless of how well Barack Obama’s team deals with economic issues. Their policy response will make the difference between a long and protracted recession and a downward spiral to depression.

Below is the video of Buffett. The transcript is linked as a source.

Source
Warren Buffett: Barack Obama Will Help the Economy, But Don’t Expect Short-Term Miracles – CNBC

Edward Harrison 7783 posts 575 comments

Edward Harrison is a senior Editor at Bloomberg. He is also the founder of Credit Writedowns newsletter, a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

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1 Comment

objective says 15 years ago

Warren Buffet has summarized it all! Americans stop hating on Obama, and join him in the fight to bring America back from limping to walking tall! Most of you expect miracles, and when you dont see it fast enough you label him as failure, that is not fair to him, or to your country to put him down for everything he tries to do, particularly when he is trying to do it for ALL AMERICANS! Ask yourselves are the majority of Americans RICH! No!…who do you think make the rich become richer…ITS THE POOR PEOPLE WHO SUPPORT THE RICH MANS BUSINESS, AND THE RICH MAN TURNS ON THE POOR, BY LABELLING OBAMA A SOCIALIST!! SHAME ON ALL THOSE who cannot see the true picture. Obama is being picked on like a vulture picking on a cauctus, never have I seen any other President ridiculed in this manner. HE IS A HUMAN BEING, PERIOD!

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