Warren Buffett: Don’t expect miracles from Obama
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.