http://www.coastalonedayfunding.net
When Warren Buffett speaks, everyone listens. And so it was no surprise today that the financial markets continued to take it on the chin when the Oracle of Omaha confirmed in an interview with CNBC what we've all been thinking: the economy has "fallen off a cliff," he said. "Not only has the economy slowed down a lot, but people have really changed their habits like I haven't seen."
He expects the unemployment rate, which now stands just over 8%, to go higher. And with all the money flowing out of government right now, Buffett expects significant inflation in the future, perhaps worse than in the 1970s. And for those who are upset about those who acted responsibly having to now bailout those who didn't, the sage investor says get over it because it is going to happen. "The people that behaved well are no doubt going to find themselves taking care of the people who didn't behave well," he said.
Buffett likened the current crisis to an economic war, and 'What is required is a commander in chief that's looked at like a commander in chief in a time of war," he noted. And it will take a lot of money: "We're in a big war, and we're going to use money to fight it," he said.
So here's a question ... this economy isn't going to turn around anytime soon, that's for sure. What are you doing differently to adjust?
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2012 ActiveRain Corp. All Rights Reserved