User 190263

Warren Buffett on the Dollar, the Recession, Subprime and Bear Stearns

The definition of recession is very precise, it is X number of months of "shrinking" economy...it is not what Mr. Buffett "thinks" it is or how people "feel" about their financial sitution. It is totally irresponsible for someone like Mr. Buffett, who I have a lot of respect for except on this, to declare a recession based on a definition of his own choosing! We already have enogh clowns in the media that have been beating the drums about recession for months without any evidence of an actual "shrinking" economy even for one quarter. Mr. Buffett should have more respect for us than that. The economy is not growing as it was, it is much worse than it was, some people are affected (not most like media would have you believe), BUT WE ARE NOT IN A RECESSION AS PER WHAT THE DEFINITION OF RECESSION IS! Please stop creating new definitions for recession. We "could" go into a recession in the future but we ARE not there now.