We're Still In a Recession - Buffett
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Warren Buffett, chief executive officer of Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B) said in an interview on Thursday with CNBC that "we are still in a recession," cautioning people against blaming the government.
"The government did the right thing in getting the economy going again," Buffett said. "We will come back regardless of how people feel about Washington. But it's not helpful to have people as unhappy as they are about what's going on in Washington."
Buffett added that he evaluates how the recession is going differently than the U.S. government.
"I think we are in a recession until real per-capita GDP gets back up to where it was before," Buffett said. "If the average American is below where it was before in terms of real income, we're still in a recession and we’re not gonna be out of it for awhile, but we will get out of it."
Buffett added that Berkshire's businesses are coming back but are moving slowly, and in terms of hiring he said that the around 70 businesses that his company owns are bringing in few people.
Watch the interview here:
"The government did the right thing in getting the economy going again," Buffett said. "We will come back regardless of how people feel about Washington. But it's not helpful to have people as unhappy as they are about what's going on in Washington."
Buffett added that he evaluates how the recession is going differently than the U.S. government.
"I think we are in a recession until real per-capita GDP gets back up to where it was before," Buffett said. "If the average American is below where it was before in terms of real income, we're still in a recession and we’re not gonna be out of it for awhile, but we will get out of it."
Buffett added that Berkshire's businesses are coming back but are moving slowly, and in terms of hiring he said that the around 70 businesses that his company owns are bringing in few people.
Watch the interview here:
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