I think I'm in the wrong field....

[flutterbee]

These people make big bucks just to say what the rest of us already know. It makes ya think that we are in the wrong field.

http://www.msnbc.msn.com/id/24353109/

Warren Buffett, the world's richest person, said on Monday the U.S. economy is in a recession that will be more severe than most people expect.

...

"This is not a field of specialty for me, but my general feeling is that the recession will be longer and deeper than most people think," Buffett said. "This will not be short and shallow.

"I think consumers are feeling gas and food prices," he added, "and not feeling they've got a lot of money for other things."

I need to figure out how to make tons of money by stating the obvious.

 

[tiredmommy]

Ya know, when Warren Buffet speaks people ought to listen! He's influential in many areas and has a better feel for the pulse of the economy than the GAO. I've been predicting a third quarter slide which will push our economy to the brink. We carry too much debt, individually and as a nation, to continue on this way. Unfortunately, there's going to be a lot of suffering, I think.

 

[flutterbee]

That's kind of my point, TM. Those of us down here in the trenches already know this stuff because we're already feeling it/living it. There have been threads/discussions on this topic on this very board about how this issue is impacting us personally and what kind of changes we're making. But, what do we know.

However, the richest man in the world, who is not going to be effected - at least not like us...I don't see him pinching pennies in the grocery store - and makes statements such as, 'I think' and, 'but who knows' is worthy of print.

It just makes me roll my eyes.

 

[Hound dog]

I'd like a job like that myself. lol

I mean, c'mon....I noticed this stuff months and months ago.

by the way, went grocery shopping the other day and nearly keeled over. OMG the prices soared up overnight!!

 

[trinityroyal]

Funny thing is...Warren Buffet DOES pinch pennies.
He drives a used Buick, doesn't jet-set around, lives in a relatively modest home, etc.

I do agree with you though, Heather.
Why is it that, regular folks have been saying this for months (years?), and all of a sudden it's news because Warren Buffet says so too.

Warren Buffet also has to be careful about making definitive statements about any market trend. People buy and sell fortunes based on just about any idle thought he expresses in public. I heard that a misinterpretation of something Warren Buffet said last year caused a major market correction. People lost a lot of money. So...I'm not surprised by the weasel words from Mr. B.

 

[flutterbee]

You're right, Trinity. Regular folk have seen this coming for quite some time.

2 years ago, I was worried. Now, it's downright scary.

One - whether an individual or a government - cannot live outside of their means forever. Eventually, the fallout will occur. And that's where we're at. It seems like common sense to me. I'm not sure why it was so hard for those in Washington to figure it out.

I have nothing against Warren Buffet and I know he's a very influential person. It's just surprising to me that anyone could think this is new information. It's like our media and our government think we're a bunch of brainless sheep and the news needs to be dumbed down. I don't know. I guess I find it condescending and frustrating.