Warren Buffett said today that he expects the U.S. economy is in a recession that will be longer and more severe than most people think.
Buffet is backing the buyout of Wrigley chewing gum, not exactly a luxury goods maker.
Unlike the liars in the federal government, Buffet says that people are feeling the gas and food prices. That’s called inflation by most people. The U.S. Government has chosen to ignore gas and food prices when measuring inflation – saves them money that way. For the most part, only candidates for President who want your vote will admit that food and gas prices are killing the American consumer.
Warren Buffett owns a lot of businesses, many in construction. Buffett sees no relief in sight for the housing sector.
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