‘Financial panic' over, Warren Buffet says
Capitalism is still alive and well, say the world's two richest men, despite lingering shocks from the longest, deepest recession since the Great Depression.
“The financial panic is behind us,” said famed investor Warren Buffett, who recently made what he called an “all-in wager” on the U.S. economy by acquiring railroad Burlington Northern Santa Fe. “The bottom has come in stocks. Don't pass on something that's attractive today.”
Sitting facing each other in an auditorium filled with nearly 1,000 cheering people at Columbia University in New York, Mr. Buffett, CEO of investment company Berkshire Hathaway Inc., and Microsoft founder Bill Gates fielded questions from Columbia Business School students on the recession, investing, mentors and what's the next Microsoft.
There were at first reassurances that the U.S. economy had not collapsed since the last time the two sat in front of a student audience, in Nebraska in 2005.
Well thats it folks the resession is offically nearly over Buffet and Gates say so, tongue in cheek. Anyone that knows how to read a stock market chart can see thats true. But these guys are wise not to say anything to early and because they are saying it now, its a firm indicator that the well schooled economist are saying it as well.
Sad day for the gloom and doom and anti-Obama propagandists, but hey guys your get another chance in 4 years or so when the next resession raises its ugly head.
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