WARREN BUFFETT Quote : Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.
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Thursday, July 12, 2012

Warren Buffett: US Economic Growth Slowing, Europe Slipping Pretty Fast

Warren Buffett :"for a couple of years i've been telling you everything except residential housing was improving at a moderate rate, not crawling but not galloping but the last two months it's been sort of the opposite. the general economy in the united states has been more or less flat, and so the growth is tempered down, but the residential housing we're seeing a pickup, and it's noticeable, it's from a very low base and it doesn't amount to a whole lot yet but it's getting better, and so we've got a flip-flop on that." ,Warren Buffet Berkshire Hathaway CEO, discusses the outlook on the U.S. economy; the decline in Europe over the past several months; and a pick-up in the homebuilders space, adding a strong comeback in housing is necessary for an overall recovery.

Buffett says he "doesn't know" if the euro will still be a currency ten years from now. He thinks the euro zone can't exist as "originally designed." Asked about the scandal surrounding interest rate manipulation by Barclay's and other banks, Buffett called it a "big deal" and "can of worms" that "shakes your faith in certain institutions." He believes Barclays CEO Bob Diamond had no choice except to resign. Buffett did endorse JPMorgan Chase CEO Jamie Dimon, calling him "one of the best bankers in the world" who "understands banking and understands risk."