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US Economy – World’s Greatest Investor Speaks his Mind
There has been financial markets action that suggests that people are indeed concerned with the direction of the US economy. These concerns were reinforced last week with economic data showing the unemployment rate had grown to 9.2% as the US economy only added 18,000 jobs last month. Any continued weakness in the job market will adversely impact upon the levels of consumer spending.
Billionaire Warren Buffett said he is wagering on continued US economic expansion and he doesn’t expect a second recession. Buffet told Bloomberg Television’s Betty Liu on the “In the Loop” program, “How fast the recovery will come, I don’t know. I see nothing that indicates any kind of a double dip.”
Concerns for not only US economic growth but also world growth have resulted in share markets all over the world falling.
As long term investors what should we be doing?
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