US economy ‘flat on the floor’ says Buffett

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Warren Buffett, the world’s leading investor, was quite candid yesterday in his views on the US economy. `In my adult lifetime, I don’t think I’ve ever seen people as fearful, economically, as they are right now,’ Buffett, 78, told PBS. ‘They are not wrong to be worried’. He added that a lack of short-term credit is `sucking the blood out of the economic body of the United States.’

Buffett is a long-term investor, who says his favoured holding period for stocks is ‘forever’. But even he added that, whilst he assumes a bailout bill will soon pass Congress, he doesn’t expect much improvement in the economy over the next 6 months.

About Paul Hodges

Paul Hodges is Chairman of International eChem, trusted commercial advisers to the global chemical industry. He also serves as a Global Expert for the World Economic Forum. The aim of this blog is to share ideas about the influences that may shape the chemical industry and the global economy over the next 12 – 18 months. It looks behind today’s headlines, to understand what may happen next in critical areas such as oil prices, China and Emerging Markets, currencies, autos, housing, economic growth and the environment. Please do join me and share your thoughts. Between us, we will hopefully develop useful insights into the key factors that will drive the industry's future performance.

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