Warren Buffett, in an interview with CNBC, said today that the US economy has “fallen off a cliff” adding that economic developments have been “close to the worst case” that he had envisioned.
Mr Buffett feels the message from the US government has been “muddled” , leaving Americans confused and prompting them to pull back. He feels the speed of recovery could well depend on the wisdom of the government policy and how well it is communicated. Buffett says Democrats and Republicans should join together to help fix the economy rather than act on behalf of partisan interests.
On a slightly more upbeat note Buffett feels that although the economy “can’t turn on a dime” and that economic turnaround “won’t happen fast”, still in five years from now the economy will be running fine.
