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Warren Buffett: Barack Obama Will Help the Economy, But Don't Expect Short-Term Miracles
Warren Buffett says "you couldn't have anybody better in charge" for the economy than Barack Obama, but warns "it's going to take time" before things get better.
In an interview with Tom Brokaw for Dateline NBC, Buffett says there's a lot of fear everywhere as the country faces "an economic Pearl Harbor .. something it hasn't faced since World War II."
Buffett predicts that Obama's plan for a massive stimulus program will help, but not right away.
"We're gonna have a medicine coming in a dosage we've never seen before ... but it won't have immediate impact ... It takes time for it to hit the economy in real force. So people should not expect miracles in February or March or April. That isn't gonna happen."
Read more...
Cheers
Marc
Warren Buffett says "you couldn't have anybody better in charge" for the economy than Barack Obama, but warns "it's going to take time" before things get better.
In an interview with Tom Brokaw for Dateline NBC, Buffett says there's a lot of fear everywhere as the country faces "an economic Pearl Harbor .. something it hasn't faced since World War II."
Buffett predicts that Obama's plan for a massive stimulus program will help, but not right away.
"We're gonna have a medicine coming in a dosage we've never seen before ... but it won't have immediate impact ... It takes time for it to hit the economy in real force. So people should not expect miracles in February or March or April. That isn't gonna happen."
Read more...
Cheers
Marc