[UPDATE] Group Says Recession Has Ended, Warren Buffett Disagrees

By: AP
By: AP

Omaha, Nebraska (AP) --

Billionaire Warren Buffett says the economy remains in a recession, by his definition, because most people and businesses still aren't doing as well as they were before the financial crisis.

Buffett's assessment of the economy contradicts the view of
experts who announced this week that the recession officially ended
in June 2009. But Buffett says he uses a commonsense standard to
evaluate the economy.

Buffett gets insight into the health of the economy through the
performance of Berkshire's subsidiaries. Buffett's Omaha-based
company owns clothing, insurance, furniture, utility, jewelry and
corporate jet companies.

------------------------------------

WASHINGTON (AP) --

It's official: The longest recession the country has endured since World War II ended in June 2009, according to a group that dates the beginning and end of recessions.

The National Bureau of Economic Research, a panel of academic
economists based in Cambridge, Mass., says the recession lasted 18
months. It started in December 2007 and ended in June 2009. That
was the longest of any recession since World War II. Previously the
longest postwar downturns were those in 1973-1975 and in 1981-1982. Both of those lasted 16 months.


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  • by PrezNixon Location: Tally on Sep 24, 2010 at 07:15 AM
    @ J Timney....Like what, name something good he has done, anything.
  • by me again on Sep 24, 2010 at 07:14 AM
    The dim-ocrats that voted for the Liar-in-Chief will believe anything they are told....they have no mind of their own or can think on their on....heck, most of them dont work so it makes no difference to them, they still get their government handout with our hard earned money.
  • by TallyTrashTalks2 Location: Tallahassee on Sep 23, 2010 at 08:41 PM
    I highly suggest people read more about Warren Buffett and LISTEN to the man!! He didn't become President for power tripping BS. He became a BILLIONAIRE for smarts!!
  • by J. Timney on Sep 23, 2010 at 05:30 PM
    Georgia Boy.... Enough with the long story. Obama has done more for this country in 18 months than your redneck bush did in 8 years.
  • by Arman Dillow Location: Forest on Sep 23, 2010 at 02:36 PM
    Buffett is a smart rich guy - but not an economist. The recession will end when people believe it has ended and have confidence - and all the nay-sayers prolong our suffering. Perception is indeed the reality.
  • by he did it for votes Location: tally on Sep 23, 2010 at 12:46 PM
    obamas flock will believe anything he says...
  • by Georgia Boy Location: Cairo on Sep 21, 2010 at 02:59 AM
    Sure, it did. That's why there is celebrating in the streets, Obama is embraced as a hero rather than a goat, and prosperity and jobs abound. No, it's another case of defining what something is and then using that definition to say that something has occurred. It doesn't matter whether it has actually occurred or not. Much like changing statistics by changing the definition of "rich" or "poverty" or "poor." The thing is the definitions are often changed so there is no way to make a valid comparison of statistics from year to year, despite they should be the same statistics.
  • by RALO Location: TALLAHASSEE FL. on Sep 20, 2010 at 02:27 PM
    OK well were are the JOBS.........
  • by Surprise Location: leon county on Sep 20, 2010 at 10:05 AM
    Say what? Did this group of democrats try to explain like duh huh the last 15 months? Gezzzzzz Whizzzzz they do think We the People are brain dead.
  • by denise Location: c'ville on Sep 20, 2010 at 09:08 AM
    Yes. The recession ended and the depression began.
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