Warren Buffett Upbeat About Economy

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SAN FRANCISCO (GaeaTimes.com)- The CEO and Chairman of Berkshire Hathaway, Warren Buffett has expressed his view that the possibility of another recession hitting the US and global economy is quite remote. On the contrary the billionaire investor has said that he anticipates a bright future for the US economy. He said that the country has survived worse times like the great depression and two world wars earlier and this time also the Americans will emerge victorious despite recurring financial woes. As a proof of his claim he said that the banks are doing well, the companies are recruiting people and thee indicate that the economy will take an upward surge.

The view expressed by Warren Buffett was also echoed by Steve Ballmer, the Microsoft Corp. CEO and Jeff Immelt, the chairman of General Electric Co. The CEO of Microsoft further said that the upcoming technologies will boost job creation and more people will get employment. Warren Buffett spoke on the future of the US economy at the Montana Economic Development Summit which hogged plenty of media attention.

Warren Buffetts’s predictions however did not have any drastic effect on the Wall Street as was evident from the records. It might be recalled in this connection that he also expressed optimistic views of the state of the economy earlier. The Berkshire Hathaway Inc chairman was quite optimistic about his view that the so called double dip recession is not going to take place. He said that he is happy to see the major companies doing brisk business and the rate of unemployment not going up.