Buffett says recession may be worse than feared
Warren Buffett, the world's richest person, said on Monday the U.S.
economy is in a recession that will be more severe than most people
expect.
Buffett made his comments on CNBC television after his Berk****re
Hathaway Inc
"This is not a field of specialty for me, but my general feeling is
that the recession will be longer and deeper than most people think,"
Buffett said. "This will not be short and shallow.
"I think consumers are feeling gas and food prices," he added, "and
not feeling they've got a lot of money for other things."
He was not immediately available for further comment. Known for his
frugality, the 77-year-old Buffett has lived in the same 10-room
Omaha, Nebraska, house for a half-century, despite being worth an
estimated $62 billion. "I think this is going to be fairly long and
fairly deep, but who knows," he said.
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