Famed investor Warren Buffett has ruled out the possibility of a second recession in the U.S., saying businesses owned by his Berkshire Hathaway Inc. are growing.
According to Buffett, banks are lending again, businesses are hiring employees and he expects the country to come back stronger than ever.
Bloomberg: “I am a huge bull on this country,” Buffett, Berkshire’s chief executive officer, said today in remarks to the Montana Economic Development Summit. “We will not have a double-dip recession at all. I see our businesses coming back almost across the board.”
The billionaire’s outlook contrasts with the views of high-profile economists such as Nouriel Roubini and Martin Feldstein, who have said the odds of a double – dip recession may be one in three or higher.
“I’ve seen sentiment turn sour in the last three months or so, generally in the media,” Buffett said citing the health of his portfolio companies, where employee totals have been on the rise in recent months. “I don’t see that in our businesses. I see we’re employing more people than a month ago, two months ago.”