Over the past six or eight months we have heard more and more chatter about the dreaded “R” word. The dreaded “R” word being recession, and depending on who you listen to, you have either been laughing at the opportunity of America sliding into a recession, or you have been preparing for the inevitable.

Well, now, trusted billionaire Warren Buffett has come out and stated that America is already “essentially” in a recession. Buffett is basing his stance on numbers he has seen from his retail commerce that show a meaningful slow down in spending. While he has stated that we have basically already entered into recessionary times, he

stopped short of predicting just how naughty things would get.

While we may not be technically in a recession period, according to Buffett, we are in the middle of a commonsense recession. Not only does he see retail spending on the decline, but additionally pointed to the fact that an untold millions of Americans have had the misfortune of watching their homes shrink in value, a scenario that has yet to reverse.

Continue reading According to Buffett, America is already in a recession

Original post by Michael Fowlkes

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