View more on these topics

Buffett says US will avoid double dip

Investment guru Warren Buffett has predicted that the US will avoid any sort of double dip recession.

According to reports, Berkshire Hathaway chairman Buffett told delegates at the Montana Economic Development Summit that the US economy will bounce back as it did after the Great Depression and the Second World War.

He said: “I see our businesses coming back across the board. I am a huge bull on this country and we are not going to have a doubled dip recession at all. This country works and the best is yet to come.”

At the same event, GE chairman Jeff Immelt also sounded bullish on the US economy. He said GE was already showing signs of recovery but warned that the American economy has to move over to that of an exporter rather than consumer if it wants to reduce its deficits.

Immelt said the attempts in the past to make the USA an economy of service was “stupid” and “insane”. He said: “The future of the economy has to be as an exporter.”

Recommended

Link-up for advice website

Personal finance website Interactive Investor has teamed up with IFA firm Lee Associates to offer a new online service, Interactive Financial Adviser. The website, which launched on September 1, offers execution-only transactions as well as access to full financial advice through Cambridgeshire IFA Lee Associates. Users can get information about financial products on the site, […]

Buffett says US will avoid double dip

Berkshire Hathaway chairman Warren Buffett predicts the US will avoid a double-dip recession. He says despite sentiment on the US recently turning sour, businesses are recov-ering across the board.

MM Leader: Framework for a full debate

Money Marketing’s Pave The Way to Save campaign is calling for a more constructive approach to regulation from the new Consumer Protection and Markets Authority. With the Government proposing to break up the FSA, now is the time to look again at how financial services regulation is working in the UK and improvements that can […]

India: too big to ignore?

By Kunal Desai, head of Indian Equities, Neptune  India is officially the world’s fastest-growing major economy and remains firmly on track to become the third-largest economy by 2030, overtaking Japan and Germany. As an accelerating labour force combines with increasing labour productivity, is India getting too big to ignore? Click here for full article   […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment