Buffett sees "long, deep" U.S. recession

[moh malekpour]

http://news.yahoo.com/s/nm/20080524/bs_nm/buffett_us_recession_dc;_ylt=Aj7dgF1uQvYkg4qhkWIvhTCyBhIF

BERLIN (Reuters) - The United States is already in a recession and it will be longer as well as deeper than many people expect, U.S. investor Warren Buffett said in an interview published in German magazine Der Spiegel on Saturday

He said the United States was "already in recession" and added: "Perhaps not in the sense that economists would define it" with two consecutive quarters of negative growth.

But the people are already feeling the effects," said Buffett, the world's richest man. "It will be deeper and last longer than many think."

 

[Lloyd Bonafide]