Warren Buffett On The Economy, The Deficit, LeBron James And BP (VIDEO)

When he looks at the economy, Warren Buffett sees "recovery."

In an exclusive interview today with Huffington Post and Yahoo! News, Buffett told Willow Bay that he disagreed with the recent statement by New York Times columnist and Nobel Prize winning economist Paul Krugman that we are "in the early stages of a third depression."

In the interview, Buffett says "we're on the right course" and encourages President Obama to speak with "enormous confidence" about the country's economic future. He says the stimulus is working and the economy will improve in the next 2-3 years. "We're hiring," he adds referring to many of his Berkshire Hathaway companies, another sign that the recovery is on track.

Check out Buffett's views on the economy -- and his comments on the deficit, his personal finance tips and his take on Lebron James's free agency decision.

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Buffett On The Economy

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Comments

[Quinny]

05:13 PM on 07/31/2010

When Warren said "We're coming back" he left out "My Billionaire friends
and I..."

[madgrrl]

09:33 AM on 07/30/2010

Warren Buffet is the man!! Love you Warren! If all capitalists were like him the world would such a better place.

[Roxanna]

10:51 AM on 07/26/2010

The Guy is saying it is coming back because once again he is interested in his stock holders believing in his devalued stock !
He is trying to inspire confidence in a system that is broken as Americans have been stripped, so he can continue to keep what he has...

[one for the road]

04:45 PM on 07/22/2010

This guy is so full of chit,its coming out of his ears.
This guy is a predator.
How many people did he have to screw to get that much money?

[Credence]

01:39 PM on 07/15/2010

I love Warren Buffett but he slipped slightly in my estimation because he didn't even mention the ratings agencies as being a huge cause of the crisis of 2008. Berkshire Hathaway has a large stake in Moody's, and I think that's why he didn't mention them. He emphasized (in his understated way) that home-owners were the main cause which is true but they were not alone: mortgage-backed derivatives based on shaky mortgagees, lack of regulatory enforcement on banking institutions and the bogus ratings from the ratings agencies. Who would have purchased those toxic securities had they not been rated triple A by the ratings agencies? Most of the world would not have. It still confounds me how the ratings agencies barely attracted attention over their culpability in the crisis, or that no one has sued them yet. Sorry Warren!

[banker67]

07:15 PM on 07/12/2010

Does his company now own BP stock? Has it in the past profited from BP's clearly documented refusal to obey law and regulations?
If not, good for him.

[Greyfox01]

12:24 PM on 07/11/2010

From time to time I get the impression the old boy is lossing it.

[samuidave]

11:00 PM on 07/10/2010

Of course he wants to save the capitalist corporatocracy system. And even if he's wrong, how does it change his world?

Everyone knows the psychological confidence factor will be critical. Rallying the troops is the usual battlecry.

[Rapier]

12:39 AM on 07/10/2010

Cinderella, get on that coach before midnight!

[CarmanK]

08:06 PM on 07/09/2010

Sorry about that! typing error. We need to save the souls of the rich by taxing them more. After all Jesus said: "it is easier for a camel to pass through the eye of a NEEDLE than for a rich man to get to heaven." Tax those bankers and hedge fund managers, SAVE THEIR SOULS. Tax those oil company moguls and save their souls. If the Senate is really interested in serving the rich, they should act post haste to save their souls from SATAN's grasp!!! TAX, TAX, TAX them into heaven!!

[dawnlight48]

06:07 PM on 07/30/2010

Yikes that is really creepy. Who the "hell" do you think you are, God?

[CarmanK]

08:00 PM on 07/09/2010

One thing I am sure of is that Warren Buffett loves this country and wants to see our democracy thrive. The same cannot be said for many of the Wall Street moguls and politicians who spit on the US constitution and would support a return to the days of great income desparities and a new class of rich. Kristol supposedly said that there was no super class, because the "ordinary could travel first class, own a car and enjoy vacations". As long as the super rich lived in the real world, the US remains classless. Well we know now, that the super rich are building their gated communities, hiring their private security, traveling on their private jets, supporting exclusivhe-ethnic separated country clubs etc..Kristol was wrong. The super rich are living in their own bubbles and the rest of us are left with the crumbs. Oh, those "small people"will just have to get along!! How small do you feel in this Ronald Reagan-Bush/Cheney world of -" Hate those immigrants, bow to the filty rich and leave governance to those that know how to make money". I think we all ought to rebel, and by being good christians and save the souls of the rich by taxing them more!! After all Jesus said: it is easier for a camel to pass through an eye of a camel than for a rich man to enter the kingdom. We need to save the souls of the rich!!

[furby3]

01:06 PM on 07/10/2010

Warren doesn't love more, he just handles the press better. You don't get rich by being nice.

[lentinelia]

06:59 PM on 07/09/2010

"When you look at this recovery, what do you see?"
"I see a recovery."

When you look at this microphone, what do you see?
I see an ice cream cone.

When you look at this ice cream cone, what do you see?
I see laundry.

[raydeanturner]

06:29 PM on 07/09/2010

Good ol' grandpa Warren. He feels so bad about all of the people, companies, employees, and family members he's hurt, that he needs to try and assuage his guilt by trying to prove to us he's a caring, giving person now. He wants to show us all how we should live. What a hypocrite. It's easy to look down from the mountain you climbed, when you trampled on the backs of innocent hard working people all over the world. He owns a big stake in Wells Fargo. Are they hiring Warren? Oh, that's right, they just laid off almost 3000 people and are closing 600 branches, but "everything's fine in Warren's world".

I wish he'd sell an insurance policy where we could insure ourselves from more economic damage caused by he and all of the other robber-barons that keep telling us "everything is fine".

[yougg]

04:29 PM on 07/09/2010

Don't depend on the government too much. We are in a pickle. We have been exporting jobs and industries for years. You have to learn to adapt. Starting your own business is probably the best way to get some cash flow.

[furby3]

01:06 PM on 07/10/2010

Just one problem, how do you start a company that can compete with China?

[chaz]

04:17 PM on 07/09/2010

Great interview. What a difference between this and Fox News and yet Fox is number one.

[GEevendale]

09:07 AM on 07/12/2010

I think Pox is #2, if you know what I mean...