The talking head on business networks like BNN and CNBC have been debating the issue now for months, “is the U.S going into recession?”. Some economists are saying yes, while others are saying no. Well Warren Buffet has an answer for us…yes the U.S is in a recession.
Based on the technical definition of a recession (two consecutive quarters of negative GDP growth) we haven’t yet entered a recession. However, Mr.Buffet was recently quoted as saying “I would say, by any commonsense definition, we are in a recession”. That’s good enough for me. If the world most successful investor says we’re in a recession I believe him.