This is getting ridiculous. The average person doesn’t even know what the definition of ‘recession’ is, let alone if we are in one or not. In fact, if you ask any of those ‘average’ people who he says think we are already in one, they will probably tell you we’ve been in on since September 11th, 2001.

Since when does the world revolve around Mr. Buffett’s personal definition of a recession? Since when should the ‘average person’ listen to one of the richest men on the planet? Do you really think they can relate to anything he says. I’m sure his words help justify the way they feel though, so it makes sense he is playing to the ‘little people’.

Warren Buffett, whose business and investment acumen has made him one of the world’s wealthiest men, was quoted in an interview published Sunday as saying the U.S. economy is already in a recession.

Asked by Germany’s Der Spiegel weekly whether he thinks the U.S. could still avoid a recession, he said that as far as the average person is concerned, it is already here.

“I believe that we are already in a recession,” Buffet was quoted as saying. “Perhaps not in the sense as defined by economists. … But people are already feeling the effects of a recession.”

Of course, if you read this blog, you know Mr. Buffett thinks we are already in a recession, ‘as he defines it’, since he said that almost three weeks ago.

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