His unemployment numbers are flawed because the most recent numbers are heavily weighted by the worst winter weather the East has seen in years, dramatically effecting construction employment--which is seeing 20-year high's in some areas! Take out the numbers directly effected by the storm and the unemployment situation is not as dreadful as painted.
The markets have been seriously effected by Arabs dumping their own holdings and selling short (gee--helping undermine our economy is a form of terrorism all unto itself), as well as the impact of hedge funds owned by the likes of Julia Roberts, Michael Eisner, etc.--in other words, liberals who get richer everytime they can create more bad news about Bush and his war economy.
There is always room for negative creeps--and Buffett's predictions of a dire future are directly related to his lovefest of all things Liberal and Democrat.
WE are the economy--and WE make things happen. This guy is no Larry Kudlow!
Larry Kudlow? You got to be kididng me. I do not agree with Buffets political leanings, but he has about the sharpest mind on economics out there. Back as eraly as 97, he was cautious about tech stocks, and he openly questioned their values in 98-99, to the point people said he was a has been. Guess, what, Berkshire Hathaway still has retained 80% of its value, while techs have dropped more than 80%. On the other hand, Kudlow was a cheerleader of the "new economy".
Sorry