Legendary investor Warren Buffet has revealed his thoughts on the potential double dip recession and US economic expansion. His bet is that the double dip is unlikely and the upward rise of the US economy is looking good.
Despite the predictions unemployment rates in the US rose to 9.2% in June. These unemployment rates are at the highest point this year and companies hiring was at its weakest point since May 2010. Warren Buffet has stated that due to these figures it’s clear that a stronger economy is some way off, but there is growth from around the world that can help the market and the US economy rise.
Though we can’t argue with the opinions of such a well-established figure, we can question whether the US has the time? With unemployment rates look pessimistic it seems the economy isn’t quite ready to make the jump. And in the time it takes to do actually make a significant leap, we could have seen another demise. Though it may not be a double dip recession, it may fall enough to make it too tough for a return. With the second recession hitting further down the line.
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