Warren Buffett Remains Optomistic about the Recovery.

[madinmaryland]

OMAHA, Neb. -- Billionaire Warren Buffett wants Americans to be optimistic about the country's future but wary about borrowing money and the games public companies play with profit numbers they report.

Buffett said in his annual letter to Berkshire Hathaway shareholders Saturday that he still believes America's best days are ahead.

"Commentators today often talk of 'great uncertainty.' But think back, for example, to December 6, 1941, October 18, 1987 and September 10, 2001," Buffett wrote, referring to the days before the Pearl Harbor attack, a stock market crash and terrorist attacks in the U.S. "No matter how serene today may be, tomorrow is always uncertain. Don't let that reality spook you."

He said a housing recovery will likely begin within the next year, which would help the economy and several Berkshire subsidiaries, including ones that make carpets and bricks.

Read more: http://www.washingtonpost.com/wp-dyn/content/article/2011/02/26/AR2011022601296.html?hpid=topnews

Color me skeptical about this so-called recovery. Until the jobs come back, and jobs that pay a living wage, I will remain skeptical.

[Curmudgeoness]

1. I hope he is right, but I doubt it. I do not see how

enough good paying jobs will materialize to move this "consumer driven" economy in the right direction.

But then again, the recession has been over for a long time now, and the stock market has been doing very well. So maybe in his world, there is reason for optimism.