by Peter Cooper, Arabian Money:
The Sage of Omaha has spoken. On Fox News yesterday Warren Buffett dismissed the possibility of an interest rate rise in the middle of this year. To paraphrase this multi-billionaire, the global economy is too weak to allow it to happen: money would flow from Europe to the US disrupting the delicate balance of a global economic slowdown. The signs of the slowdown are only too obvious if you care to look around: the slumping price of oil, iron ore and copper; falling US and Chinese order books; monetary policy easing by 13 central banks; the uneasy sight of the UK as the world’s best performing economy in a deliberating engineered pre-election boom set to end shortly after May 7th; and disappointing Q4 US economic growth.
Global recession: All these indicators are harbingers of the next global economic recession which has probably already started.
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