Susie Gharib interviewed Warren Buffett for an airing on Nightly Business Report and among other things, I found this quote particuarly interesting with regards to economists and the need to act now.
"Economists like to talk about it, but in the end they’ve been very, very wrong and most of them in recent years on this. We don’t know the perfect answers on it. What we do know is to stand by and do nothing is a terrible mistake or to follow Hoover-like policies would be a mistake and we don’t know how effective in the short run we don’t know how effective this will be and how quickly things will right themselves."
--Warren Buffett
President Obama's 100 hours have been a major push to get the economy moving with a multi-billion dollar stimulus package and tax cuts.
What are your thoughts?
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