Warren Buffett Talks Recession

Over the weekend, Warren Buffett was quoted as saying the United States is already in recession. Over teh weekend, Warren told Germany's Der Spiegel, "I believe that we are already in a recession. Perhaps not in the sense as defined by economists. ... But people are already feeling the effects of a recession."

Mr. Buffett also said that he thinks this recession will be deeper and longer than what many think. Buffett conducted this interview while he was in Europe for what he has termed it a "deferred shopping tour" for new acquisitions for the Berkshire Hathaway (NYSE: BRK.A) portfolio.

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