Question by Bubba Sparks: Do you think the economy will rebound on its own with no package?
I have asked a similar question before but nobody really answered it.
Warren Buffett- “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”
To me, he is a very credible source. I agree something needs to be done. Would it be possible that Buffett is wrong and eventually the economy rebounds itself without doing anything?
If Obama does nothing and economy crashes, Republicans would criticize. If he does something, Republicans still criticize. There is no winning is there?
Answer by Senor Magoo
I would not use Warren Buffett as an authority on anything. He is heavily invested in companies that would benefit from a bailout at the taxpayers’ expense.
Buffett is the last person I would trust.
Know better? Leave your own answer in the comments!