Buffett Rules Out Double-Dip Recession

Butte, MT, Sept. 14, 2010--Warren Buffett, whose Berkshire Hathaway owns Shaw Industries, said a double dip recession won't happen.

“I am a huge bull on this country,” Buffett, Berkshire’s CEO, said at the Montana Economic Development Summit. “We will not have a double-dip recession at all. I see our businesses coming back almost across the board."

“I’ve seen sentiment turn sour in the last three months or so, generally in the media,” Buffett said. “I don’t see that in our businesses. I see we’re employing more people than a month ago, two months ago.”

Buffett said U.S. banks were ready to boost lending and encouraged entrepreneurs to seek financing for their business ideas. Berkshire is the biggest shareholder of Wells Fargo & Co., the top U.S. home lender.

Related Topics:Shaw Industries Group, Inc.