I saw the thread on Marc Fabers doom and gloom thoughts...

I saw the thread on Marc Fabers doom and gloom thoughts foretelling of war and great financial tragedy...so to balance it up here is a video of an interview with Warren Buffet. I found Buffet to be an upbeat and engaging interviewee. He reflects on past experiences as old men often do and what he has to say makes a deal of sense.

If you don't want to spend half an hour watching the interview the here is the guts of it : He believes the whole 2008 thing was just the US getting ahead of itself as it has done many times in the past. His view is that the economy will pick up sooner than many realize. When the glut of housing caused by the property boom has been absorbed then the building industry will fire up again and as a follow on all other related industries....insulation, carpet etc. Jobs will be created and things will be moving again. He points out that the government is doing all they can but their hands are tied as their is little they can do about the glut of houses...but his numbers indicate that the stock is being absorbed.

I am not sure that the glut will be taken up soon enough to save us from another market plunge in the shorter term....but at least his views are more comforting than the threat of nuclear war.

http://www.bloomberg.com/video/72153912/