Warren Buffett's biggest claim to fame over the span of his illustrious multi-decade career has been his unmatchable investing prowess. However, droves of individuals on Wall Street and Main Street also consistently turn to the Oracle of Omaha in order to gain insight into current events and hear his outlook for the U.S. and global economy. The chairman of Berkshire Hathaway(BRK.A_) chairman sat down with CNBC's Becky Quick in Sun Valley, Idaho to touch on topics ranging from the U.S. debt ceiling debates to the corporate jet industry. As in the past, the billionaire investor provided viewers with valuable insight blended with a touch of the folksy, down home charm he is known so well for.
During the conversation, Buffett had some choice words for Washington legislators when the topic of the U.S. debt ceiling was brought up. Calling the argument "silly," and likening the debate in Washington to a game of Russian roulette, he warned that major risks could arise in the event that the ceiling is not raised.
Although he has traditionally been known for his views regarding the U.S. markets, Buffett also took time to share his views on the European debt crisis. Overall, "concerned" seems to be the word to describe the investor's attitude towards this geographic region. Buffett noted that Greece and the rest of the euro monetary bloc still have ample work to do before their debt issues are resolved.
Buffett's comments regarding the ongoing debt ceiling discussion and the European debt crisis seemed to spark feelings of frustration and concern. However, in talking about the current state and future prospects of the U.S. economic recovery, the Oracle of Omaha appeared generally bullish.
In his most recent comments, Buffett homed in on the job market, noting that the outlook for employment is improving. Speaking from his own experience, the investor proclaimed that Berkshire Hathaway has seen a boost in employment from two months ago.
In order to spur the recovery further, Buffett said that construction will have to play a larger role. According to CNBC, the investor highlighted this industry as a noticeable laggard, but that when it gets back on track the improvement to the employment picture will be dramatic. Read More
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