Buffett calls a recession a recession

Warren Buffet should have wisely kept his big mouth shut again. The Weenies on Wall Street have had enough problems coping with off hand comments from Greenspan and Bernacke. He is simply adding fuel to the fire. Have to wonder whether their making such comments are from poor judgement or with the full knowledge that the result will give them and their friends another chance to buy low and sell high.

I agree Warren Buffet, Greenspan and Bernarke
shoud keep out of it all of them have their pockets full probably some of ours. With the kind of money theyhave it will help them if everything goes to rock bottom they can make another killing but Buffet and Greenspan better remember they are not going to live forever!!!!!!!!!!!!!!!!

Warren Buffett's big purchase of Kraft stock looks more interesting in light of his recent comments on agricultural commodities. Noting that his son is a farmer, he said the ag commodities have had a good run and productivity has been improving fast in agriculture so it isn't like oil where we have a finite amount available. (see the synopsis of Warren Buffett's extensive comments in the Billionaire Watch- yellow label, top- at http://www.Barrelomoney.com). If he thinks ag prices are close to a top it certainly clarifies why he would buy so much of a struggling food stock like Kraft Foods. Kraft is cheap but it has been a poor performer and it has been hobbled by high costs for ingredients- especially items like cheese. If ag commodity prices slow, that would help companies like Kraft. Kraft has been behind the curve in raising prices as costs have risen and they are working to correct that but some moderation in commodity costs would sure help.