Buffett: No Double-Dip; Banks Ready to Up Lending

Warren Buffett says the U.S. economy will not slip into a “double-dip” recession.

“I am a huge bull on this country,” Buffett told the Montana Economic Development Summit on Monday, according to Bloomberg. “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. But, he added, “I don’t see that in our businesses. I see we’re employing more people than a month ago, two months ago.”

Buffett also said U.S. banks are ready to increase lending, according to Bloomberg, which says he encouraged entrepreneurs to seek financing for their business ideas. Referring to one of his firm’s largest holdings, Buffett said, “I know Wells Fargo, they would love to have $50 billion more of loans now. Go in and talk to the banker.”

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