On the eve of Barack Obama's inauguration, Warren Buffett has come out saying that the US is in the grip of an "economic Pearl Harbor", not as bad as World War Two or the Great Depression, but still pretty severe. In an interview with NBC Tom Brokaw, Buffett says Obama is the leader who can steer America through the crisis. "He is absolutely the right commander in chief. That's another thing the American people seem to do occasionally. We elect people that are right for the time, whether it was Lincoln or Roosevelt."
You can watch the video of the interview brought to you by The Women On The Web site, and judge for yourself.
Of course, there might be some danger signals. Last week, the US Senate released the second portion of the $700 billion bailout fund but a vote of 52 to 42 suggests there could be future resistance to more bailouts and stimulus packages. Also, foreign investors might balk at the US spending its way out of recession with packages of up to $1.4 trillion.
To quote Obama's hero, Abraham Lincoln, you cannot escape the responsibility of tomorrow by evading it today.
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