Warren Buffett on Good Morning America
The interviewer also mentioned (at the end of the video) that she asked Mr. Buffett which one index he follows the most. She said his response was the freight train index because it really shows the movement of raw materials throughout the country. (Will, thanks for passing the video along!)
As debate grows about a possible second stimulus package for the flagging American economy, at least one legendary investor is giving the idea his guarded approval.
"I think that a second one may well be called for," Warren Buffett, the CEO of Berkshire Hathaway, told "Good Morning America" today. But, he added, "you hope it doesn't get watered down in many ways."
Buffett cautioned that a second stimulus package, like the first, won't be "a panacea," because stimulus packages take time to work. He criticized lawmakers' work on the first stimulus package, which contained $787 billion in spending.
"Our first stimulus bill ... was sort of like taking half a tablet of Viagra and having also a bunch of candy mixed in ... as if everybody was putting in enough for their own constituents," he said.
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Related link (Thanks Barry!): Railfax Report
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