Warren Buffett was in Frankfurt, Germany today where he plans to gobble up European family-owned firms for Berkshire Hathaway. The Sage of Omaha has been very critical of President Bush’s weak dollar policies and wants a larger presence in Europe.
Buffett paused in his shopping spree to share his thoughts on the US economy and credit crunch:
I’ll talk about the United States. I don’t think the effects of the credit crunch are far from over at all.
I think there will be rippling secondary, tertiary effects…It is really more an effect of the residential real estate bubble which led to the credit crunch in some degree.