Warren Buffett Says Economic Recovery Will Be Painful

warrenbuffett Warren Buffett Says Economic Recovery Will Be PainfulAdorable billionaire Warren Buffett — who’s soon to be played by the guy who voiced the old man in Up — thinks the economy will remain shaken by the shock of the 2008 financial crisis “for a long time,” Bloomberg reports.

In a pre-recorded video that was played for a conference audience in Airport City, Israel, Buffett said the worst is over but the economy will continue growing at a very slow pace.

Buffett just last week said he thought that stocks were undervalued and that bonds, which have been on an upward tear, were overpriced.

Back in September, Buffett said the U.S. economy is not headed for a double-dip recession and that he’s a “huge bull on this country.” Although that prognostication may appear to differ markedly from Buffett’s current view that America is in for economic pain, it helps to remember that the octogenarian investor is famous for taking an extraordinarily long view. As such, his short-term predictions may differ with longer-term attitudes.

mtaylor@observer.com

Twitter: @mbrookstaylor