Warren Buffett: No 'Green Shoots,' No Economic Bounce

Billionaire investor and money guru Warren Buffett says he sees no "green shoots" in the U.S. economy.

Everything that I see about the economy is that we've had no bounce. The financial system was really where the crisis was last September and October, and that's been surmounted and that's enormously important. But in terms of the economy coming back, it takes a while. There were a lot of excesses to be wrung out and that process is still underway and it looks to me like it will be underway for quite a while. In the (Berkshire Hathaway) annual report I said the economy would be in a shambles this year and probably well beyond. I'm afraid that's true.

Buffett also opposes "cap and trade," which goes before the full House on Friday.

Buffett repeated his criticism of "cap and trade" as a method to control pollution, saying it would be a huge, regressive tax.

But no one is perfect: Buffett endorsed the reappointment of "Helicopter" Ben Bernacke as Federal Reserve chairman, and praised the work of Tiny "Tax Cheat" Tim Geithner at Treasury.

Then again, Buffett is a guy who is interested in the performance of money, not someone who spends a lot of time worrying about whether government is ethical, or constitutional. That's why big money guys should never be permitted to intertwine their operations with government; they have no love of limitations on anything and thus have a tendency to run roughshod over people (and laws) that get in the way.

I listen to Warren Buffett on money matters, but I'd rather have Jimmy Buffett in Congress.