"I Am a Huge Bull on This Country"

Warren Buffett made a speech in Montana yesterday that may have been the clearest sign yet that we are not headed for a double-dip recession. He's just one investor, of course, but Buffett has been the most successful long-term economic seer of our lifetimes. His investment vehicle, Berkshire Hathaway, owns insurance and real estate businesses among many other holdings, and recently bought Burlington Northern Santa Fe railroad.

And these businesses, Buffett reports, look pretty solid. "I've seen sentiment sour in the last three months or so, generally in the media," he told the Montana Economic Development Summit. "I don't see that in our business. I see we're employing more people than a month ago, two months ago."

There's no reason that Buffett has to be right about this, and that people predicting a double-dip are wrong. But Buffett has a lot of skin in the game, and as a famously long-term investor, he's got no reason to puff up his short-term prospects. "I am a huge bull on this country," he said. "We will not have a double-dip recession at all. I see our businesses coming back almost all across the board."