LIVE BLOG: Warren Buffett on CNBC's Squawk Box - 7am ET Hour

THIS IS A LIVE BLOG OF WARREN BUFFETT'S APPEARANCE ON CNBC'S SQUAWK BOX DURING THE 7am ET HOUR. BUFFETT IS LIVE AT THE NEBRASKA FURNITURE MART (A BERKSHIRE HATHAWAY SUBSIDIARY) IN OMAHA WITH OUR BECKY QUICK TO ANSWER YOUR EMAIL QUESTIONS.

CLICK HERE FOR THE LIVE BLOG OF BUFFETT'S COMMENTS IN THE 6AM ET HOUR OF SQUAWK BOX.

CLICK HERE FOR THE LIVE BLOG OF BUFFETT'S COMMENTS IN THE 8AM ET HOUR OF SQUAWK BOX

7:01 am

Repeats his belief that dollar will continue to fall as long as current account deficit remains high. Becky asks why he's not shorting the U.S. dollar. He says carrying costs are too high.

7:03 am

Becky asks why he thinks U.S. now in a recession. He replies he sees lots of indicators, including sales at his businesses and the reduction in people's net worth. He's sure there is a recession, not sure how far it will go.

7:07 am

Joe Kernen asks if free trade is a negative for the United States. Buffett says he believes in free trade, but he thinks we shouldn't "force feed" U.S. dollars to other countries by importing more than we export.

7:08 am

Carl asks if a weaker dollar is a net benefit. Buffett says it certainly helps exports, but even so U.S. is losing some business to European companies, citing Boeing loss of a big Pentagon contract last week.

CNBC has scheduled a one-hour special program on Buffett's unprecedented Squawk Box appearences.

It's called Warren Buffett - The Billionaire Next Door: Face to Face. It will be hosted by Becky Quick and airs tonight, Monday, March 3 at 9pm ET.

7:10 am

Becky asks about possible successors for chief investment officer job at Berkshire Hathaway. In Letter to Shareholders, Buffett says he's identified four possibilities. She asks if any of the four are women. Buffett says no. He says he didn't hear from many women, maybe 3 percent who applied.

7:14 am

Buffett will return later in the hour to answer email questions.

7:21 AM

Buffett says he's finding more opportunities right now in the fixed income market than in the stock market, although there are opportunities in both.

7:23 AM

Joe asks if Buffett is more negative now than has been in a few years. Buffett replies that over time, everything will be OK. Everyone's children will live better in the future than their parents live now. The U.S. still has a market system and a metitocracy and will continue to do well.

7:39 AM

Buffett says Bob Iger has done a "terrific", "first-class" job as CEO of Walt Disney. Buffett says he doesn't own Disney or GE because the market already recognizes that they're doing a great job.

7:40 AM

Stephen in Virginia asks why Buffett is allowed to withhold some stock buying information by the SEC and he isn't. Buffett says it isn't a special allowance for Berkshire Hathaway.

7:41 AM

Buffett: If you loan too much money on anything, you're going to lose money, if the companies borrowing are good.

7:42 AM

Gordon asks, "What do you put on your hamburgers?" Buffett replies, "A lot of salt."

7:42 AM

Unemployment is going the wrong direction and there are factors that will keep it going that way.

7:43 AM

Buffett says he would put either Hillary Clinton or Barack Obama in charge of a business, although perhaps not making investment decisions for Berkshire Hathaway. "One of them will be looking for a job" soon and he'd be happy to give one.

7:44 AM

World has gotten tilted to the super-rich. Becky: Why don't you give your money to the government if you think you're not taxed enough? Buffett: Foundations I'm giving money to will do a better job, but if the choice was give the money to the government or create a "dynasty of Buffetts", he would give the money to the government.

7:50 AM

Buffett: Ethanol is an inefficient way of upgrading gasoline.

7:50 AM

Does media hype drive up market prices? Buffett says staying ignorant doesn't help markets. There's going to be spot news. "People have themselves to blame for crazy markets." Buffett says he doesn;t look at Berkshire Hathaway's stock price every day. The "market is there to serve you, not to instruct you."

7:52 AM

Jerry from Chicago asks how he would structure fees if Berkshire were still a partnership? Buffett advises everyone to read Jack Bogle's book on low-cost mutual funds.

7:53 AM

Q: Would you be the same man if you had been accepted to Harvard Business School? A: No, because I wouldn't have connected with Ben Graham and I wouldn't have had a chance to court my first wife. Overall, he's happy he wasn't accepted by Harvard.

7:54 AM

Reed from Michigan asks, "Do you pay your own bills and go to the convenience store?" Buffett replies he likes to go to supermarkets, but his assistant fills out his checks and he signs them.

7:59 AM

On to the 8AM ET hour of Squawk Box live blogging.

Questions? Comments? Email me at [e-mail]