Pros Say: Commodities Run to Continue Through Late Summer
Markets posted gains on the strength of Monday's good news from the housing and manufacturing sectors. In the meantime, Warren Buffett told CNBC that although the economy is "very slow," he remains optimistic that the economy will eventually improve. Watch the accompanying videos for more on what other experts had to say...
Buffett on the Economy
Warren Buffett, chairman and CEO of Berkshire Hathaway, said he is still "100 percent enormously optimistic" about the U.S. economy over long-term, but doesn't see short-term signs of a pick-up. "American economy is slow, and still getting slower, but that will turn," he said. He said there are some signs of a turnaround in residential real estate
Room to Run for Commodities?
Mark Hansen of the CPM Group said he thinks the commodities bounce would continue throughout the late summer. Although China is currently an aggressive buyer of commodities, Hansen said it may not continue. He also suggested that by autumn, oil could trade up to $65 a barrel.
Carbon Cap Trade: ‘Monstrously Stupid’
Berkshire Hathaways’ vice chairman Charlie Munger said it would be “monstrously stupid” to rush into a carbon cap and trade systemin the middle of an economic crisis. Instead, he said the U.S. needs to invest in a new electricity grid and shift to more solar power use.
The Not-So Charitable Economy
The latest victims of the sagging economy: charities. Microsoft founder and philanthropist Bill Gates said the once affluent and charitable companies are giving less which is having a devastating effect on charitable giving.
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