Recession on the Way

Back in March, Warren Buffet declared that, "From a common-sense standpoint right now, we're in a recession." When I heard this, I was not quite convinced. Who is this old bastard from Omaha anyway? Then I heard Young Jeezy's song "Put On." Here Jeezy emphatically declares, "recession on the way."

No surprise that there is a Jay-Z remix of this song. Jay-Z has been bearish on the economy since the release of his American Gangster CD. In the video for "Blue Magic," he waved Euros to symbolizing his lack of conviction in the greenback. Further, in "Jockin' Jay-Z," he also alludes to the recession saying, "Fuck talking bout the recession it's depressin." The recession certainly is depressing, but Jay might be more depressed about a Euro trade gone wrong. If he has been long Euros for the past 11 months he has not been doing too well.

Fortunately, Lil' Wayne waded in on the controversy and cleared a lot of things up, saying, "Nah man, it ain't so bad. Shit, I lost some money on pork belly futures, but you know I made bank shorting oil last month. You got to be on the grind every day in this kind of market."

Buffet also mentioned that he puts on for his city (Omaha, Nebraska).