Warren Buffett to CNBC: U.S. Economy In "Shambles" .. No Signs of Recovery Yet

In a live interview on CNBC today, Warren Buffett said there has been little progress over the past few months in the "economic war" being fought by the country. "We haven't got the economy moving yet," he told Becky Quick... Buffett says he's not concerned about deflation, but thinks inflation will be a problem in coming years...

While the economy is a "shambles" and likely to stay that way for some time, he remains optimistic there will eventually be a recovery over a period of years... Despite his negative view on the economy, Buffett still believes the stock market is attractive "over the next 10 years" when compared to alternatives like Treasury bonds.

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

CNBC: Warren Buffett to CNBC: U.S. Economy In "Shambles" .. No Signs of Recovery Yet