Gary E. Miller

In this video, Warren Buffett and former Treasury Secretary Henry Paulson have an economic 'power lunch' chit-chat, live at the Chamber of Commerce annual meeting in Omaha. Recorded by CNBC.

So far, the stock market correction we have witnessed in the past month appears to be normal in scope. In contrast to the "sky is falling!" mentality that prevailed one year ago, signs that our banking system would survive began last spring an overly ebullient reaction by a significant number of investors. Now that Optimists must deal with evidence of a very slow recovery, and economic ignorance on the part of many politicos, a negative reaction has set in, with the flow of new money into equities more than offset by profit taking. It appears to me that the Recovery appears to be playing out along the lines suggested by most economists, including those in government: slow, with fits and starts. 

Washington Turns to the Dark Side
With economic recovery too slow to save Democrats running for re-election, a wholesale verbal and strategic assault on the pillars of a sound economy is underway. Despite this the stock market, a good predictor of the future, is holding up relatively well.