Warren Buffett Criticizes US Government's Handling of Banking Crisis and Foresees End of 'Incredible Period'.

Warren Buffett has warned that the "incredible period" for the US economy is coming to an end, and expects most of Berkshire Hathaway's business segments to report lower earnings this year compared to last. S&P 500 earnings have been in decline over the past year, and small cap earnings are declining faster than large cap, which tends to lead. The Federal Reserve is tightening monetary policy to control inflation resulting from stimulus payments, and many recession indicators continue to signal a recession is likely. Buffett's comments suggest a new period of prosperity will begin, but not right now.