Do You Agree With Warren Buffet?

Every day in the news there is something said about the health of the economy.  There are loads of pieces to the puzzle, and everyone is trying to pitch their spin on the events.  There are so many facets to the economy...real estate, stocks, bonds, housing, oil, gold, international markets, manufacturing, transportation, factory orders, trade, commodities, financials, consumer confidence, and so much more.  The problem is that there is never anyone that has the vision to look at the big picture and call the shots.  However, this  week Warren Buffet who is a multi-billionaire and has his hand in just about everything made a statement that for the most part went unnoticed.  When interviewed by Der Spiegel Warren Buffet shared his views is the US is already in recession, and unlike others he feels this is going to be a long deep recession.  However he also mentioned that he was still investing, and still buying!  To me that makes sense.  There are more millionaires made in a declining market than those that have lost their status.  Baron Phillipe Rothschild once was quoted when he urged others to buy was "when there is blood in the streets."  Sometimes...when we are at a time when there are no other buyers going in, it makes sense to do so.  One should sell when the market is at its peak of euphoria and buy again at the lowest ebb of pessimism.  What are your thoughts?