This is one of the problems of being fresh out of college. You not only know all of these models for things -- you actually believe in them -- like they're some sort of independent thing that has worth beyond its use as a glorified guesstimation metric. I don't mean that in a patronizing way -- I was exactly the same.

Buffet's kind of a champion of what you might call really-existing markets. I don't think he sees the US economy as a grand experiment where "health" exists independent of the people that are its constituents. A market is better where, as he says in the interview, 3 million extra people don't lose their jobs.