Warren Buffett was interviewed on Dateline NBC last night and described the current state of the economy as an "economic Pearl Harbor" that is not as bad as the Great Depression or World War II, but still is very significant. The Oracle of Omaha said that fear is permeating the American psyche, "which leads to people not wanting to spend and not wanting to make investments, and that leads to more fear. We'll break out of it. It takes time." Buffett didn't wish to guess when the crisis would end, but he did leave with one piece of powerful advice: "It's never paid to bet against America…We come through things, but it's not always a smooth ride." San Diego real estateWarren Buffett was interviewed on Dateline NBC last night and described the current state of the economy as an "economic Pearl Harbor" that is not as bad as the Great Depression or World War II, but still is very significant. The Oracle of Omaha said that fear is permeating the American psyche, "which leads to people not wanting to spend and not wanting to make investments, and that leads to more fear. We'll break out of it. It takes time." Buffett didn't wish to guess when the crisis would end, but he did leave with one piece of powerful advice: "It's never paid to bet against America…We come through things, but it's not always a smooth ride." San Diego real estate3 thoughts on “It’s never paid to bet against America”
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In many ostensibly socialist countries, the benefits eventually wound up going mainly to the “right people”. There are winners and losers in any system. It’s not the system, it’s the people. They never change, and there will always be alphas around to boss and rip off the rest of us who have the nasty habit of minding our own business and being honest.
San Diego Real Estate Investments
Our economic condition was caused by lack of regulation, politicians, Greenspan, or any other government entity. It was caused by people taking out mortgages that they are not repaying. Derivatives were only risky investments if borrowers defaulted on their loans. Bank funds only dry up if people default on their loans. Look up and down your neighborhood streets to find the culprits responsible for the economic catastrophe.
San Diego Family Dentist
When a country can no longer produce wealth the aristocracy dreams up schemes to defraud the masses of their existing funds. It’s always been that way throughout history and the USA today is no different.
San Diego Eye Surgeon