>But he also sent a cautionary message to Washington, lamenting how capitalism “has its faults and abuses–in certain respects more egregious now than ever,” with malfeasance by “scoundrels and promoters” in full force.
>He urged lawmakers to help preserve a stable U.S. dollar, saying “fiscal folly” can destroy the value of paper money and the country has at times “come close to the edge.
>”Buffett said long-term success of Berkshire and the American economy, which he called the “American miracle,” has depended on people’s ability to participate.
>That, he said, is something Uncle Sam can encourage, or take away.
>”Take care of the many who, for no fault of their own, get the short straws in life. They deserve better,” Buffett wrote, addressing the government.”
>And never forget that we need you to maintain a stable currency and that result requires both wisdom and vigilance on your part,” he added.
>Cathy Seifert, an analyst at CFRA Research who rates Berkshire “hold,” said: “Talking about the business of America being messy was his way of addressing the political landscape and its impact on the macroeconomic environment. He is warning Washington: Be careful where you tread.”
1 Comment
His warning:
>But he also sent a cautionary message to Washington, lamenting how capitalism “has its faults and abuses–in certain respects more egregious now than ever,” with malfeasance by “scoundrels and promoters” in full force.
>He urged lawmakers to help preserve a stable U.S. dollar, saying “fiscal folly” can destroy the value of paper money and the country has at times “come close to the edge.
>”Buffett said long-term success of Berkshire and the American economy, which he called the “American miracle,” has depended on people’s ability to participate.
>That, he said, is something Uncle Sam can encourage, or take away.
>”Take care of the many who, for no fault of their own, get the short straws in life. They deserve better,” Buffett wrote, addressing the government.”
>And never forget that we need you to maintain a stable currency and that result requires both wisdom and vigilance on your part,” he added.
>Cathy Seifert, an analyst at CFRA Research who rates Berkshire “hold,” said: “Talking about the business of America being messy was his way of addressing the political landscape and its impact on the macroeconomic environment. He is warning Washington: Be careful where you tread.”