August 19, 2009

Warren Buffett On The Deficit

Interesting Op-Ed piece by Warren Buffett sounding the alarm against the US deficit and its potential catastrophic effects. He makes a parallel with the effects of global warming:

"Unchecked carbon emissions will likely cause icebergs to melt. Unchecked greenback emissions will certainly cause the purchasing power of currency to melt."

He's apparently not the only smart investor to predict a less-than-favorable future for the US dollar as this Bloomberg piece summing up the general view at Pimco shows.

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