Skip to comments.Warren Buffett Should Take Ownership of The "Banana" Republic
Posted on 08/21/2009 9:02:39 PM PDT by Shellybenoit
In a NY Times Op Ed this week, the financial guru of gurus, Warren Buffett warned of the dangers of the Federal Deficit:
The United States economy is now out of the emergency room and appears to be on a slow path to recovery. But enormous dosages of monetary medicine continue to be administered and, before long, we will need to deal with their side effects. For now, most of those effects are invisible and could indeed remain latent for a long time. Still, their threat may be as ominous as that posed by the financial crisis itself.
...no one can know the precise level of net debt to G.D.P. at which the United States will lose its reputation for financial integrity. But a few more years like this one and we will find out. ...it was a wise man who said, All I want to know is where Im going to die so Ill never go there. We dont want our country to evolve into the banana-republic economy described by Keynes.
Well that makes sense, many of us have been warning about the size of the deficit for months. Of course it is a bit disingenuous since it was Barack Obama who put us into this deficit situation, and he is trying to increase the deficit even further. One of the key endorsements that Obama received early in his candidacy was from Warren Buffett. It was Buffett that gave Obama his economics "street cred." In other words if we do turn into a "Banana Republic," it is Buffett that grew the banana tree:
(Excerpt) Read more at yidwithlid.blogspot.com ...
I don’t think little Georgie Soros would sell it.
We will turn into a banana republic if we allow the ‘rats to continue to “monkey” with the economy.
He's just another San Francisco liberal moral relativist, and thus his opinions are worth a fraction of what they once were.
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