jreeves
Senior Member
- Feb 12, 2008
- 6,588
- 319
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Azerbaijan Business Center
Baku, Fineko/abc.az. Warren Buffett, legendary creator of Berkshire Hathaway Inc., expressed his anxiety over turning the USA into the banana republic and called upon the congress to restrict increase of deficit of the budget to gross domestic product (GDP) of the country.
W. Buffett called upon the US authorities to draw attention on side effects of monetary medicine, which on degree of influence do not cede the crisis.
Uncontrolled emission of carbon dioxide leads to melting ice and uncontrolled emission of dollar undermines purchasing ability of currency. The fate of dollar is in hands of the congress, W. Buffett said.
In his opinion, billionth money inflows held the largest economics in the world on the verge of disaster, but they could cause damage to it.
We have been doing this for a reason I resoundingly applaud.
Last fall, our financial system stood on the brink of a collapse. The Bush and Obama administrations did the best, although the errors turned out to be inevitable in so difficult situation. The fountain of federal money played the considerable role in the saving.
The United States economy is now 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, W. Buffett said.
This fiscal year, though, the deficit will rise to about 13 percent of G.D.P (approx.$1.8 trillion) .. Our countrys net debt increases by1% per month, reaching 56% grade from G.D.P. inflation will result in impoverishment of the US citizens, the dollar will keep on losing purchasing ability, W. Buffett said.
Hmmm....Obama you still want to spend a trillion dollars on government ran health care?
Baku, Fineko/abc.az. Warren Buffett, legendary creator of Berkshire Hathaway Inc., expressed his anxiety over turning the USA into the banana republic and called upon the congress to restrict increase of deficit of the budget to gross domestic product (GDP) of the country.
W. Buffett called upon the US authorities to draw attention on side effects of monetary medicine, which on degree of influence do not cede the crisis.
Uncontrolled emission of carbon dioxide leads to melting ice and uncontrolled emission of dollar undermines purchasing ability of currency. The fate of dollar is in hands of the congress, W. Buffett said.
In his opinion, billionth money inflows held the largest economics in the world on the verge of disaster, but they could cause damage to it.
We have been doing this for a reason I resoundingly applaud.
Last fall, our financial system stood on the brink of a collapse. The Bush and Obama administrations did the best, although the errors turned out to be inevitable in so difficult situation. The fountain of federal money played the considerable role in the saving.
The United States economy is now 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, W. Buffett said.
This fiscal year, though, the deficit will rise to about 13 percent of G.D.P (approx.$1.8 trillion) .. Our countrys net debt increases by1% per month, reaching 56% grade from G.D.P. inflation will result in impoverishment of the US citizens, the dollar will keep on losing purchasing ability, W. Buffett said.
Hmmm....Obama you still want to spend a trillion dollars on government ran health care?
