Buffett parroting Trump here...
Highlight: “If you print bonds in your own currency, what happens to the currency will be the question.” Buffett says. “But you don’t default. The U.S. … has been smart… to issue its debt in its own currency.” #YFBuffett pic.twitter.com/7iy6pUkPQZ
— Yahoo Finance (@YahooFinance) May 3, 2020
Matt, what are you getting at when you say that Buffett is parroting Trump?
ReplyDeleteI mean, why would a smart, successful investor like Buffett ever in a million years ever consider parroting a grifter/conman like Trump?
Also, Trump is a buffoon regarding how a modern economy works. For instance, and there are many such instances, when asked a couple of years ago whether he was worried that his policies were drastically increasing America's national debt and thus causing future problems, he replied that he won't be around as president to worry about it.
Donald J. Trump @realDonaldTrump (Nov 13, 2012)
Our $17T national debt and $1T yearly budget deficits are a national security risk of the highest order.
Donald J. Trump @realDonaldTrump (Jun 23, 2019)
When our Country had no debt and built everything from Highways to the Military with CASH, we had a big system of Tariffs. Now we allow other countries to steal our wealth, treasure, and jobs - But no more! The USA is doing great, with unlimited upside into the future!S
"Sure," Matt, Buffett is parroting Trump... [SMH]
I dont necessarily disagree with anything he is saying here...
ReplyDeleteForeign USD savers are paid a lot of interest and they can use those USD balances they save and earn interest on to work against our national interests...
Prior to this whole virus thing, the US deficit was largely the record of foreign savings of USDs... there was some domestic USD savings...
He understands what is going on...
He was just interviewed by Dan Bongino on Friday...
ReplyDeleteBongino is a big libertarian..he has guns (metal) on there , etc...
So Bongino was giving him some shit about all the "debt!" and Trump very quickly changed the subject..
Trump is taking a lot of shit from the libertarian right flank on "the deficit!"...
Doesnt have any help dealing with it.... all of his economic advisers are Art Degree morons....
"I dont necessarily disagree with anything he is saying here..."
ReplyDeleteNeither do I.
I recall in one tv interview, think it was last year, where Buffet was asked whether America should import its energy needs or if, instead, it should become energy independent and use its own energy resources. Buffet replied (very loosely paraphrasing here), screw that shit, bro, let's use up their limited resources and save ours for when theirs run out!
F-ckin' brilliant!
Donald "Default" Trump may disagree.
ReplyDelete