Ah, gotta love Warren Buffett. Always the smartest guy in the room in my book. And the fact that he gave away almost his entire fortune last year to charity makes this guy, even though he's one of the richest people in history, a saint in my book.
Remember last year, when he and Charlie said there was a massive real estate bubble that would go bust? Yup.
Remember when he said he was hording cash so he could buy assets at distressed prices after the crash? Nice play.
Remember how he took his dollars and had it in foreign currency during the dollar downfall? Oh, man, nice work. He's also buying foreign companies and moving out of the US when he can.
And here's his comments yesterday on the unsustainable US debt and "soft landings", and how this will unfold.
You can learn a lot from Buffett. Imagine him and The Corrupt David Lereah in the same room.
"Americans will live better 10 or 20 years from now," Buffett wrote. "But our citizens will also be forced every year to ship a significant portion of their current production abroad merely to service the cost of our huge debtor position.
"At some point in the future U.S. workers and voters will find this annual 'tribute' so onerous that there will be a severe political backlash," he continued. "How that will play out in markets is impossible to predict -- but to expect a 'soft landing' seems like wishful thinking."
