Read this comment from Warren Buffett about the S&P downgrade. There is no question in his mind that the U.S. debts are money good because the U.S can print money. He goes on to say that inflation is an entirely different matter. People that understand Buffett’s thinking, know that he believes stocks are the ultimate protection from the ravages of inflation on purchasing power. You can be sure that Buffett will be buying, selectively of course, if the market plunges on Monday.
Buffett would rate U.S. ‘quadruple-A’
Published: Aug. 6, 2011 at 9:20 AM
Warren Buffett, Chairman & CEO of Berkshire Hathaway, attends the 2010 Fortune Most Powerful Women Summit, on Tuesday, October 5, 2010, in Washington, DC. UPI/Leslie E. Kossoff/Pool
OMAHA, Aug. 6 (UPI) — Standard and Poor’s downgrade of the United States’ triple-A credit rating makes no sense, said billionaire Warren Buffett.
“I don’t get it,” Buffett told Fox Business late Friday night. “It doesn’t make sense.”
Buffett, chairman and chief executive officer of Berkshire Hathaway, a conglomerate holding company based in Omaha, said, “In Omaha, the U.S. is still triple A. In fact, if there were a quadruple-A rating, I’d give the U.S. that.”
[…] far from certain whether they get credit for boldness or blame for a bad, misleading call. Warren Buffett has already declared it misguided. It was quite audacious in that it purported to pick winners and losers by not downgrading all of […]