While Buffett has suffered just like any other investor during the current bear market, it is still important to listen to what he is saying.
Billionaire investment guru Warren Buffett has underscored dire times ahead for the United States, declaring the world’s biggest economy has “fallen off a cliff”.
While praising repeated efforts by the US Federal Reserve to stimulate the economy, Mr Buffett said the economy “can’t turn around on a dime” and that the combined stimulus efforts could trigger higher inflation once demand returns.
“We are certainly doing things that could lead to a lot of inflation… in economics there is no free lunch,” Mr Buffett said.
No one is right or wrong all of the the time but Buffett’s experience and exposure to economic data demands we listen. If we believe what he says is another story. While we are facing the largest period of deflation in recent history, I believe inflation will come back with a vengeance.
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