Warren Buffett had a great quote (granted he's probably said something like this before) during the panel discussion that's shown after I.O.U.S.A.
"I like to invest in wonderful companies that an idiot could run because sooner or later one will"
(The audience laughs)
"In fact you could say that this country is like that too"
To put the quote in context he was being asked about the future of the American economy, and after the zingers above he discussed how he felt the American economy could continue to significantly "grow the pie" so to speak, thus giving us the financial resources to service our debt and fund our various liabilities. Mind you he wasn't saying we don't have to worry about the economy or the debt problem, more like if we take the proper steps to control our debt moving forward our economic growth should allow us to get things under control.
Of course the key here is: will we take the proper steps before it's too late?
updated Aug 23, 2008
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