On Thu, Aug 12, 2004 at 05:45:45AM -0400, Erik Reuter wrote: > I'll look for it tonight.
http://www.pbs.org/wsw/news/fortunearticle_20031026_03.html Why I'm not buying the U.S. dollar America's growing trade deficit is selling the nation out from under us. Here's a way to fix the problem -- and we need to do it now. By Warren E. Buffett, FORTUNE Oct. 26, 2003 I'm about to deliver a warning regarding the U.S. trade deficit and also suggest a remedy for the problem. But first I need to mention two reasons you might want to be skeptical about what I say. To begin, my forecasting record with respect to macroeconomics is far from inspiring. For example, over the past two decades I was excessively fearful of inflation. More to the point at hand, I started way back in 1987 to publicly worry about our mounting trade deficits -- and, as you know, we've not only survived but also thrived. So on the trade front, score at least one "wolf" for me. Nevertheless, I am crying wolf again and this time backing it with Berkshire Hathaway's money. Through the spring of 2002, I had lived nearly 72 years without purchasing a foreign currency. Since then Berkshire has made significant investments in -- and today holds -- several currencies. I won't give you particulars; in fact, it is largely irrelevant which currencies they are. What does matter is the underlying point: To hold other currencies is to believe that the dollar will decline. [Article continues, see link] http://www.pbs.org/wsw/news/fortunearticle_20031026_03.html _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l
