Warren Buffett Quotes on Economy. Why Warren Buffett remains optimistic about the American economy.
Burlington Northern Santa Fe
With the US debt downgrade, unresolved subprime mortgage crisis, high unemployment and
host of other problems in the American economy, it is easy to be bleak about the future of the American economy. However, Warren Buffett remains upbeat and continued to bet heavily on the American economy. In 2009, Berkshire Hathaway acquired national railroad company Burlington Northern Santa Fe – this was an enormous bet on America, as the success of the railroad industry was closely tied to domestic production and the success of the American economy. What is the source of this optimism?
Born on August 30 1930, Warren Buffett has always talked about how grateful he is to be born in America. Once, Buffett commented that if someone had crawled into his womb and told him what the world was like then, he might not have come out. However, as he notes, the average standard of living has increased 6
for 1 since 1930.
The American Spirit
He remains very optimistic on America because he believes we have a system that works magnificently. Although the American economy has always had troubles and crises of various proportions, the country has always been able to overcome them and come out very far ahead.
One story I remember him telling in one of the shareholder’s meetings was that when he got out of school in 1951, someone he very much admired told him that he had a good
future, but not to start in stocks then because the Dow will never go above 200. But look at how far we have come since.
Thus, although the current situation may seem bleak, Warren Buffett continues to have faith in the American economy. Here is another quote by Warren Buffett on the economy: in the next 100 years, we will have 15-20 lousy years but will eventually be much much further ahead.