“Billionaire investment guru Warren Buffett issues stark inflation warning: ‘Fiscal deficits have consequences’ – after rate rose to 5.4% and Wall Street saw its worst week of 2023”
February 27, 2023
“Billionaire investor Warren Buffett sent out a clear warning to his shareholders as the Fed‘s inflation measure jumped to 5.4 percent over the last month. In his much acclaimed annual letter to Berkshire Hathaway shareholders, Buffett, 92, warned that ‘huge and entrenched fiscal deficits have consequences.’…
But despite the warning, Buffet, who’s net worth is estimated at around $106 billion, said he’s confident the US economy will rebound.
‘I have been investing for 80 years – more than one-third of our country’s lifetime,’ he wrote. ‘Despite our citizens’ penchant – almost enthusiasm – for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America.’…”
Mr. Buffett is also sitting on a huge pile of cash. It’s obvious he’s going on a shopping spree after the market corrects. Many in the financial sector still expect stocks to drop anywhere from 20 to 50 percent.