Posted on 02/27/2016 1:19:00 PM PST by Hojczyk
Warren Buffett bemoaned the negative drumbeat on the U.S. economy from presidential candidates in his annual Berkshire Hathaway Inc shareholder letter on Saturday, saying they are misleading Americans into believing their children will be worse off than they are.
Its an election year, and candidates cant stop speaking about our countrys problems (which, of course, only they can solve), Buffett wrote, italicizing they for emphasis.
As a result of their dour outlook on the U.S. economy, many Americans now believe that their children will not live as prosperously as they themselves do, the 85-year-old Buffett said.
That view is dead wrong: The babies being born in America today are the luckiest crop in history, Buffett said.
Buffett did not single out any presidential candidates by name. The billionaire in December officially threw his backing behind Hillary Clinton, a Democrat.
(Excerpt) Read more at oann.com ...
Even worse, he ignores two facts: 1) Young people today DO have a lower standard of living than their parents, and 2) most children born today are not “American” (as far as I can see).
Workforce participation rates are at levels of the 1970s, and young adults are participating at disappointing low levels compared to history. 5% unemployment masks the 15% who are on early retirement, never found a job after college, dropped out of the workforce after not finding a job for years or managed to get SSDI for depression for not finding a job in two years.
No, the economy is not fine.
An economy coming home to roost. Doing a favor for his buddy at 1600 Penn? Keep the juggling act going until after November, so any bad news sticks elsewhere? Can’t liquidate some current holdings immediately and wants more time to get clear?
Hillary has been talking down the economy. So why does he endorse Hillary??
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