>Buffett: Bank woes are poetic justice

>Buffett: Bank woes are poetic justice | Reuters

A few quotes from Warren Buffet on the current state of things!

“It’s sort of a little poetic justice, in that the people that brewed this toxic Kool-Aid found themselves drinking a lot of it in the end,”

“I wouldn’t quite call it a credit crunch. Funds are available,” Buffett said during a question and answer session at a business event. “Money is available, and it’s really quite cheap because of the lowering of rates that has taken place.”

He added: “What has happened is a repricing of risk and an unavailability of what I might call ‘dumb money,’ of which there was plenty around a year ago.”

But he warned that the U.S. dollar will continue to slide unless the country can rein in its yawning trade deficit — the “biggest factor” behind the decline. Still, he said, the U.S. economy will “do very well over time.”

Interesting stuff!

Scott Dauenhauer, CFP, MSFP, AIF
President
949-916-6238
www.meridianwealth.com

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