Warren Buffet’s Prophecy (Global Recession of 2008) Spenders vs Thrifts
After creating my Dark Stained White Exhibit in SM, I have 4 Artworks that related to finances or showed the power of money or greed in our life. The four are: The Fall of Mammon I, The Fall of Mammon II, China on the Gates II and the Economic Rumble.
This financial or monetary position affects a lot of us. It can be applied to individuals, or like the Economic Rumble, be applied to Nations. I am reminded of the United States‘ and Europe’s (Actually Greece, Spain and Ireland) Financial position during the 2008 Global Financial Crisis.
Before the World fell into Economic Crisis, the Oracle from Omaha – Warren Buffet of Berkshire Hathaway gave an interesting article that you may want to read.
The following is an excerpt from Warren E. Buffet’s Article published on the 2003 Issue of Fortune Magazine. I have modified some of the parallelisms for clearer understanding to Filipino Readers. -Archian
Spender City vs Thrift City
“America’s growing trade deficit is selling the nation out from under them. Here’s a way to fix the problem—and we need to do it now. I’m about to deliver a warning regarding the U.S. trade deficit. 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 (Warren Buffet) am crying wolf again and this time backing it with Berkshire Hathaway‘s money. Through the spring of 2002, I had Continue reading