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Buffett backs American economy, but is he eternally infallible?

“I don’t see how anybody can be other than enthused about this country,” Buffett told Berkshire shareholders last Saturday.
We wonder…
According to City Group Chief Economist Willem Buiter, the next 4 decades belong to Africa, Mongolia and a few other resource rich territories.
America is trading more and more on “brand reputation” than on solid growth and assets.
Which is perhaps why Buffett’s enthusiasm wanes in conversation about the dollar, which he said is sure to weaken over time, like most other currencies.

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