Warren Buffett on the economy

Warren Buffett’s discussion at a recent Berkshire Hathaway meeting made its way into an article for Fortune. I think it’s a pretty good read to get a feel of what the wealthiest man in the country thinks about the current economic state, the measures that have been taken, and what lies in store. It appears that the next thing Americans should worry about is inflation. Since taxes haven’t been raised, the value of the dollar is going to decrease. I’m no economics major, so I don’t know if this is a direct cause and effect, but Buffett makes it seem like it. If it is true then it appears that we we’re fucked either way. Me, I woulda went with higher taxes than inflation and deal with the fact it’s just gonna cost more to buy anything. At least with increased taxes, prices woulda stayed the same but I would have less money to spend. I can budget that shit tho and cut out things I don’t need. When inflation occurs, even the things you do need have been jacked up in price. Another thing he mentioned is that he thinks the government did a good job with the bailouts and the way the crisis was adverted. Now, I don’t know if he had anythin to gain directly (like if any of his holdings received funds from the bailout) but if the world’s wealthiest man says a meltdown was about to occur, I believe it. I was pretty sure myself that our economy was in pretty bad shape and that the AUTO (not so much the banks) bailout was needed. Too bad it looks like it didn’t really save Chrysler from goin under (in a sense).