20 January 2005
We live in an era of great uncertainty. The risks are higher than ever before. Risks are about probabilities. We’ve dealt with those throughout history. What makes this era so different is the set of events which – given the right set of circumstances – could happen which have never happened before.
This country sits on a record level of debt as do its citizens. Long standing industries have now moved to other nations. Rates of personal bankruptcy set new records each year. Our trade and budget deficits soar. Our currency is shrinking in value.
Today, warnings he has given before were the topic of an interview with Warren Buffett. If you have not done some serious reading and study in this area, I’d encourage you to understand what he said today and where the mindset that influences is remarks began.
Filed under: Investing