02-05-2009, 08:41 AM
This article is linked inside the one I posted. You need to read this one first:
http://money.cnn.com/magazines/fortune/f...10/314691/
Edit: Great example Buffet uses in this article:
I was going to try to sum it up, but I couldn't. I know this is a long article, but I think it will answer your first question.
As far as GNP dropping, the answer is that you need to accept the premise that our country will continue as an economic power house. In other words, Breadan and Schiff would probably not accept this argument whereas Buffet and people like me would continue to say that it hasn't been profitable to bet against America for the past 200 years and the conditions that make America a great country for business growth are still here and are still going strong.
http://money.cnn.com/magazines/fortune/f...10/314691/
Edit: Great example Buffet uses in this article:
Quote:Dow Jones Industrial Average
• Dec. 31, 1964: 874.12
• Dec. 31, 1981: 875.00
I was going to try to sum it up, but I couldn't. I know this is a long article, but I think it will answer your first question.
As far as GNP dropping, the answer is that you need to accept the premise that our country will continue as an economic power house. In other words, Breadan and Schiff would probably not accept this argument whereas Buffet and people like me would continue to say that it hasn't been profitable to bet against America for the past 200 years and the conditions that make America a great country for business growth are still here and are still going strong.
"Hamilton is really a Colossus to the anti republican party. Without numbers he is an host within himself. They have got themselves into a defile where they might be finished but too much security on the republican part will give time to his talents and indefatigableness to extricate them. We have had only middling performances to oppose to him. In truth when he comes forward there is nobody but yourself who can meet him. His adversaries having begun the attack he has the advantage of answering them and remains unanswered himself. For God's sake take up your pen and give a fundamental reply to Curtius and Camillas" - Thomas Jefferson to James Madison