The Uncertain Future of the American Economy

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No one knows how or when the economy will recover from the coronavirus outbreak shutdown, but one top investor remains optimistic in the long-term future of the United States.

Billionaire investor Warren Buffet said he doesn’t expect major banks to have significant financial problems during the virus crisis because they are in much better shape than they were during the financial crisis of 2008.

“We do not know exactly what happens when you voluntarily shut down a substantial portion of your society,” Buffett said because it has never been done. He said it may take several years to understand all the economic implications of the coronavirus outbreak, but it hasn’t changed his long-term view because the country has endured wars and depressions before.

When in doubt remind yourself how our country and economy has always bounced back from any major catastrophe, locally or globally.

“In the end, the answer is never bet against America,” Buffett said.

“In the end, the answer is never bet against America.” — Warren Buffett

Berkshire Hathaway, Inc. owns more than 90 companies, including the railroad and insurance, utility, furniture and jewelry businesses. The company also has major investments in such companies as Apple, American Express, Coca-Cola and Bank of America.

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