The “incredible period” for the US economy is winding down and finally coming to an end, according to Warren Buffett.
At Berkshire Hathaway’s annual meeting, Buffet said, “the majority of our businesses will report lower earnings this year than last year.”
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Rising inflation and soaring interest rates, along with the closures of three massive banks in one month, gives investors reason to worry.
While Buffett’s firm grew by two billion last year, he is expecting his usual upward trend to reverse.
And a Bloomberg survey of economists say the USA has a 65% chance of dropping into a recession this year.
Other nations are doing well, like India for example, which may signal to investors that it’s wiser to invest overseas then at home. Of course, that signals further strain on the US economy as it would lack the investment it needs.
Buffett says treasury bills are the way to go, but are they? Bitcoin may be more of a solid investment as their system is incorruptible. Treasury bills are subject to the whim of the government and their rules placed on them.
Hard to know which way to turn, but things are most certainly taking a turn for the worse.
Bitcoin incorruptible? just like sam bankman fried the incorruptible bankster. When the govt’ digital currencies roll out Bitcoin is toast! Govt’s don’t like competition.