Buffett Warns of Need to Control Greenback Gusher

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Warren Buffett writes in today's New York Times that we must not only be concerned with greenhouse emmissions, but with "greenback emmissions" as well.  While Buffet applauds federal fiscal policymakers for pumping money into the economy last year--it played "an essential role in the rescue," he writes--now that recovery has begun, he warns that too much "monetary medicine," could pose a threat that "may be as ominous as that posed by the financial crisis itself":

Unchecked carbon emissions will likely cause icebergs to melt. Unchecked greenback emissions will certainly cause the purchasing power of currency to melt. The dollar’s destiny lies with Congress.

Read The Greenback Effect here.  


Posted 08-19-2009 8:51 AM by Graham Griffith
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