“I don’t get it. In Omaha, the U.S. is still triple A. In fact, if there were a quadruple-A rating, I’d give the U.S. that.”
Berkshire’s exposure to treasuries is significant, but he says he doesn’t plan to sell. Buffett sounded no alarm bells about the downgrade, going so far as to say it wouldn’t have much effect on the markets Monday.
“If nothing else takes place, meaning, if all other variables hold and there isn’t say, a new problem in Europe, it won’t make any difference.”
“Think about it. The U.S., to my knowledge owes no money in currency other than the U.S. dollar, which it can print at will. Now if you’re talking about inflation, that’s a different question.”
Berkshire lost its triple A status during the financial crisis. Now only Microsoft, Exxon, Johnson & Johnson and Automatic Data Processing carry the top rating.
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