Warren Buffett, as always, is bullish on the future of America.
In an interview with Playbook published last week, Buffett once again reiterated his view that, “the luckiest person born in history is the baby being born in the United States today.”
But there’s one catch: weapons of mass destruction.
Buffett told Playbook that, “Aside from the problem of weapons of mass destruction … which unfortunately is going to be with us forever, aside from that, the luckiest person born in history is the baby being born in the United States today.”
So, you know, save for the whole, “humans have developed weapons that could wipe out all of humanity” thing, kids today should be fine.
In his latest letter to shareholders published back in February, Buffett wrote almost the exact same thing.
“It’s an election year, and candidates can’t stop speaking about our country’s problems (which, of course, only they can solve),” Buffett wrote in his letter to shareholders.
“As a result of this negative drumbeat, many Americans now believe that their children will not live as well as they themselves do. That view is dead wrong: The babies being born in America today are the luckiest crop in history.”
The basic argument here is that despite claims that an economy growing at 2% is a failure, Buffett says per capita GDP will grow over 34% in a generation due to the power of compounding.
Carry this over a lifetime and children born in the US today will likely enjoy a far more prosperous life than those that came before them.