On CNBC, Warren Buffett is discussing his op-ed in the NYT, the bailout, and the state of current economic policy.
On QE2 he says, yes, there is a danger if it creates psychological fears about the future of money.
And as for fiscal stimulus, he’s not concerned about imminent austerity under the GOP Congress. The spending cuts have to be done — we need to get debt-to-GDP to around 3% soon.
But he’s optimistic generally. Policymakers will get it right, and the economy will be FAR ahead of where it is now in 45 years.
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