Billionaire investor Warren Buffett is appearing on CNBC’s Squawk Box.
CNBC’s Becky Quick asked about the current budget fiasco we are all witnessing in the Washington.
Buffett characterised it as “idiocy.”
“You don’t use poisoned gas and say “people won’t die until next Saturday,”” he said.
In terms of a potential default and the prospect of the U.S. dollar losing its status as the global reserve currency, Buffett warned that it would produce chaos over time.
“If this goes past tomorrow, we will definitely see something,” he added.