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Claim and -- spoken to Warren Buffett about this tonight.
-- are you there and what have you heard.
I'm right here Gerry -- just cut off the ball was Warren Buffett it's important to hear his opinion which is actually -- -- come very opposite of the opinion that you heard tonight.
-- he's got skin in the game they have 47.
Billion in cash and cash equipped wanted Berkshire Hathaway his company.
And He told me tonight we have well over forty billion in T bills and what happened tonight doesn't have to -- to sell at all Jerry He is telling Fox Business Network tonight.
I don't get it it doesn't make sense what S&P did in all my hot but that the quote the US is still triple A rated.
Course some -- where Berkshire Hathaway is is based and then He said if there were court AAA rating -- I'd give it to the US bank.
She is very very much of the belief.
That this is not something that the US -- conduct that's what that that that the US deserve this He said absolutely not He said look.
It in -- what you have is the fact that the United States.
Take his knowledge has -- no money in currency other than the US dollar which.
The United States treasury compressed -- that if you were talking about inflation outlook that the different question he's He has been stating that He worried about inflation.
But He really doesn't feel.
But this downgrade was where the at all and we even took a little bit of a flight but SMP when I when a civil what it what -- bank and He said.
Remember this is the same group the downgraded Berkshire Hathaway.
So according he's sponsors -- rating 'cause I don't within -- year in the past year and He was He did not sound worried at all provide.
Jerry He doesn't expect contrary to what the Charlie Gasparino said.
-- and expect -- to make a huge amount of difference with the markets once they.
The world -- that is over the weekend in essence He said it all think that nothing else takes place.
Meaning if all other variable whole.
And we don't have some type of new implosion in Europe.
He she said quote it won't make any difference but more about the kind of Fox Business Network tonight it doesn't make -- what is.
This and I laid -- regarding -- let me ask you this I don't know if He had a chance to ask more about -- this.
I would yes that there will be people out there who follow Buffett's example -- -- of its reputation because of how well -- is.
Because of how well he's done in the markets over the years -- might be a lot of people who say.
Warren Buffett probably has a right I'm gonna hold on to my treasuries to I'm not selling.
You're absolutely right -- anybody who was followed what He does for example several years ago He went into railroad.
People followed the railroad industry has skyrocketed -- done very well listen he's he's.
But the -- the known as wanna be if not the greatest investor part time.
And and you didn't get hurt following some of the buys that he's actually made so.
You're on the money about that the interesting aspect of of of what Warren Buffett says is that what was that.
It that this just.
It -- short of calling it kind of ridiculous He didn't say that word.
But also she doesn't help people He doesn't telegraphed what he's going to buy in the death of what He buys.
But knowing the -- that He has made I would look at this as safe -- for probably starting a couple of days ago He may have been a buyer because.
She bought slightly below the conflict before the market dropped at the bottom but -- -- He doesn't care payment is deprived a month or two or a couple weeks.
-- started buying.
Even remember she had written that article in the New York Times that the headline earnings by American I am meeting.
You don't believe in America believe and in its stock.
Doesn't -- buy American products and anti American companies people lever that but you're right I.
Liz and I want it I -- it get as squeeze in meals question here is a question Puerto.
-- -- -- -- -- I don't know if you can hear me it's interesting Buffett's point of view because there's another point of view that.
Why did this take so long and I conceived of as a we've always faithfully as a country and dutifully paid our bills.
But our financial pictures gotten sloppy.
And and it.
There is a separate -- out there that we haven't deserve the AAA rating we've enjoyed.
For so long because our mess.
Under Republican democratic presidents and -- -- Has -- compacted and compounded so we have been sitting on this debt to GDP.
These obscene highs a 100% almost double of GDP it.
And just stumbling along one near government shut down after another.
One budget on the brink after another.
So there is an argument out there is they're not I know that mr.
Buffett's views notwithstanding.
And I know we do obviously from what you're telling us -- disagrees of that.
Where -- Look I mean this age might feel otherwise.
But we don't deserve this as a country we don't the way we handle our budgets we don't.
The way we kick the can on this budget we don't the way we went better than 800 days without a budget we don't.
We don't deserve a triple A rating.
-- -- deals we absolutely do she feels that there's nothing better going on -- -- the world on the planet now he's also been in the same man.
That's -- -- I see that's different and that's a good news that's a very profound point humans.
That there's nothing better in the black and that might very well be the case certainly nothing it's deeper or liquid.
But let's also remember doing it and united make the point and then Jerry to that that Australia Japan and Canada have been downgraded from -- in the past and then gotten it back -- what they got some fiscal housing aspects in order like most balance sheet and most normal people in their houses that.
Figured out how live over leveraged I've got to cut back -- got to pay off the debt but remember it was just over the last half the year that Warren Buffett also said.
We have got to.
A problem at this point so you're not you're not on the wrong track you're absolutely sure in his -- feels that too but as for a simple.
-- -- -- He feels it absolutely it was doesn't make sense quote of Fox Business Network I don't get it if I had a -- quadruple AI.
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