Warren Buffett: Flaw Of Eurozone And Building A Tomb For Him14 November, 2011, 23:45. Posted by Zarathustra
Tags: Warren Buffett
Warren Buffett was on CNBC discussing whole range issues.
It started off with the Eurozone, saying that the Europeans have discovered a fundamental flaw of the Eurozone in that they can’t print money. Currently there is a run on Europe, both banks and sovereigns, similar to the situation in 2008 when there was a run on the United States. While the US had the authorities (referring to Paulson, Bernanke and the President) that would do whatever it took to deal with the crisis in 2008, he wasn’t sure about whether the authorities in Europe have the ability and will to do whatever it takes. He is not interested in investing in European banks or sovereign, apparently.
He also discussed many other things, including the US housing market and creating jobs in the United States, as he joked, “If you build a tomb for me… employing 20,000 people… that create jobs.”
You can watch the interview below: