Buffett: U.S. Could Become Banana Republic

Warren Buffett says the growing mountain of U.S. debt could turn the country into a banana republic.

“Unchecked carbon emissions will likely cause icebergs to melt,” Buffett writes in The New York Times.

“Unchecked greenback emissions will certainly cause the purchasing power of currency to melt.”

The U.S. economy appears to be on a slow path to recovery, Buffett notes, but “enormous dosages of monetary medicine continue to be administered,” creating an annual deficit more than twice any since 1920 aside from war-impacted years of 1942-1946. (more)