“The United States economy is now out of the emergency room and appears to be on a slow path to recovery.”
–Warren Buffett, today in a New York Times op-ed. The Berkshire Hathaway CEO writes that while mistakes were made in the recovery effort, a “gusher of federal money” prevented a meltdown. He goes on to caution that “enormous dosages of monetary medicine continue to be administered and, before long, we will need to deal with their side effects.” If we don’t, the Oracle of Omaha warns us (and Congress): “Unchecked greenback emissions will certainly cause the purchasing power of currency to melt.” –Jessica Shambora