Warren Buffett Strikes Again

Warren Buffett has actually stated (again!) that the US economy is back on track and there will be no 'double-dip' recession. During the Montana Economic Development Summit he said his company (Berkshire Hathaway) is again hiring workers in anticipation of a quick economic recovery. I just wanted to point this out because this man is being treated by many as a economics prophet. I cannot doubt his investment talent, but also I can see how he would stand to gain by propagating these plainly false ideas (there is zero economic recovery). For one, he invests in a large amount of businesses in the US (including - smartest investment ever of course - Goldman Sachs). It would be in his best interest if people believed there was a recovery instead of believing what is in front of their very own eyes. Mr.Buffett's empire depends on the status-quo of US borrowing/Chinese lending to continue. This status-quo is also the only thing keeping the US Dollar 'alive'. In a fully free economy, ceteris paribus, the dollar would fail tomorrow. However we do not have a free market and Mr.Buffett knows this fully well. Strangely enough even Mr.Obama doesn't agree and is planning another huge stimulus package which will bring the economy into an even deeper depression. A part of me wants to say that maybe Mr.Buffett knows this and is trying to prevent another stimulus...
What worries me is that someday China might decide it is no longer advantageous to keep the USA afloat. We don't need to live under the illusion that our fate is in our own hands anymore - it's in China's hands. Why? Because we have sold it to them!

As Peter Schiff said: "While we’ve been buying time, things have gone from bad to worse. We have debased our currency so much it is already beyond control. We just haven’t felt the full impact yet because we have had massive artificial support from abroad." It is percisely that artificial support from abroad that might run out at any time. Americans are exploiting the Chinese, why should they expect the Chinese to put up with it over time? They might as well consume all the goods the produce themselves instead of shipping them off to America...