There is a heavily promoted video doing the rounds at the moment. To the best of my knowledge it's advertised on the US airwaves and even on some of the cable networks.
It's called EndofAmerica3 and has been put together by Porter Stansberry, of Stansberry & Associates Investment Research.
If you haven't got time to watch the video, just close the page and a pop up will say "Leave" or "Stay". Select "Stay" and you will get a written transcript of the video content instead.
The reason I am mentioning this is that a) I think it's interesting to see whether we really should be incredibly worried about the world economy or not and b) I read the following excerpt from Warren Buffetts' latest letter to Berkshire Hathaway shareholders the other day and it seems that the "Oracle of Omaha" is not buying the doom and gloom at all!
“Money will always flow toward opportunity, and there is an abundance of that in America. Commentators today often talk of “great uncertainty.” But think back, for example, to December 6, 1941, October 18, 1987 and September 10, 2001. No matter how serene today may be, tomorrow is always uncertain.
Don’t let that reality spook you. Throughout my lifetime, politicians and pundits have constantly moaned about terrifying problems facing America. Yet our citizens now live an astonishing six times better than when I was born.
The prophets of doom have overlooked the all-important factor that is certain: Human potential is far from exhausted, and the American system for unleashing that potential – a system that has worked wonders for over two centuries despite frequent interruptions for recessions and even a Civil War – remains alive and effective.
We are not natively smarter than we were when our country was founded nor do we work harder. But look around you and see a world beyond the dreams of any colonial citizen. Now, as in 1776, 1861, 1932 and 1941, America’s best days lie ahead.”
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