I found this video today and strongly recommend you sit through it. At 55 minutes it is long but I was so impressed with the common sense that Warren Buffett displays on this issue.

Like most of us, I have listened to many different opinions on the topic and in this interview Warren made more sense than anyone else I've heard discuss the crisis.

As expected from a professional investor of his stature he is not in a state of panic or even worry over the state of the economy even though he has never seen things this "bad" in his lifetime. Instead he is busy acquiring bargain investments in readiness for the next phase of growth. He continues to operate on the basis of:

"You want to be greedy when others are fearful and you want to be fearful when others are greedy."

He uses an analogy of the economy being a star athlete in need of emergency medical treatment which brings a lot of clarity to the issue. Not only about what needs doing but about the futility of playing the blame game. He is pragmatic, compassionate, decisive and easy to understand.

Just watch it!

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