In America, there is a running dialogue that America isn’t as great as it once was. President Trump ran on the “Make America Great Again” slogan, and the theme has continued through his presidency so far. However, some people have argued that America is already great. Warren Buffett, a staunch democrat who supported Hillary Clinton during the 2016 presidential election, is one of those people.
Of course, this isn’t going to be surprising to anyone who knows anything about the Oracle of Omaha. Buffett has long been a proponent of American markets and how the country, despite its ups and downs, is really a pretty great place. He frequently talks about winning the “ovarian lottery” when he was born in America.
In his most recent 2016 shareholder letter, Buffett devoted a little bit of time talking about the country’s prospects and background, and how the country is way more impressive than people—Americans included—realize.
“One word sums up our country’s achievements: miraculous. From a standing start 240 years ago–a span of time less than triple my days on earth–Americans have combined human ingenuity, a market system, a tide of talented and ambitious immigrants, and the rule of law to deliver abundance beyond any dreams of our forefathers,” Buffett wrote.
He went on to say that the company has amassed an impressive amount of wealth and predicted that the country would continue to improve. Children born today in America are, according to Buffett some of the luckiest in history.
“American business – and consequently a basket of stocks – is virtually certain to be worth far more in the years ahead. Innovation, productivity gains, entrepreneurial spirit and an abundance of capital will see to that. Ever-present naysayers may prosper by marketing their gloomy forecasts. But heaven help them if they act on the nonsense they peddle.”