America’s achievements are ‘miraculous.’
Warren Buffett, one of the greatest investors in the history of recorded math, has a message for President Donald Trump: America is already great.
The billionaire Berkshire Hathaway CEO, one of the most successful investors in the world and the second richest person in America after Bill Gates, waded into politics in an annual letter to shareholders on Saturday.
“One word sums up our countrys achievements: miraculous,” Buffett wrote. “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 has always been a believer in the American dream, and he’s written about it in his annual letters before. But this year’s was the first in recent memory to mention a “tide of talented and ambitious immigrants,” or immigration at all, Yahoo Finance pointed out. Buffett, a longtime Democrat, didn’t mention Trump by name. But his explanation of his worldview stood in contrast to immigration policies coming from the White House.
“However our wealth may be divided, the mind-boggling amounts you see around you belong almost exclusively to Americans,” Buffett wrote. “Foreigners, of course, own or have claims on a modest portion of our wealth. Those holdings, however, are of little importance to our national balance sheet: Our citizens own assets abroad that are roughly comparable in value.”
“You need not be an economist to understand how well our system has worked. Just look around you. See the 75 million owner-occupied homes, the bountiful farmland, the 260 million vehicles, the hyper-productive factories, the great medical centers, the talent-filled universities, you name it they all represent a net gain for Americans from the barren lands, primitive structures and meager output of 1776,” he added. “Starting from scratch, America has amassed wealth totaling $90 trillion.”
Trump might agree that these economic systems make America great, but Buffett thinks America is getting better.
“Ill repeat what Ive both said in the past and expect to say in future years: Babies born in America today are the luckiest crop in history,” Buffett said.
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