In this video of Warren Buffett on Goldman Sachs, he says that the public was terrified in 2008, and that spilled over into the economy. The government saved everyone. They took action, and people needed to know that the government was going to help them out. The demand is coming. March and April were strong, and when demand comes employment follows. Rule of Law, equality of opportunity and the market system are what is great about America.
We are exporting 12% of GDP, and there is nothing wrong with that. This country works, and it will always work. You can run modest deficits, but you can’t run large deficits for a long period of time. Trust comes back slowly. Fear comes on fast and confidence comes on slowly. The Warren Buffett on Goldman Sachs trust factor has diminished a bit. The United States lost trust in Goldman Sachs. They just need to get it right and get on with it. They need to get the factual story out there. There is no question that if you miss a news cycle, then you have a lot of catching up to do. Everyone in America thought that house prices couldn’t fall off of a cliff. America is still a work in progress.