Warren Buffett thinks the "normal regenerative capacity of American capitalism" trumps fiscal and monetary policy in the long run. From this CNBC article:
"...we had many recessions in the history of this country when nobody even heard of fiscal policy or monetary policy. The country always comes back.
There are 309 million people out there that are trying to improve their lot in life. And we've got a system that allows them to do it. It doesn't allow things to get changed overnight, though. And...it's important to have the right monetary policy. It's important for-- to have the right fiscal policy. But it's nowhere near as important as just the normal regenerative capacity of American capitalism." - Warren Buffett
Some seem to underestimate (or ignore) the factors that allow our economic system to recover from the excesses and imbalances that inevitably occur from time to time.
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