Farms, Nations & Buffett

Warren Buffett is famous and he is smart.

He made this comment about the USA however it equally applies to New Zealand.

It is as follows:

"In effect, our country has been behaving like an extraordinarily rich family that possesses an immense farm. In order to consume 4% more than we produce - that's the trade deficit - we have, day by day, been both selling pieces of the farm and increasing the mortgage on what we still own."

Makes you think doesn't it?

Brent King B.Com., C.A., R.F.A

Managing Director

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