Warren Buffett accuses U.S. presidential candidates of making economy seem worse than it is

OMAHA, Neb. – The United States’ economy is within better shape compared to presidential candidates allow it to be seem, investor Warren Buffett said Saturday, despite the fact that businesses like his still face challenges.

In his annual letter to Berkshire Hathaway shareholders, Buffett didn’t name specific candidates or issues, but noted that the negative drumbeat concerning the economy, healthcare reform and income inequality may get voters down about the future.

“It’s an election year, and candidates can’t stop speaking about our country’s problems (which, obviously, only they are able to solve),” he explained, adding later, “that view is dead wrong: The babies being born in the usa today are the luckiest crop ever.”

The answer such disruptions isn’t the restraining or outlawing of actions that increase productivity. Americans would not be living nearly as along with we all do when we had mandated that 11 million people should forever are employed in farming.

Buffett noted that there will still be economic troubles as business evolves, but that the country must make certain it features a solid safety net to help people who lose jobs.

“The answer such disruptions is not the restraining or outlawing of actions that increase productivity. Americans would not be living as along with we do when we had mandated that 11 million people should forever be employed in farming,” he wrote.

Buffett pointed out that change also creates challenges for Berkshire’s businesses. For example, its BNSF railroad is certain to haul less coal in the future and Geico insurance might be hurt by driverless cars.

He assured shareholders that Berkshire’s businesses will adapt just as the company did when its original Berkshire Hathaway textile operation failed.

Buffett’s letter is one of the most well-read documents the business world each year because of his successful track record and his knack for explaining complicated subjects in simple terms.

Buffett said it value of Berkshire’s businesses improved 6.4 percent this past year even as its stock price fell 12.5 percent. When dividends are factored in, the S&P 500 gained 1.4 % in comparison. Buffett has warned that it’ll be increasingly a hardship on Berkshire to continue beating the marketplace because the clients are so large.

Berkshire Hathaway employs more than 360,000 people at its eclectic mix of companies, including insurance, utilities, railroad, manufacturing and retail firms. Berkshire also holds significant stakes in Coca-Cola, Wells Fargo, American Express, IBM and other companies.