"I think that the US has followed and is following policies which will cause the US dollar to weaken over a long period of time," he said.In other news, when I haven't been obsessively following the U.S. presidential election, I've been obsessively reading foodie blogs and baking cupcakes. Is this recipe better or that one better? What has the blogosphere had to say about one recipe or the other, if at all?
After voicing support for Obama, Buffett nonetheless noted the US economy had managed to do "awfully well" despite a depression, two world wars and many financial crises.
"They say in the stock market ... buy stock in a business that's so good that an idiot can run it because sooner or later one will," he added.
"Well, the United States is a little like that. We can take a little mis-management from time to time," Buffett said.
I made chocolate cupcakes with peanut butter frosting (almost vegan except for the butter in the frosting) and last night I made yellow cupcakes, which I plan to frost with a tub of Betty Crocker Milk Chocolate frosting which Mike gave to me and I need to use up. Pictures to follow...