Name: The U.S. Economy Will Beat Coronavirus, Buffett Says: ‘Never Bet Against America’
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The U.S. Economy Will Beat Coronavirus, Buffett Says: ‘Never Bet Against America’

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BETAThis is a BETA experience. You may opt-out by&nbsp;May 2, 2020,New!Got it!Billionaire investor Warren Buffett, speaking at Berkshire Hathaway’s first-ever virtual shareholders meeting on Saturday, said that he is optimistic that the U.S. economy can bounce back and overcome coronavirus.&nbsp;While Buffett admitted that “we haven’t faced anything that quite resembles this problem” before, he said that the United States has “faced tougher problems” and overcome them in the past.“I remain convinced… nothing can basically stop America,” he said. “The American miracle, the American magic has always prevailed and it will do so again.”Buffett acknowledged that the virus is “still hard to evaluate” and “we’re learning as we go along,” though he says that he does take solace in the fact that it is “not as lethal as it may have been.”While he is optimistic about America’s economic future, Buffett said that the fallout from coronavirus is still unclear—and hard to compare to past crises: “In 2008-2009, our economic train went off the tracks,” he described. “This time, we just pulled the train off the tracks and put it on a siding.”&nbsp;The Oracle of Omaha took a big-picture view to demonstrate his optimism about the economy: The United States today is “an incredibly more wealthy country than we were in 1789.”He calculated that the net worth of the United States in 1789 amounted to around $1 billion, while the wealth of the country today is well over $100 trillion: “That’s mind blowing,” he said.(Forbes)(Forbes)(Forbes)(Forbes)&nbsp;or&nbsp;.&nbsp;.&nbsp;

BETAThis is a BETA experience. You may opt-out by&nbsp;May 2, 2020,New!Got it!Billionaire investor Warren Buffett, speaking at Berkshire Hathaway’s first-ever virtual shareholders meeting on Saturday, said that he is optimistic that the U.S. economy can bounce back and overcome coronavirus.&nbsp;While Buffett admitted that “we haven’t faced anything that quite resembles this problem” before, he said that the United States has “faced tougher problems” and overcome them in the past.“I remain convinced… nothing can basically stop America,” he said. “The American miracle, the American magic has...

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I am a New York—based reporter for Forbes covering breaking news, with a focus on financial topics. Previously, I wrote about investing for Money Magazine and was an intern at Forbes in 2015 and 2016. I graduated from the University of St Andrews in 2018, majoring in International Relations and Modern History. Follow me on Twitter @skleb1234 or email me at sklebnikov@forbes.com

https://www.forbes.com/sites/sergeiklebnikov/#50bd30583a70

Sergei Klebnikov

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The U.S. Economy Will Beat Coronavirus, Buffett Says: ‘Never Bet Against America’

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