Just because Buffett has made lots of dough does not mean he knows or understands a lot about economics. In fact the uber rich are potentially less aware of economic fundamentals than your average plumber. The fact that he applauds what Obama (and Bush before him) has done re pumping billions into non performing businesses illustrates this quite clearly. I actually put him in the same category as nut jobs like Ted Turner and George Soros. All they ever think about is how the economy can be manipulated, rather than how it can be set free.
