Dow Jones and CNBC yesterday were reporting that in a speech in Toronto Warren Buffett said that if the current deficit didn’t improve, the dollar would would be “worthless” in 5-10 years.
In a hilarious episode on Squawk Box this morning, Buffett himself called in to clarify his comments. He said the dollar would be “worth less” compared to other currencies – not “worthless”. It did seem a little extreme! LOL