{"id":3863,"date":"2023-05-07T16:02:23","date_gmt":"2023-05-07T21:02:23","guid":{"rendered":"https:\/\/embarrdowns.com\/warren-buffett-expresses-concerns-about-us-economy-and-warns-about-ai-and-printing-money\/"},"modified":"2023-05-07T16:02:23","modified_gmt":"2023-05-07T21:02:23","slug":"warren-buffett-expresses-concerns-about-us-economy-and-warns-about-ai-and-printing-money","status":"publish","type":"post","link":"https:\/\/embarrdowns.com\/warren-buffett-expresses-concerns-about-us-economy-and-warns-about-ai-and-printing-money\/","title":{"rendered":"Warren Buffett Expresses Concerns About US Economy and Warns About AI and Printing Money"},"content":{"rendered":"

At Berkshire Hathaway’s annual shareholder meeting, CEO Warren Buffett expressed concerns about the US economy, stating that the “incredible period” of growth may be coming to an end and that the majority of the company’s businesses will report lower earnings this year than last.[0]<\/a><\/sup> However, he did note that he expects earnings at its insurance underwriting operations to improve this year.[1]<\/a><\/sup> Buffett also discussed his investment in Apple, saying that while he doesn’t understand devices like the iPhone, he understands consumer behavior and how loyal customers are to Apple.[2]<\/a><\/sup> Berkshire Hathaway’s stake in Apple is now worth roughly $116 billion. Additionally, Buffett warned about the consequences of AI, stating that it can change “everything in the world, except how men think and behave.”[3]<\/a><\/sup> He also criticized bank executives who took undue risks and called for “punishment” for bad behavior.[4]<\/a><\/sup> Finally, Buffett expressed confidence that the US dollar will not be dethroned as the reserve currency but warned against the extent to which the United States has been printing money, which could erode the dollar’s value.[0]<\/a><\/sup><\/p>\n

0. <\/span>“Roundup: Good times for U.S. economy may be over, says billionaire investor Buffett” Xinhua, 7 May. 2023, https:\/\/english.news.cn\/20230507\/3657c19e655e4abfb30fec04299d5bac\/c.html<\/a><\/a><\/p>\n

1. <\/span>“Buffett Reaffirms Abel as Heir, Blames Bank Leaders for Failures” Yahoo Finance, 6 May. 2023, https:\/\/finance.yahoo.com\/news\/buffett-reaffirms-abel-heir-blames-212806256.html<\/a><\/a><\/p>\n

2. <\/span>“Warren Buffett: ‘Apple is not 35% of Berkshire’s portfolio'” Yahoo Finance, 6 May. 2023, https:\/\/finance.yahoo.com\/news\/warren-buffett-apple-is-not-35-of-berkshires-portfolio-175313329.html<\/a><\/a><\/p>\n

3. <\/span>“Buffett and Munger Talk AI, Robotics, and More at Berkshire Hathaway’s Annual Meeting” The Motley Fool, 6 May. 2023, https:\/\/www.fool.com\/investing\/2023\/05\/06\/buffett-munger-ai-robotics-berkshire-meeting-2023\/<\/a><\/a><\/p>\n

4. <\/span>“Warren Buffett says American banks could face more turbulence ahead, but deposits are safe” CNBC, 6 May. 2023, https:\/\/www.cnbc.com\/2023\/05\/06\/warren-buffett-says-american-banks-could-face-more-turbulence-ahead-but-deposits-are-safe.html<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

At Berkshire Hathaway’s annual shareholder meeting, CEO Warren Buffett expressed concerns about the US economy, stating that the “incredible period” of growth may be coming to an end and that the majority of the company’s businesses will report lower earnings this year than last.[0]<\/a><\/sup> However, he did note that he expects earnings at its insurance underwriting operations to improve this year.[1]<\/a><\/sup> Buffett also discussed his investment in Apple, saying that while he doesn’t understand devices like the iPhone, he understands consumer behavior and how loyal customers are to Apple.[2]<\/a><\/sup> Berkshire Hathaway’s stake in Apple is now worth roughly $116 billion. Additionally, Buffett warned about the consequences of AI, stating that it can change “everything in the world, except how men think and behave.”[3]<\/a><\/sup> He also criticized bank executives who took undue risks and called for “punishment” for bad behavior.[4]<\/a><\/sup> Finally, Buffett expressed confidence that the US dollar will not be dethroned as the reserve currency but warned against the extent to which the United States has been printing money, which could erode the dollar’s value.[0]<\/a><\/sup><\/p>\n

0. <\/span>“Roundup: Good times for U.S. economy may be over, says billionaire investor Buffett” Xinhua, 7 May. 2023, https:\/\/english.news.cn\/20230507\/3657c19e655e4abfb30fec04299d5bac\/c.html<\/a><\/a><\/p>\n

1. <\/span>“Buffett Reaffirms Abel as Heir, Blames Bank Leaders for Failures” Yahoo Finance, 6 May. 2023, https:\/\/finance.yahoo.com\/news\/buffett-reaffirms-abel-heir-blames-212806256.html<\/a><\/a><\/p>\n

2. <\/span>“Warren Buffett: ‘Apple is not 35% of Berkshire’s portfolio'” Yahoo Finance, 6 May. 2023, https:\/\/finance.yahoo.com\/news\/warren-buffett-apple-is-not-35-of-berkshires-portfolio-175313329.html<\/a><\/a><\/p>\n

3. <\/span>“Buffett and Munger Talk AI, Robotics, and More at Berkshire Hathaway’s Annual Meeting” The Motley Fool, 6 May. 2023, https:\/\/www.fool.com\/investing\/2023\/05\/06\/buffett-munger-ai-robotics-berkshire-meeting-2023\/<\/a><\/a><\/p>\n

4. <\/span>“Warren Buffett says American banks could face more turbulence ahead, but deposits are safe” CNBC, 6 May. 2023, https:\/\/www.cnbc.com\/2023\/05\/06\/warren-buffett-says-american-banks-could-face-more-turbulence-ahead-but-deposits-are-safe.html<\/a><\/a><\/p>\n","protected":false},"author":3,"featured_media":3862,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"_links":{"self":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/3863"}],"collection":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/comments?post=3863"}],"version-history":[{"count":0,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/3863\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media\/3862"}],"wp:attachment":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media?parent=3863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/categories?post=3863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/tags?post=3863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}