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Warren Buffett comments on the US credit rating downgrade 👇

"There are some things people shouldn't worry about," he said. "This is one of them."

Buffett said: We bought $10 billion of Treasuries this Monday. And the only question for next Monday is whether we buy three-month or six-month $10 billion Treasury bonds.

Ratings firm Fitch said on Tuesday: We expect fiscal deterioration over the next three years and rising debt. The downgrade thus triggered a sell-off in US stocks. The S&P 500 index fell 1.38% on Wednesday.

Buffett noted that these concerns are legitimate and said he disagrees with everything the federal government is doing. But that doesn't mean he's going to change his views on U.S. Treasuries and the dollar.

"The dollar is the reserve currency of the world and everybody knows it," Buffett said.

"There are some things people shouldn't worry about," he said. "This is one of them."... this is pretty cool :) Buffett's definitely a cool guy, but I find him pretty arrogant at times...

https://youtu.be/BISTzmGfHrI?t=173 I'm sending with a specific time. I'd say that describes it perfectly. As Victor writes, if it weren't for the US, the rating would be elsewhere.

I'm honestly stating how this is going to play out. The debt is big but the economy is humming right now 🤔

I don't think anything big will happen as a result. We're going to see those new highs again anyway, and this is no reason for new lows. It will just be another cog on the chart.

We just don't know how big😅

What else would he say when he wants that kind of money parked there. If any other country had that kind of debt, it would have that rating at least a notch lower.

True. Moreover, Buffett doesn't change his mind just like that and he believes in America for the long term. But it is true that with the US situation, any other country would go even lower with the rating.

Ideal to short and then buy for a few years.

Well, it was nice for a short. But today is surprisingly calm and we see growth in all indices.

I guess... well... buy and hold.