A Quote by Warren Buffett
In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497.
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We will continue to ignore political and economic forecasts, which are an expensive distraction for many investors and
businessmen. Thirty years ago, no one could have foreseen the huge expansion of the Vietnam War, wage and price controls, two oil shocks, the resignation of a president, the dissolution of the Soviet Union, a one-day drop in the Dow of 508 points, or treasury bill yields fluctuating between 2.8% and 17.4%.
Market capitalism survived and prospered after the boom-bust industrial revolution of the 19th century, and the Great Depression and world wars of the 20th century. It will recover from the financial panic of 2008-09 and Obamanomics.
We had the great depression, we had two world wars, we had the flu epidemic. We had oil shock. We had all these terrible things happen. But something about the American system unleashed more and of a potential to human beings over that hundred years so that we had a seven for one improvement in - there's never been any - I mean, you have centuries where if you've got a 1 percent improvement, then it's something. So we've got a great system. And we've got more productive capacity now than we ever have.
Think of Europe in the 20th century. Two World Wars generated by nationalism. France, Germany, Britain fighting with each other.
Gone is any mention of American exceptionalism. I happen to believe that twice, three times in the 20th century, the United States saved Western democracy, both World War - both World Wars and the Cold War.
I point out the Democratic party won two world wars and beat the depression, cut out the poverty by two thirds, and was responsible for the same sustained prosperity that we've had in the United States. What the hell do we have to apologize for?
We often forget that Iran has a long tradition and history with the United States. Iranians have been coming to the United States as students for decades. American businessmen were in Iran developing the oil fields. ...There was an American financial advisor to the Iranian government in the early part of the century.
Beside the two wars he inherited in Iraq and Afghanistan, and promised to end, a financial crisis at home had pushed the United States to the brink of another Great Depression. When we spoke with the new president in March of 2009, the economy was losing 800,000 jobs a month, the government was throwing hundreds of billions of dollars at failing banks, and the auto industry was on the verge of collapse. Politically pummeled from all sides, Obama did his best to keep a sense of humor.
The influenza pandemic of 1918 may well be the greatest scourge ever to afflict humanity, exacting a death toll greater than all the wars of the 20th Century combined. The virus that wreaked this havoc apparently developed in birds, and then jumped to people. In other words, it was avian flu.
In the United States in the 20th century, every major event that America was going through, there was a boxer who seemed to symbolically represent it, from slavery to the Vietnam War to the Depression - all the way along, you just seemed to have boxers that carried the narrative.
Oil is also essential for military operations. No other substance, no other raw material, is so vital for the prosecution of warfare, than petroleum. And the United States being the world's only global power, is totally dependent on petroleum.
The world spends two trillion dollars a year on military, and of that two trillion the United States spends one trillion. We have a bigger military than the rest of the world put together. We have 150 foreign military bases.
George W. Bush, 43rd president of the United States, became the first incumbent president to increase his majority in both the Senate and the House and to increase his own vote (by over 3.5 million) since Franklin D. Roosevelt, political genius of the 20th century, in 1936.
If we're to have a future in the 21st century, we'll want to be able to say, "Now what was the 20th century like in the United States of America, the most powerful of all countries of that century? What was it like to be an ordinary person?"
The division of the United States into federations of equal force was decided long before the Civil War by the high financial powers of Europe. These bankers were afraid that the United States, if they remained in one block and as one nation, would attain economic and financial independence, which would upset their financial domination over the world. The voice of the Rothschilds prevailed... Therefore they sent their emissaries into the field to exploit the question of slavery and to open an abyss between the two sections of the Union.
Franklin Delano Roosevelt eventually became the greatest liberal leader of 20th century United States, but he started as a fiscal conservative. His greatness is founded in his willingness to change his mind to save his country from the Great Depression.
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