Warren Buffett, a billionaire, warned about inflation in his annual letter to Berkshire Hathaway Inc. shareholders and criticised the “disgusting” behavior of some money managers.

Warren Buffett, the world’s most successful investor, warned that fiscal deficits can have serious consequences.

Charlie Munger (99 years old) and Charlie Munger (Vice Chairman Berkshire Hathaway) have the responsibility to “manage Berkshire’s operations, finances and cash flows in a way that will achieve an acceptable outcome over time and that will preserve Berkshire’s unmatched staying power during financial panics and severe global recessions.” Berkshire also offers some protection against runaway inflation. However, it is not foolproof.

Buffett, a 92-year-old man, warned that “huge, deep fiscal deficits have serious consequences.”

1776 Coalition Sponsored The Trump victory isn’t enough If you think our 2nd Amendment Rights are safe now that Trump won, think again. Over a hundred Leftist groups have implemented a resistance movement against Trump’s reforms. They call it “Trump Proofing,” and if they succeed, conservatives will have lost. Join the Citizens Committee for the Right to Keep and Bear Arms in the fight stop the Left from “Trump Proofing” our 2A rights!

He also made it clear that Berkshire was not to blame for any losses.

He wrote that Berkshire paid $32 Billion in U.S. corporate income tax in the decade that ended in 2021. This is despite the fact the federal government spending $43.9 Trillion during that period.

Buffett stated: “And that means – brace yourself – had approximately 1,000 taxpayers in America matching Berkshire payments, no other business or any of the nation’s 131,000,000 households would have required to pay any taxes the federal government.”

The 92-year old advised investors to look strategically at the future, a sign of his belief in the U.S. economic system.

“More that a third of the history has passed since I started actively investing. Despite American citizens’ propensity to self-criticism, and even self-doubtfulness, I have never seen a situation where it would be prudent to make a long-term investment against the United States. “The man spoke up, and explained. It’s unlikely that anyone reading this letter will have any other experience than mine.

In a letter to shareholders Buffett declared it a “good year” for Berkshire Hathaway. The company also posted record earnings of $30.8 million. The firm as a whole lost $22.8 billion in the last year.

Buffett, in a review of the last year, criticized the “disgusting behavior” of money managers and gave what he called an important warning.

“The last word is caution: managers can manipulate even the operating earnings figure we prefer. This meddling is often viewed as sophisticated by directors, CEOs, and advisors. Industry experts and news organizations alike have accepted its existence.

“As a human being you shouldn’t engage in such a revolting act.” You don’t need a strong motivation or reason to manipulate numbers.

Buffett stated that dishonesty disguised under “bold imaginative accounting,” has “become one the shames capitalism.”