World Clock

Sunday, 11 July 2010

A Warning From History - According to Warren Buffett

Upon the recommendation of Warren Buffett to his friends this book, previously out of print (now available on Amazon) has become a cult among financiers, businessmen and investors alike. It describes how political weakness in post World War 1 Germany led to a massive failure in economic management that resulted in the economy spiralling out of control. Adam Ferguson, 78 the author of this book says today "if you are trying to decide whether to go for quantitative easing or high unemployment, in the end you'll have both".  The reason why this book has become a such a huge hit is because it describes in detail the devastation that is brought about as a result of hyperinflation and the effects it has on ordinary people. Ferguson goes on to say "if you destroy the value of money, you destroy the cornerstone of society.

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