Friday, May 2:
From the Omaha World-Herald live-blog of the Q&A session:
A shareholder says he has seen windfarms in
A shareholder asks what questions about the world economy Buffett and Munger ask each other. Buffett says the world always has problems but unfortunately it is the only world we have. Buffett says over time, the United States has a great system and people will be better off in the future compared with the present. Buffett says the system unleashes human potential. Buffett says China went for a long time with a system that didn't unleash human potential. Buffett says that has changed, and China's system does unleash human potential. Buffett says capitalism always will have bad years. Buffett says overall the world moves ahead and really it is at a pretty rapid rate. Munger says the closer he moves to death the more cheerful he feels about the world's potential. Munger says harnessing the sun's power and changing sea water to fresh, other changes are for the better. Munger says he sees very good things for the future, including enough energy generation to solve a lot of other problems along with it.