Brian Gongol

Warren Buffett and Charlie Munger share a great deal of valuable common-sense but contrarian advice at their annual Q&A session. Recommended reading, even for those who aren't Berkshire shareholders, or even knowledgeable investors.

Given that a major share (by some metrics, a majority) of Federal debt is held outside the United States, the political pressure against inflation may be greater than the pressure against default. This fact makes it possible -- perhaps even likely -- that we could lose our AAA debt rating, which in turn will force us to pay higher interest rates on our debt, which in turn causes the debt to grow faster than before, which in turn makes it even more likely that default could occur.

Skilling is the well-known meteorologist at WGN-TV in Chicago; outside the Weather Channel, his is probably the most significant television weather forecast in the country, since the weather in the Midwest is the most variable (and economically significant) in the country


The EPA is struggling with an internal dispute over the matter