As Buffett warns, these huge trade deficits cannot be sustained. They are draining our economy. There has to be a reckoning. We have not faced that reckoning yet, but it is inescapable. It has to happen. We have to tackle this as a country, with a national plan.
"Out of sight, out of mind" has played a huge role in how we've gotten into the environmental mess we're in now. We don't live in that world anymore. We can see our brothers and sisters across the globe. We can distribute necessary things far and wide.
The Berkshire Hathaway offer to buy the Media General newspaper chain should offer the industry a shot of long-term optimism. Buffett expects a profitable future for newspapers during the next couple of decades.