Squanderville vs. Thriftville

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Using animation, Warren Buffett eloquently explains in just more than two minutes why trade imbalances lead to serfdom. Put differently, and in the context of President Obama’s visit to China, “Thriftville” owns “Squanderville” in the endgame, as he explained in “I.O.U.S.A.: One Nation. Under Stress. In Debt“.

Source: YouTube.com, November 16, 2009 (hat tip: Wall St Cheat Sheet).

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