America

Earlier today Berkshire Hathaway released its 2015 annual report, which among other things includes Buffett's traditional annual observations and insights. Buffett brushes past last year’s disappointing stock performance, muses on the future of America while taking a swipe at Donald Trump, dwells on Berkshire’s ties to Brazilian PE firm 3G, talks about Berkshire’s big 2015 deal, defends manufactured-housing unit Clayton Homes, bashes inequality and capitalists (just not the crony kind), and concludes with a summary of the biggest risks facing America. 

Anyone hoping this week’s G-20 meeting would yield some manner of “Shanghai Accord” to revive sluggish global growth, pull the global economy out of the deflationary doldrums and calm jittery markets that have seen harrowing bouts of volatility in the first two months of the year are disappointed on Saturday.

Submitted by Doug Casey via InternationalMan.com,

Democracy is vastly overrated.

North Korea’s Kim Jong-un has threatened to release classified information on America’s “secret moon program” that the government have hidden from public view for the last 60 years.  Following the U.S. proposals to ban North Korean exports of coal, iron, gold, and titanium to China earlier this week, Kim Jong-un hit back warning that North Korea have access to explosive information that proves the U.S. government have secret bases on the moon.

We’ve written quite a bit about the decline of America’s once proud manufacturing industry which is now but a shadow of its former self and long ago ceded its place in the public’s heart and mind to the service industry, as US citizens are far more concerned with whether they can get a $6 latte than with whether the economy provides enough breadwinner jobs to keep the majority of the population from having to... well, serve $6 lattes for a living.

And if it was already bad, it's getting worse.