Interesting interview with Buffett on front page of today's National Post. His key points: He is still a "huge bull" on the U.S. economy. The U.S. has survived turmoil before. Let the banks bear their own losses without government help. They're selling a lot of new shares, diluting future earnings and "paying a price." Better to let the banks pay for their mistakes than socialize the debt for the American public. Sovereign wealth fund buying of U.S. assets is a result of the 42 billion per day trade deficit. We're making deposits in their wealth funds, in effect. We've now seen credit cut off to a lot of things that should have been cut off. We're not in a credit crunch for those who have sound deals. I went through 1982 when short-term money cost 21%. This is not a tough period. It is not a smart thing to sell the U.S. short over the years - or Canada for that matter.