Berkshire Hathaway CEO Warren Buffett has never been one to mince words on any topic, and on Tuesday of this week he put in his two cents worth on current developments in American politics. The billionaire spoke with retired financial journalist Carol Loomis at the annual Fortune’s Most Powerful Women Summit on Tuesday morning in Washington DC, covering topics ranging from his (not impending) retirement to his thoughts on the U.S. presidential campaign and politics more generally.
Warren Buffett says Hillary Clinton likely to win 2016 presidential election
Some hours ahead of the first Democratic presidential debate yesterday, Buffett noted that he believes that Hillary Clinton will be the Democratic nominee and that she has the best chance of becoming the next U.S. president. "The Democrats are most likely to win if they get turn-out," Buffett commented. "In 2012 they did a much better job than they had historically in bringing out their base."
Republican schism turning America into "three party" political system
Warren Buffett also offered an interesting perspective on the current American political landscape, and the ongoing schism in the Republican Party.
"We've always thought [of America] in terms of a two-party government," he said, referring to the ideological gap between "traditional Republicans" and the party's growing far-right wing. "We now really have a three-party government. There is a distinct party now within the Republican party...That's not something we've come to grips with in this country."
The Oracle of Omaha would not say how he thought it would end up for the Republicans, but he did allow that "you're witnessing a quiet revolution in terms of how America will be governed," adding that it's not something he'd want to be a part of. "It's a great spectator sport. I wouldn't want to be a participant."
Buffett takes a swipe at Trump
Although Buffett did not specifically mention any Republican presidential candidates, he did take a swipe at one time Republican frontrunner Donald Trump "Make America Great Again? America's great now," he commented, poking at Trump's slogan. He went on to point to the current growth in U.S. GDP, and noted that "the world is changing all the time for the better."