World News: Bill Gates and Warren Buffet on the future of the economy and markets

Long time friends Bill Gates and Warren Buffet seem to share one's opinions about economic growth and stability going forward. Gates was recently part of an 'Ask Me Anything' (AMA) and was asked his opinion about the whether we would see another financial crisis sometime in the near future. His response was a blunt, "Yes. It is hard to say when, but this is a certainty." He also added, "Fortunately, we got through that one reasonably well. Warren has talked about this and he understands this area far better than I do." Gates concluded his AMA saying "Despite this prediction of bumps ahead, I am quite optimistic about how innovation and capitalism will improve the situation for humans everywhere."

I don't think it'll be to anyone's surprise when there is another crisis of some sort. It seems to be an inevitable part of modern society. More a question of when, not if. We seem to be getting better at overcoming the perils that accompany a depression in the economy. HOWEVER, many of the solutions revolve around over spending and printing money to stimulate economic areas through the hard times. I'm sure this in itself will start to cause separate problems as the money itself will generationally lose value. Personally I think the we're all heading down a road to a world of hurt sometime in the future. Money is being printed at an unprecedented rate. Countries are accumulating more and more debt. Corporations are starting to become more powerful than governments.

I may share a slightly more pessimistic view of things moving forward as opposed to Gates and Bufet. In an essay for Time magazine, Warren said years of growth "certainly lie ahead," and "most American children are going to live far better than their parents did."

Those of you who dabble in stocks or cryptocurrencies may take a bit of advice from Buffet when he said "As for how you, the investor, should react if the market tanks, keep a level head and stay the course." "Don't watch the market closely." "If they're trying to buy and sell stocks, and worry when they go down a little bit … and think they should maybe sell them when they go up, they're not going to have very good results."

Rather, think long term and leave your investment alone, says Buffett: "If you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes."

Wise investment words that can be applied to many things.

Source: MSNBC