Corona’s effect is unusual … but nothing stops America

Berkshire Hathaway, owner of US billionaire Warren Buffett, offered an optimistic assessment Saturday of the United States’ ability to cope with crises despite his admission that the Coronavirus virus epidemic may have broad implications for the economy.

Buffett, 89, spoke at the company’s annual meeting in Omaha, Nebraska, which was held online for the first time and without shareholders due to the epidemic. The minutes of the meeting were broadcast live on Yahoo Finance.

Buffett said the potential impact of the pandemic, which had already seriously damaged the global economy, was “unusually wide-scale.”

But he maintained his usual optimism that the United States would treat him successfully, indicating that he emerged from crises like World War II and the flu pandemic 100 years ago.

“I am still convinced that there is nothing that can stop the United States,” Buffett said.

Notably, US billionaire Warren Buffett’s Berkshire Hathaway group was badly hit by the Corona virus and posted a record net quarterly loss of about $ 50 billion today, Saturday, and the company said performance suffers in several major companies.

Berkshire said that most of its more than 90 activities had negative impacts, ranging from “relatively simple to severe” due to Covid-19 disease caused by HIV infection, adding that earnings slowed in April, even in “core” business activities.

BNSF Railways witnessed a decrease in cargo volume, and some companies cut wages and laid off employees. Retailers like SeasCandies and Nebraska Furniture Mart have closed some stores.

Berkshire’s first-quarter net loss was $ 49.75 billion.