Health Uncle:Food Safety

A food safety concern has enveloped the U.S. recently.Peanut Corporation of America's Georgia factory shipped untold amounts of peanut products contaminated with deadly bacteria.At least eight deaths have been attributed to the contamination so far.Hundreds more have fallen ill.The use of peanut products is ubiquitous in the food industry.Almost anything we buy could have at least a small amount of peanuts in it.The only comfort is in the fact that most people who ate the products did not,in fact,fall ill.The contamination was apparently spotty,although the salmonella bacteria were detected in a shipment at the Canadian border.The shipment was rejected,but the U.S. authorities didn't look into it at the time.The food safety net has holes in it,so we have to look out for ourselves as best we can.If there is any doubt about an item or its preparation,don't consume it.Listen to that inner voice of caution.

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A Central Industry

The auto industry is of the utmost importance to the U.S. economy,says John Engler of the National Association of Manufacturers.There's overcapacity,and capacity is gonna have to come out.The auto industry accounts for 20% of manufacturing Gross Domestic Product.The failure of even one automaker could have a crippling effect.Our top priority is to get the economy moving and see job creation.Without a growing economy,very little in the public sphere is possible.We support funding now for 20 billion in shovel-ready infrastructure projects,the former Michigan governor stated.We still need global trade,but we need to be careful in an era of global recession that trade barriers aren't snuck in,Mr.Engler warned.

An Unchanging Approach

Warren Buffett's course hasn't been altered by the current economic events.We've spent a lot of money in the past four months,Mr.Buffett pointed out.He mentioned his investments in General Electric,Goldman Sachs,William Wrigley and Dow Chemical.Mr.Buffett read the book "The Intelligent Investor" 60 years ago-especially chapters 8 and 20.My ideas haven't changed since,he insisted.I'm happy in my 50-year old house.I love it,Warren Buffett professed.

What Investors Should Do

If investors are buying into a business they understand,at a reasonable price,they should be buying now,suggested Warren Buffett,whom many have adopted as their guiding star.All the newspaper headlines in the world don't change that.They ought to look to the business as to whether to be confident or not-the kind of business they bought and what they paid for it.I wouldn't put my trust in a single individual such as Bernard Madoff.I would put my trust in a very good business,the friend of sports stars Alex Rodriguez and LeBron James advised.

Remember the Revolution

We have a negative feedback cycle going on right now,but we'll break out of it,Warren Buffett maintained.No one can predict when that's going to happen.This certainly is nothing like World War II or the Great Depression.It's the worst financial crisis since World War II,but America comes through these things.Since 1776,it's been a mistake to bet against America,the Omaha businessman observed.

Buffett Describes the Crisis

Warren Buffett,the world's best-known investor,has been reflecting on the financial crisis.Right now,fear is winning,Mr.Buffett said.You saw it in the Christmas results.It really is an economic Pearl Harbor,but Barack Obama is absolutely the right commander-in-chief.He's smart;he's got the right values;he's got a good knowledge of economics;he's analytical,Mr.Buffett believes.