NEW YORK — Warren Buffett’s Berkshire Hathaway Inc. on Tuesday agreed to buy Burlington Northern Santa Fe Corp., making a $34 billion bet on the future of the U.S. economy.

Burlington Northern, the second-largest U.S. railroad, is the biggest hauler of food products like corn and coal for electricity, making it an indicator of the country’s economic health. The railroad also ships a large amount of goods from Western ports including everyday items such as refrigerators, clothing and TVs.

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pmancusi

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This is stupid. By even the lying Obama administration's best estimates the economy will continue to flatline. There was a time when Buffet hated railroads because of their tendency to eat away at capital. This appears to be an old man's last attempt to recapture his glory days. He's no different than Bobby Orr coming back on his bad knees, Michael Jordan's multiple retirements and Cassius Clay, the draft dodger, continuing until his brain was pounded into mush.

 

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