'We Are Not Prepared': Warren Buffett Warns Of Another Pandemic Worse Than Covid-19

"There is a nuclear, chemical, biological and now cyber threat…It doesn’t seem like it’s something that society is fully prepared to deal with"

Representational Picture (AFP)

New Delhi: It seems that the worst is not yet over for the economy as the billionaire Warren Buffett warned against another pandemic, which could be worse than that of Covid-19.

What are predictions of Warren Buffett?

In an interview with CNBC’s Buffett & Munger: A Wealth of Wisdom’ show, the CEO of Berkshire Hathaway noted that even though these situations are manageable, the world as a whole is not prepared for mass-scale prevention. The business leader has been quoted as saying, “there will be another pandemic. We know that there is a nuclear, chemical, biological and now cyber threat. Each of them has dire possibilities…It doesn’t seem like it’s something that society is fully prepared to deal with”.

What are major concerns?

The business leader, who holds ninth position in the Forbes billionaire ranking, said one of the major concerns was that that the world is not prepared enough to deal with emergency situations. He went on to say that society went through a hard time preparing for remote situations, which are bound to happen sooner or later. He also raised concerns on the uneven impact of the pandemic on smaller businesses. 

The new Covid-19 delta variant virus is steadily rising to becoming the most dominant strain on the planet and spread across almost 100 countries globally. Buffett said that the economic impact has been this “extremely uneven” and added that most of the big companies have “overwhelmingly done fine”. He said that the pandemic "is not over," but that most companies are doing well.

The leader also mentioned about facing financial uncertainty of his own since nobody could sense what was going to happen to his airlines BNSF Railway and NetJets in terms of demand. However, Buffett was quick enough to shift the focus to the industry and helping other companies stay afloat so that they did not have to rely on the government for aid. "We remind them that they had a rich brother," said the millionaire.