Ah, gotta love Warren Buffett. Always the smartest guy in the room in my book. And the fact that he gave away almost his entire fortune last year to charity makes this guy, even though he's one of the richest people in history, a saint in my book.
Remember last year, when he and Charlie said there was a massive real estate bubble that would go bust? Yup.
Remember when he said he was hording cash so he could buy assets at distressed prices after the crash? Nice play.
Remember how he took his dollars and had it in foreign currency during the dollar downfall? Oh, man, nice work. He's also buying foreign companies and moving out of the US when he can.
And here's his comments yesterday on the unsustainable US debt and "soft landings", and how this will unfold.
You can learn a lot from Buffett. Imagine him and The Corrupt David Lereah in the same room.
"Americans will live better 10 or 20 years from now," Buffett wrote. "But our citizens will also be forced every year to ship a significant portion of their current production abroad merely to service the cost of our huge debtor position.
"At some point in the future U.S. workers and voters will find this annual 'tribute' so onerous that there will be a severe political backlash," he continued. "How that will play out in markets is impossible to predict -- but to expect a 'soft landing' seems like wishful thinking."
22 comments:
The Republican bust is right on schedule.
They ruled the roost in the '20s until excessive credit (sound familiar?) led to a stock market crash & The Great Depression. Had they governed better and with a little foresight, Democrats would've never been able to get the social programs they put in place in the New Deal off the ground.
So what's coming this time? Now that a Republican president and congress has opened the door once again...
Completed my London house sale in November - sitting on cash and a bunch of Berkshire Hathaway shares. The Oracle of Omaha speaks and I listen.
Problem is, a lot of folks are listening to muppets masquarading as Oracles - like Liareah.
Haggis
Should I buy subprime lenders stock now?
The Oracle of Omaha speaks and I listen.
Well said. And I agree with Keith. Any guy who starts his business with a single pinball machine, becomes one of the richest guys in history, and then gives it away is top notch in my book. He has also remained very well grounded. No McMansion, no sports cars, no flashyness.
why folks think the gov't oughta pay for health care is beyond me...maybe the gov't should also buy you a house and hold your hand when you go peepee??? here's the truth: you live, maybe you take care of yourself, if you're a solid human being maybe you take care of some others - then you die. we know you americans are softer than soft but have your brains actually turned to jello???
Just another bitter renter. He probably cuts coupons...
Warren Buffet was the son of a senator, who no doubt helped him get his first investment partnership going. Calling him self made is just an american fairy tale. Its almost as if if Americans want to believe that you can still start at the bottom and work your way up. Check out forbes 400, at least half of them inherited.
By the way, everyone forgets, that Bill Gates mum was on the same do gooder orgainisation (united way) as the then chairman of IBM, this was when he made his famous deal, that made him billions.
Buffet and Soros IMHO are really astute ... however they also jump the gun. They have bought on dead cat bounces as well. But ... having 38 billion, you can afford a few dead cats.
Cool.
Cow_tipping.
where does he say he's leaving the states?
Warren is a bitter renter w/ 4k net worth!
Every leading industrialized nation in the world provides free healthcare to all its citizens except one.
And in that one nation, the only people getting free healthcare are the ones in the governmental positions. How can this be as the government is supposed to be working for the people, and not the other way around.
No, I am not talking about Russia.
The bush built scheitt sandwich will be thrusted on us all shortly, and then those 59 million dumbasses that voted for him will get what they wanted all along...
Q. Who led during the wonderful dotcom bubble?
A. DummyRat Sleazy Wille
The DummyRats still claim that it was the best of times when pets.com was worth more than Microsoft
Waaren Buffett is a schizophrenic doomsayer who has no credibility. Let the good times roll. I want to see the tech boom and RE boom at the same time so everyone can be rich. Warren is just afraid that somebody else will make more money. He wants it all by keeping everyone else down
It's always a problem, parasites enter every system from both sides, so will be the case with universal health care, that doesn't mean we shouldn't have it. Because, right now, too many people get to opt out yet still have access to care. I would like to see a system where the first $500 in premiums goes into a health care savings account for well care visits and premiums over that go into the general pool. I feel the same way everyone else here does about letting people eat and smoke and reproduce without penalty. I just don't see any easy way around that problem. Any ideas???
he's from Omaha, therefore he is a hick or so I've come to understand on HP. Anyone who doesn't live in NY or LA must always be mocked.
Oh and your hero also shops at Walmart, yes that's right evil walmart, the place where only hillbilly, toothless Scottsdale residents shop, or so I've learned from HP.
Yeah, He's a saint that left his grandaughter stone broke. What a caring saint.
Warren probably was richest guy in the country (prior to the donation); think Mr. Gates could liquefy >$10B in MSFT?
I live one mile away from Warren here in Omaha, NE. The man is as level headed and as grouded as you will ever find despite his enormous success. He still lives in the same modest house he bought over 40 years ago. Don't get me wrong, it's a nice house, but not elaborate by any stretch of the imagination. For many years, he drove very simple automobiles. He should be applauded for his announcement last year to give away nearly his entire fortune to charity including the Gates Foundation.
That sweater. That color of red. Over a white turtleneck. With a matching...ukelele.
Even the glasses. One can look good and learn to play a real instrument even if one is frugal. Walmart? I could pick out smarter clothes at the Sal'. Rich people with poor taste - depressing.
I want my free healthcare. I shouldn't have to pay for it. It will be somebody else's money, maybe grown on trees. It will be free for everybody. That makes sense.
I am from Europe and I hate America because it doesn't have free healthcare.
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