Posted on 01/18/2009 6:27:35 PM PST by Red in Blue PA
OMAHA, Neb. (AP) -- Billionaire investor Warren Buffett says the U.S. is engaged in an "economic Pearl Harbor." In an interview that aired Sunday on "Dateline NBC," the chairman and CEO of Berkshire Hathaway Inc. said the nation's economic situation is not as bad at World War II or the Great Depression, but it's still pretty severe.
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Buffett said Americans are in a cycle of fear, "which leads to people not wanting to spend and not wanting to make investments, and that leads to more fear. We'll break out of it. It takes time."
Buffett's interview centered on President-elect Barack Obama and the tough task he faces in fixing the U.S. economy.
"You couldn't have anybody better in charge," the Omaha resident said of Obama, who'll be sworn into office on Tuesday.
(Excerpt) Read more at biz.yahoo.com ...
I imagine this must have been what Jonestown was like.
The U.S. government is the Japanese and we, the taxpayers, are the U.S. Navy, right?
The rich have taken the brunt of this downturn, with both stocks and real estate crumbling. Not so surprising that they trash the current administration for causing it.
I assume he's talking about the democrat sponsored "October Surprise".
Last time, we destroyed the perpetrators. Dodd and Fwank ought to be heading for higher ground.
yep, nobody better than hussein the muslim to be in charge. we are so lucky.
Translation. WE couldn't have anybody in our charge. He looks good, distracts good, sells good. We've made him, and his wife rich, and he wants and we will reward him with more riches. He doesn't believe in the left anymore than when he was wasting away with those Thunderbird breathed crackheads mewing about water leaks in the project or rich trust fund liberals at Harvard crying about the Sandinistas. Obama's a pro, a cynic and knows the real game, the big money game is the game and the rest is all boob bait show for the left and right Bubbas.
Buffett knows Obama is the best person to have in charge based on what?
“As one of Obama’s economic advisers, Buffett said the president-elect listens to what his advisers say, but ultimately comes up with better ideas.”
Thats a shame. Buffet actually knows what he is talking about, and I have to agree with him about the fear factor. He was dead wrong about Obama being the right person to be in power.
Great. Now we're supposed to listen to someone in a psychotic delirium praising a socialist neophyte.
Tell me how could the Oracle of Omaha be wrong?
"You couldn't have anybody better in charge," the Omaha resident said of Obama, who'll be sworn into office on Tuesday.is doodoo.
The US is in a recession. Europe and Asia are in a depression.
Rich don't care about their house price anymore than you care about 12 year old used car. Nor stock prices, since they don't have to sell for the next two generations.
Right now real Rich are buying like crazy, or waiting for prices to go lower.
Let me put it this way. If today your Grand child is born, and isn't already legally worth, say 50 million. You are not rich.
When I say “rich,” I mean by Democrat standards. The rich are the folks who own the stocks and the real estate.
They are the ones who took the hit.
Yes, I agree.
Just nuts. Last I recall this domestic economic mess was not caused by the Japanese with a surprise attack on our economy.
Whaddya mean, this IS the worst economic crisis since the Great Depression.
MSM’s been telling us that for weeks. Pay attention Warren!
Bush’s fault, naturally.
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