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Market turmoil gets Barack Obama elected. He knows this and more importantly, so do his supporters. A survey released by Prince and Associates, shows that 75% of voters worth $1 million to $10 million are favoring John McCain, but of those voters worth more than $30 million, two-thirds support Obama. It's no secret that the majority of uber rich individuals despise the current administration and are willing to do whatever they can to get new blood into the White House; even if it comes under conditions of an economic collapse. These Obama billionaires, led by famed market manipulator George Soros,...

Los Angeles: Barack Obama has promised to increase taxes if he becomes president of the United States. But the really rich want change and many of them have said they are voting for the senator from Illinois. Despite the tradition that says the country's wealthy tend to favour the Republican Party, there has been an unexpected swing ahead of Tuesday's election that favours the black Democratic candidate. For starters, the country's two richest men, Warren Buffett and Bill Gates, have already said they will vote for Obama. According to Forbes magazine, Gates - worth an estimated $55.5 billion - contributed...

Sometimes I wish there were a humane way to get rid of the rich. Without the rich for whipping boys, we might be able to concentrate on what's best for the 99 and a half percent of the rest of us. Warren Buffett and Bill Gates, with about $60 billion in assets each, are America's richest men. With all that money, what can they force us to do? Can they take our house to make room so that another person can build an auto dealership or a casino parking lot? Can they force us to pay money into the government-run...

Sometimes I wish there were a humane way to get rid of the rich. Without the rich for whipping boys, we might be able to concentrate on what's best for the 99 and a half percent of the rest of us. Warren Buffett and Bill Gates, with about $60 billion in assets each, are America's richest men. With all that money, what can they force us to do? Can they take our house to make room so that another person can build an auto dealership or a casino parking lot? Can they force us to pay money into the government-run...

DETROIT - Fledgling Chinese automaker BYD Auto Co. Ltd. - a Chinese battery maker with backing for its auto venture from billionaire Warren Buffet - announced yesterday that it plans to formally enter the crowded and competitive U.S. auto market by 2011. Eyes Toledo for Plant Site

Here is video of Billionaire Warren Buffet in an interview with CNBC today saying in an interview that the U.S. Economy has "fallen off a cliff." Buffet says he has seen more drastic changes in American consumers than at any time in his lifetime. He believes the fear Americans have has changed their spending habits, and that will not be altered quickly. Buffet said the core of the problem goes back to the belief that housing prices could only go up and never down, a belief he said everyone had - including himself. Buffet said this economic disaster will end,...

In another clip from the CNBC interview today, Billionaire investor Warren Buffet said there are "too many cooks in the kitchen" in Washington, D.C., referring to too many voices speaking out on what needs to happen to turn the Economy around. Buffet likens the current crisis to an "economic Pearl Harbor," and said if it is a war then you cannot have every member of Congress planning battle strategy and then second-guessing every move that is made. But at the same time, Buffet seemed to take a shot at the Democrats and President Obama when he said that if you...

Billionaire Warren Buffett said unemployment will likely climb a lot higher depending upon how effective the nation's policies are, but he remains optimistic over the long term. Buffett said the nation's leaders need to support President Barack Obama's efforts to repair the economy because fear is dominating Americans' behavior and the economy has basically followed the worst-case scenario he envisioned. "It's fallen off a cliff," Buffett said Monday during a live appearance on CNBC. "Not only has the economy slowed down a lot, but people have really changed their habits like I haven't seen." ... He predicted that unemployment will...

After saying the economy has “fallen off a cliff,” legendary investor Warren Buffett this morning rapped political leaders for not being united enough in dealing with what he called an “economic Pearl Harbor” about six months ago. Buffett, who supported Barack Obama in the election, didn’t let Democrats skate, but he particularly singled out the GOP. “They really do have an obligation to support things that are clearly designed to fight the war in a big way,” Buffett said on CNBC’s “Squawk Box” this morning. “I think that the Republicans have an obligation to recognize this as an economic war...

Warren Buffett, the US investor dubbed the Sage of Omaha, continues to be a cheerleader for equities despite recent spectacular misjudgments on the timing of his buy and hold philosophy. In a wide ranging interview with the CNBC television todayhe insisted that over 10 years, "you will do considerably better owning a group of equities" than US treasury bonds. This echoed his comments to the New York Times in Oct­ober that he was buying US equities. Since then the Dow Jones industrial average has fallen by over 26% and more than 2,300 points as it tests lows which have not...

[VIDEO] Excerpt: Then came Warren’s big but (which is totally unrelated to Michelle Obama’s big butt): “…Job one is to win the war, the economic war. Job two is to win the economic war. And job three. And you can’t expect people to unite behind you if you’re trying to jam a whole bunch of things down their throat. So I would, I would absolutely say for the, for the interim, till we get this one solved, I would not be pushing a lot of things that are, you know, are contentious. And I also, I also would do no...

When Warren Buffett speaks, it’s usually worth paying attention. This time, the Oracle of Omaha is voicing concerns about the ability of some battered local and state governments to pay off their debts. The idea of cities and states facing insolvency is alarming for sure, and Buffett isn’t alone. Moody’s recently assigned a “negative outlook” to the creditworthiness of all the nation’s local governments. The agency has rarely made such a sweeping generalization but said the magnitude of this recession warranted the move. The comments are the latest to have shaken the once-staid world of municipal bond investing. Traditionally, muni...

Don't think that cap-and-trade legislation comes at a cost? Well, think again. In a June 9 interview on Bloomberg as the U.S. House of Representatives was considering the Waxman-Markey bill, David Sokol, chairman of Berkshire Hathaway Inc’s (NYSE:BRK.A) MidAmerican Energy Holdings and a contender to succeed Warren Buffett as Berkshire Hathaway’s CEO, explained capping carbon dioxide (CO2) would be a policy decision his industry would deal with, but trading emission credits was another matter. “Let me break it in two parts,” Sokol said. “The caps – trying to reduce CO2 by 83 percent by 2050 and then some interim steps...

When I was 14, Warren Buffett wrote me a letter. It was a response to one I’d sent him, pitching an investment idea. For a kid interested in learning stocks, Buffett was a great role model. His investing style — diligent security analysis, finding competent management, patience — was immediately appealing. Buffett was kind enough to respond to my letter, thanking me for it and inviting me to his company’s annual meeting. I was hooked. Today, Buffett remains famous for investing The Right Way. He even has a television cartoon in the works, which will groom the next generation of...

We have all heard plenty about Government Sachs but very little about BO supporter Warren Buffet. Since this WELFARE QUEEN just made another Fortune I thought you should see this. As a side note remember when Durbin said "Frankly the banks own the place?" He should know a thing or two about that on a personal level! Berkshire Hathaway Inc.'s earnings picked up sharply in the second quarter, reversing a first-quarter loss as the company rode a wave of gains in its vast stock portfolio. The Omaha, Neb., conglomerate run by Warren Buffett posted net income of $3.3 billion, or...

Arthur Laffer said-- "You can't raise taxes on the rich. These people know how to get around taxes," says Laffer. "Warren Buffett pays no taxes because all of his wealth is in unrealized capital gains. There's no tax on unrealized capital gains, so how do you get it? You have to tax poor people." LINK Warren Buffet sure talks about taxes a lot for someone who essentially doesn't pay any since the vast bulk of his wealth consists of unrealized capital gains. Appreciation of Berkshire Hathaway stock that he just sits on and never sells anyWarren Buffet lives modestly...

You might think that Warren Buffett's $34 billion bid for the rest of Burlington Northern Santa Fe ( BNI - news - people ) is the most eye-catching investment decision of the day. While the Oracle of Omaha's bullish bet on America is hardly insignificant, I would like to direct your attention half a world away and ostensibly in a different investment medium: spot gold. India's central bank bulked up that nation's gold reserves by 55% with the purchase of $6.7 billion worth of gold from the International Monetary Fund, which is selling gold reserves to raise funds for lending...

Bill Gates is known as the world’s most successful capitalist and is less famous for being the world’s biggest philanthropist.

Finally I recalled the last resort of a great princess who was told that the peasants had no bread, and who responded: Let them eat cake. -- Jean-Jacques Rousseau, 1769 According to noted economist David Rosenberg, since the multitrillion-dollar bailout of Wall Street began over a year ago, we have lost 6.2 million jobs, auto sales are down 23%, housing starts are down 30%, bank credit is down $500 billion, household net worth is down $7 trillion, and hundreds of thousands of small businesses have failed or are near failure. Yet Wall Street is booming. Bonuses on Wall Street are...

The economy has made a sharp U-turn in the past couple of months, and better days for American businesses and workers are around the corner. But don't take my word for it. Take Warren Buffett's. And Jamie Dimon's. And Jack Welch's. All three tell me that in the past four to eight weeks, they've seen a real change in their businesses, and that indicates better news for the nation's economy. They should know. Warren Buffett has been focusing on the data from BNSF Railway, which he recently acquired. At the start of the recession three years ago, Burlington Northern felt...