Free Republic
Browse · Search
News/Activism
Topics · Post Article

This thread has been locked, it will not receive new replies.
Locked on 01/18/2009 7:10:50 PM PST by Sidebar Moderator, reason:

Duplicate: http://www.freerepublic.com/focus/f-news/2167160/posts



Skip to comments.

Buffett says in NBC interview that US is in 'economic Pearl Harbor'
AP / Yahoo News ^ | Sunday January 18, 8:00 pm ET | Timberly Ross, Associated Press Writer

Posted on 01/18/2009 6:34:32 PM PST by gpk9

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.

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.

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.

He predicted that Obama will be able to convey the severity of the economic situation to the American people and explain their part in alleviating it.

As to how long the crisis would continue, Buffett said he didn't know.

"It's never paid to bet against America," he said. "We come through things, but its not always a smooth ride."

Omaha-based Berkshire owns a diverse mix of more than 60 companies, including insurance, furniture, carpet, jewelry, restaurants and utility businesses. And it has major investments in such companies as Wells Fargo & Co. and Coca-Cola Co.

(Excerpt) Read more at biz.yahoo.com ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: 111th; bhoeconomy; buffett; duplicate
Navigation: use the links below to view more comments.
first previous 1-2021-27 last
To: gpk9

“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.”

Barf. Break out the knee-pads, everyone.

“He predicted that Obama will be able to convey the severity of the economic situation to the American people and explain their part in alleviating it.”

Barf (redux). The “0bama is Reagan (The Great Communicator)” talking point.


21 posted on 01/18/2009 6:51:49 PM PST by DemforBush (Somebody wake me when sanity has returned to the nation.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: the invisib1e hand

I think we’re screwed.


22 posted on 01/18/2009 6:52:05 PM PST by kewlhandluke2
[ Post Reply | Private Reply | To 20 | View Replies]

To: xcamel

Buffett is talking down, sucking up, and drooling to reap the benefits of bailouts.


I dunno. What’s the point for a guy as old and rich as Buffet? What’s the practical difference of $10B more for a 78 year old man worth $30B? In fact, he just gave away a few billion to the Gates foundation. You’d think a guy like him would just call it has he sees it.


23 posted on 01/18/2009 6:58:36 PM PST by rbg81 (DRAIN THE SWAMP!!)
[ Post Reply | Private Reply | To 6 | View Replies]

To: gpk9

“He predicted that Obama will be able to convey the severity of the economic situation to the American people and explain their part in alleviating it.”

Explain = why taxes higher, why there aren’t any groceries, why you can’t run your heater/air conditioner, drive your car, hunt, fish, own a gun, home-school.... and all that. Our part will be to do without and join a “volunteer” work unit. Maybe that’s where all that “employment” comes in. Citizens will carry buckets of dirt to build dams and roads.


24 posted on 01/18/2009 7:00:49 PM PST by Bhoy
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam

If we’re in an economic Pearl Harbor as Buffett claims, then he was flying one of the bombers on behalf of team Oba Mao.


25 posted on 01/18/2009 7:04:30 PM PST by Vigilanteman (Are there any men left in Washington? Or, are there only cowards? Ahmad Shah Massoud)
[ Post Reply | Private Reply | To 3 | View Replies]

To: gpk9
Billionaire investor Warren Buffett says the U.S. is engaged in an "economic Pearl Harbor."

Except unlike the "day that will live in infamy," this twenty-first century Pearl Harbor is wholly self-inflicted.

26 posted on 01/18/2009 7:05:26 PM PST by rabscuttle385 ("If this be treason, then make the most of it!" —Patrick Henry)
[ Post Reply | Private Reply | To 1 | View Replies]

To: BGHater

“I’m sure this will help the markets overseas and on Tuesday for us. /s”

isn’t this the program they have been fueling for several years?? Drive it down and blame the Republicans! It always works.


27 posted on 01/18/2009 7:07:07 PM PST by elpadre (nation)
[ Post Reply | Private Reply | To 9 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-27 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson