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George W. Bush uttered 'the 10 most important words in the history of economics' during the 2008 financial crisis, Warren Buffett says — here's how they now apply in 2024
moneywise ^ | 07/30/2024 | Vishesh Raisinghani

Posted on 07/30/2024 12:50:46 PM PDT by ChicagoConservative27

Instead of quoting a historical figure like Adam Smith, Daniel Kahneman or John Maynard Keynes, legendary investor Warren Buffett believes the most consequential words on modern economics came from a surprising source: former U.S. President George W. Bush.

At the height of the 2008 financial crisis, Bush said: “If money isn’t loosened up, this sucker could go down!”

Buffett deemed this quip “the 10 most important words in the history of economics,” he told billionaire Dan Gilbert during an interview at the Detroit Homecoming event at the College for Creative Studies in 2014.

Here’s why Buffett believes these words had such a great impact on the global economy.


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: 2008; adamsmith; bailouts; bush; dangilbert; danielkahneman; financial; georgewbush; johnmaynardkeynes; tarp; toobigtofail; visheshraisinghani; warrenbuffett; words
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Bush's second term was a complete joke. "Too big to fail"
1 posted on 07/30/2024 12:50:46 PM PDT by ChicagoConservative27
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To: ChicagoConservative27

So eloquently spoken by bush the monkey


2 posted on 07/30/2024 12:51:52 PM PDT by NWFree (Somebody has to say it 🤪)
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To: ChicagoConservative27

Wasn’t 2008 the year that Bush sold our future down the drain (a torch picked up by Obama in transition) by approving trillions in spending on ‘economic (un) stimulus act’, ‘too big to fail’ bailouts, ‘shovel ready’ spending that never bought a single shovel?

Yeah. Brilliant! /S


3 posted on 07/30/2024 12:56:35 PM PDT by z3n (Kakistocracy)
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To: ChicagoConservative27

They’ve been trying to “correct” a crisis every few year; eventually, we will have the Mother Of All Crises which will dwarf all previous ones.


4 posted on 07/30/2024 12:57:30 PM PDT by PghBaldy (12/14/12 - 930am -rampage begins... 12/15/12 - 1030am - Obama team scouts photo-op locations.)
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To: ChicagoConservative27

I remember this Bushism...

I had to abandon free market principles in order to save the free market system.


5 posted on 07/30/2024 1:05:35 PM PDT by Responsibility2nd (2 coups in less than 4 years. America is truly a first world Banana Republic.)
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To: ChicagoConservative27

George W. Bush: “Islam is peace.”

That one statement set the tone for the destruction of Western civilization. Don’t handle murderous, radical Islam the way FDR handled fascism. Instead excuse it.

We needed another FDR. We got a campfire singer.


6 posted on 07/30/2024 1:06:18 PM PDT by Leaning Right (The steal is real.)
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To: ChicagoConservative27

I don’t recall him making that comment. I’m sure he did.
What I most recall about 2008, late summer, is that the press were already consulting Barrack Obama about these issues, and doing so in a serious manner, as if he were already president. I don’t think McCain got the same treatment, not before he suspended his campaign in some kind of panic.


7 posted on 07/30/2024 1:07:56 PM PDT by lee martell
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To: Leaning Right

W laid down with Saudi dogs—and he got fleas.


8 posted on 07/30/2024 1:08:36 PM PDT by cgbg ("Our democracy" = Their Kleptocracy)
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To: ChicagoConservative27

They loosened it all right. And now there is soon to be a nuclear financial explosion.


9 posted on 07/30/2024 1:09:06 PM PDT by Revel
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To: NWFree
It's amazing that this country has survived from when
Columbus sailed the ocean blue in 1492. Two world wars
a civil war in the mid 1800s, a couple of world wars, and
a few conflicts of lesser degrees. Life goes on it would
be interesting to see what is like a couple hundred years
into the future. They've been to the moon, explored a bit
so who knows what the next couple hundred years will be.
My ashes will be dissolved and gone by then.
10 posted on 07/30/2024 1:09:39 PM PDT by deport
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To: lee martell

McCain was stunned when his beloved mass media started stabbing him in the back—over and over and over and over again....

What an idiot he was.


11 posted on 07/30/2024 1:10:18 PM PDT by cgbg ("Our democracy" = Their Kleptocracy)
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To: ChicagoConservative27

When Lehman brothers got in trouble, GW sent Jeb, who was working for Lehman, to Mexico to ask Carlos Slim Helu if he should bail them out.
George Bush, like Joe Biden did exactly what his oligarch handlers told him to do.

https://towncriernews.blogspot.com/2020/08/who-pulls-democrat-strings-who-is.html?m=1


12 posted on 07/30/2024 1:11:12 PM PDT by AuntB (Trump is our Ben Franklin - Brilliant, Boisterous, Brave and ALL AMERICAN!)
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To: Responsibility2nd

Bush bailed out wealthy companies like AIG, Goldman Sachs and Merrill Lynch who then proceeded to pay their execs, and there were many of them, multimillion dollar bonuses at taxpayer expense and for what?? Wouldn’t happen for the storeowner who is losing his shirt or the coal miner losing his job. And the only one they put in prison was Martha Stewart.


13 posted on 07/30/2024 1:11:57 PM PDT by laconic ( )
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To: ChicagoConservative27

Buffett is a DemocRat. Bush was Reagan’s biggest mistake. Farhering Bush II was one of Bush’s biggest mistake.
Marrying Barbara Bush was another. The Bushes are blood brothers to the RINO establishment.


14 posted on 07/30/2024 1:14:33 PM PDT by ZULU (Remember: ABBEY GATE, Kate Steinle, Joscelyn Nungary, Rachel Morin and Laken Riley. )
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To: Leaning Right

“We needed another FDR.”

One of his first acts was to slash military and veterans budgets.


15 posted on 07/30/2024 1:14:40 PM PDT by TexasGator
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To: cgbg

John McCain was the Media’s favorite Republican for years and years. That ‘bipartisanship’ was his gimmick, what made him special and valuable. That’s why he never went whole hog and switched parties. If McCain had ever officially become the card carrying Democrat he acted like, he would not be unique anymore. Back then, there were still a few hawkish Dems around. Chris Christie also enjoyed/ enjoys that dual relationship with the media, albeit on a lesser scale.


16 posted on 07/30/2024 1:15:26 PM PDT by lee martell
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To: ZULU

~Gasp~ Now how can you say these mean things about Bill Clinton’s good friend?

/sarc


17 posted on 07/30/2024 1:17:48 PM PDT by Responsibility2nd (2 coups in less than 4 years. America is truly a first world Banana Republic.)
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To: laconic

Most of the QE is BO’s doing. Bush opened the door. Obama marched a generation through the door


18 posted on 07/30/2024 1:18:35 PM PDT by SteelPSUGOP (UGHT)
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To: Leaning Right

“We needed another FDR.”

FDR was unhappy with a conservative USSC so came up with a court packing plan that was rejected by congress. He did, however, appoint seven new justices moving the USSC to a civil rights agenda.


19 posted on 07/30/2024 1:20:22 PM PDT by TexasGator
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To: TexasGator

> One of his first acts was to slash military and veterans budgets. <

Yes, FDR was a terrible president, domestically. He’s responsible for much of the bloated federal government we have today.

But he was absolutely amazing as a wartime president. He did darn near everything right. As just one example, he set the overall strategy but let the generals and admirals carry things out.

Contrast that with LBJ and Bush II. They and their civilian pals interfered in everything, constantly.


20 posted on 07/30/2024 1:21:43 PM PDT by Leaning Right (The steal is real.)
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