Well, refineries can’t be updated or new ones built due to environmentalists protests of how it will harm the environment to pump out oil in “pristine” locations – such as the Alaskan badlands where the carabu might be harmed.
Sorry, could care less about the carabu if it means keeping my family warm at a decent cost.
Recession is a self-fulfilling prophesy, I’m afraid. Keep reporting that things are bad and they, amazingly, get bad. I’m not saying stick your head in the sand, but report what’s good just as often as what’s bad.
If it bleeds it leads – good stuff is saved for the end of the newscast.
A 0.2 percent increase is not a decline… from your own article: “Economists on average have projected that gross domestic product grew at an annualized 0.2 percent rate in the quarter.”
-ski
P.S. We have not even got the first negative quarter! Warren Buffet ought to know better.
I’m still waiting for Nancy Pelosi to release her super-secret plan for reducing the price of gasoline. Things have really gone downhill since the Dems took over Congress!!
first of all, don’t blame the democrats, blame them all! why is it that we tend to blame just one side of the house or even blame BUSH! most importantly, we purchase these consumer goods from companies whom claim they need to have higher prices but yield a higher profit. look back the recent results — why do you think congress in looking into why are they profiting so much and yet, the price of gas is going up? because, they don’t want to lose that precious profit margin. personally, they would make it up with more buyers and lower costs. the biggest purchaser is the US Gov’t for the military. when was the last time you heard the gas companies let you know they are going to build a new refinery because the old ones can’t function and save money. with today’s technology, you could probably make a better product and cheaper with out a lot of waste product.
recession – if you read the article, it was not buffet that said it had to be 2 negs.
He’s not the only one with a brain. I’ve been saying we’re in a recession since last year. Writing homeowners insurance I saw people were taking out 110% loans they could not afford and paying over 50% more than a house was “worth”. I even mentioned this to some buyers; they didn’t care. So don’t bail them out – Gov’t! !
how about we start putting OUR oil in the market instead of into the strategic reserves? Time to show OPEC they’re not the only ones with the gooey black stuff underground and stop them from acting like a cartel, which they have recently realized they truly are. We need more cheaters in OPEC breaking the OPEC production caps. And don’t buy Citgo gas – it’s 100% Venezuela owned (Hugo Chavez) who always votes to decrease production.
The same way that Bush got blamed for the first recession of his administration that started two years before the Clinton Administration left office. And then there was the super stock market boom that the Clinton administration got credit for, which was artificially generated by greed in the dot.com and telecommunications boom.
Financial markets have a way of making us pay for things like lower than normal interest rates, NAFTA, and policticians losing sight that their job should involve more than re-election.
When a country like the U.S. owes huge sums to China, the day of reaconing will come and if you think this recession is bad, hold on to your hat.
The point is that Administrations, regardless of party are dealing with serious past mistakes as well as problems that crop up on the present radar screen, so it is not a political problem. Remember Jimmy Carter…..need I say more.
how can the richest man in the world be very smart if he’s a democrat?
makes no sense to make your money off the free enterprise, capitalist system and then support that party, who thinks just the opposite of the very philosophy that made him rich.
go figure.
Maybe he knows something we don’t. If the richest man in the world supports the Democratic party then the Democratic party must have something he wants that the Republican party doesn’t. It also goes to show that the Republican party is not the only party for the rich. There are many rich Democrats.
I’d say any man that can generate wealth the way he has is smart enough to learn from.
I’m sure the Democratic Party has something he wants – social relativism (no right and wrong – just what “feels” right), and he thinks people are too stupid to take care of themselves.
Not saying he’s not a financial genius, but his party affiliation has little to do with it.
Honestly, neither party stands out – they both have gone “big government.”
so, if you so set against the democrats, then are u a republican? if so, then why are you not rich!….LOL…
never put blame onto something that does not enlighten your intelligence. obviously this man is good with his money and how to spend it and still make money in the process. never place it on a political gain, because he never got it from the political process.
Who said I’m not “rich?” I just don’t have multiple billions of dollars.
Didn’t say he wasn’t smart.
No party or affiliation (legal one anyway) can make you rich. Hard work and smarts tend to do that. Government can make you poor, though (relative to where you would be if the government wouldn’t get involved).
Doesn’t matter if I agree with the politics of the person – smart folks that use their talent get what they are due. Same with stupid folks.
How are those negative audits, cuts in gross receipts and payroll working for you? Anybody insure Truckers? Commercial Agents are working on a ‘false economy’ if they are not sensitive to this issue. I suggest that Buffet is the only ‘bclub’ member that has a chance to see what is happening at the street level.
Actually I disagree with WS and DDD. Mr Buffet has already committed his riches to charities after his death. If I remember correctly, his familiy will only get a small percentage of his wealth when he dies ($5 mill a piece I think). Why would he want a recession to make billions? Like most ultra rich people (Hughes, Rockefeller, etc.), Mr B is looking to better humanity with his wealth not profit from broken dreams. Additionally a recession would probably hurt him more than it would help him considering where most of his wealth is tied to.
Someone made a comment earlier that Buffett doesn’t use politics to make his money. Unfortunately, that’s not entirely true. Buffett is a staunch advocate of the estate tax because, he claims, without it, oh you know the usual, tens of millions of children would die instantly, nobody would have health care, there wouldn’t be any roads, civilization would be set back 800 years, ad nauseam.
It’s well known that small, family-owned businesses are often forced to sell to huge companies when the business owner dies because the heirs can’t afford the estate extortion fee-oops!, I meant “tax.” Well, guess whose company has made some notable purchases of small, family owned companies when the owners died and the heirs couldn’t afford the estate tax?
Gas prices are being driven by the weak dollar. Since last year Speculators have been betting the price of oil would reach $120, which it has, and that is what is driving gas prices up, not the Arabs, not shortages, not the oil reserve and not the manipulation of the markets. Steps need to be taken to strengthen the dollar overseas then we will see a drop in gas prices and the “recession” talk will disappear. In fact I’m going to leave my desk ask accounting to start paying me in Euro’s.
Buffet is very smart with money. He is also the typical liberal. After hoarding money for himself, he wants others to sacrifice theirs for the “common good”. Why does he have to wait till he dies to be generous? And if I want to leave more of my money to my family than others, isn’t that my choice? If he thinks the government should have more money he should write a bigger check! No, instead he pays a big 4 acctg. firm more than most of our annual salaries to prepare his return. Does he pay that much and tell them to maximize his liability – I doubt it. There are definitely more rich people in the Democrat party. Buffet-type hypocrisy is what it’s built on.
I don’t know how the democrats can be blamed for this mess since they have had control of congress for 1 yr. out of the last 10 yrs. This whole problems starts with huge gov’t spending and the Republican congress and President have not even approached a balanced budget. Thus weak dollar, high oil and recession.
Actually, most of it is the results of us buying more products from other countries than we sell.
Everyone has lots of our dollars. The Chinese have fixed their Yuan to our dollar. Which makes their products cheaper than ours.
If the Yuan was adjusted to a fair value, Some products manufacturing would return and improve our ability to compete.
Secondly, we’ve dropped our interest rates to a very low level. Which means those holding our dollars can get a better rate of return by investing in Euro’s with interest rates that are double of ours.
we owe china what? if you look at all the small loans we have given other countries and then forgave the debt, this is why we are headed our direction. we keep giving money away that was not in the budget. we can’t keep a balanced budget if congress turns around and spends it. now w/the kickbacks to families from uncle sam, where’s the makeup money that the government needs? this is why this country has problems. why should i keep paying back a federal student loan, when in fact the government can forgive the $$$ from countries who owe way more than me.
you are right with one thing. politicians don’t move a muscle unless it’s re-election. look how long it took for them to say, whoa, the minimum wage needed an increase. why are they spending frivilous money on holding hearings for the use of steroids in baseball? congress is a legislative body and needs to remain that, while working for the people. baseball is a national pasttime sport, but not a national security issue. let the sport handle it’s own business. i have not heard that congress owns a ball team yet!
If you want to blame democrats for a lack of a good solution, go ahead but let’s also put the blame where it ought to be; we’ve got TWO oil men in the executive office, neither of whom will ever feel the pain of $4.00 a gallon gasoline…oh them silly republicans! They are just too DAMN nice to actually run the country into the ground; wait until the shoe is on the other foot; who you gonna blame then?
I love it when I hear comments like yours. You probably voted for those who brought us the tax cuts; as if a lower capital gains tax actually helps anyone except the rich. Know how they did that, they appealled to the middle class; who would not want to benefit, if it is only the middle class….unfortumnately, most of us are MIDDLE INCOME maybe but not middle class; the middle class is just below the UPPER CRUST. no one want to admit that they are not middle class, so we go along with tax cuts so that the government can’t pay it’s bills….and who is the government, after all, but us? I doubt if most people really think this stuff through. that little $300 check I got in 2001 did not make a damn bit of difference in my daily life but it sure did put a hole in the US Treasury…and you think Warren Buffet doesn’t know more than you? At least he’s making money…..regardless of who is in the White House…
A couple of thoughts
1. I don’t think that Warren breathes without thinking it through so his comments reflect his desire to make money in good times or bad.
2. His allegiance to the Demos could be nothing more than a relfection of his prairie populism as he could control either party if he really wanted-look no further than the effect George Soros has had on the Demos over the last 2 elections
3. The Republicans and Democrats aren’t really to blame for the economy-if they “broke” it, then they could “fix” it just as easily-why take the heat otherwise?
What has been broken is any sense of fiscal discipline on the part of Gov’t. Every $ they take in is a $ which can’t be used by individuals or businesses. To the degree each are beholden to their own constituents special interests-and they are all by the way, then Gov’t acts inefficiently.
It might be fun to freeze all Gov’t budgets at current levels-no indexing for inflation for the next 5 years and then see how the economy takes off-a lot of fat will be forced out of the system as at 1st the politicians try and save their “pet projects” at the expense of national defense, roads bridges fire and police services. Once people really see how their tax $ are mispent-see the b ridge to nowhere obscene pensions to gov’t workers or political commisisons of dubious worth-for instance did you know that the state of Illinois, Cook County Illinois and the City of Chicago all have Human Rights Commissions with a director, staffs and budgets. Pretty amazing stuff for a midwestern state struggling to grow econocially for its citizens, eh?
Then and only then will Gov’t “fix” what has been broken.
The tax cuts did not reduce govt revenues-they went through the roof! Revenues were the highest in history. This happens any time you cut taxes because people (and whether you like it or not, the rich are the ones who can do more of this)have more money to use to make — more money!! And when rates are lower, people are more likely to report all of their income and thereby pay more taxes!! The $300 2001 stimulus, like this year’s stimulus, is the govt giving you back your own money!! If you will get a refund in 2008, it will be less the stimulus check. They are not sending out money they don’t already owe you. There is a hole in the treasury because the govt spends more than it takes in. And that is something I have been extremely critical of my party about. In fact, I am not giving them any money this cycle. It is amazing that any mention of cutting spending has become foreign in DC. Now, if you want to cut a tax, you have to find something else to raise to keep the pie whole. We need to make the pie smaller! Re-reading the limited federal powers in the constitution is a start.
Again, I never said Buffet is not smart, just hypocritical (as are Bill Gates Sr, and all the rich people in Hollywood). If they feel the govt should get a bigger share, all they need to do is send in more of their own money and leave mine alone!
Just visited a buddy in Modesto. Too many toys in driveways, each with 2 waverunners, dirt bikes, big crew cab 4WD diesel, tinted lexus for the exercise partner, and so on. Go inside to check out the 72 inch bigscreen and lizard leather sectional (say that five times).
People have used credit to overextend themselves, sometimes not good credit. Not to mention the trophy house. Not the good old days when you started with a tiny fixer starter, then worked your way up. No, zero to $400K. In a capitalist society, adjustments happen. Those not prepared learn a lesson. Those prepared make money. Was it Warren Buffett who said ‘when a man with money meets a man with experience, the man with the money gets the experience, and the man with experience gets the money’? Well, he should have.
The president and vice president can not cause the economy to go into recession. So many other factors are involved such as the whining liberals MAKING banks loan to the Poor who can NOT afford the loan by falsifying their income and NOW coming back saying they did not understand and want to be relieved of the obligation. I say SCREW them. Pay every dime like the rest of us have to do. Why should you get relief from speculating on homes you never could have afforded but bought with bull crap stated income loans? The govt does not owe these liberals a free ride and I do NOT want to pay for it. Now the banks are penalizing everyone else to payoff the debt the liberals can not and to not have to pay.
Hillary, if you want to loan to the poor, use your cash and see how that works. Want to pay more taxes, feel free to do so. I do not need liberal democrats to manage my money by taking all of it and providing healthcare. Those who do not pay for healthcare do not pay for auto insurance as they are judgment proof. That is why the rest of us “producers” have to pay for those watching Andy Griffith all day.
Damn libs, manage your money and stay the hell out of mine.
I didn’t realize that only liberals mismanaged their funds. I also didn’t realize that liberals ran all the banks that gave out crappy loans. It makes so much sense now! Conservatives simply turned all of those people who couldn’t afford the loans away.
FYI, I don’t think we should bail out the banks or the poor, liberal or not. I was simply drawing a point to your rant. It is not all the liberals fault. I am sure some of those poor people vote republican too. But I am sure it is easier to think that it is all the other party’s fault. Makes sleeping at night that much easier.
Stated income loans are not only made to liberals. As a matter of fact they are mostly for the selfemployed which tend to be fiscally conservative. I don’t understand why so many here blame EVERYTHING on liberals.
I have met Warren Buffett in person; he’s actually a nice guy and remarkably down to earth for a multi-billionaire.
I actually hit him up for a few million in pocket change as if I was asking for a quarter to make a phone call. He just chuckled.
Now financial issues aside, he is one of the most intelligent men I have ever met. That being said, I now believe it’s more of a “book smart” since he backed Hillary.
8^b
I watched a program on CNBC last night at the gym that had Warren Buffet’s children as guests. They were very down-to-earth and normal people. Still millionaires I’m sure, but they didn’t come off with the sense of entitlement one might expect. They all said that Buffet is one of the most kind, witty and normal people you could meet.
Well, refineries can’t be updated or new ones built due to environmentalists protests of how it will harm the environment to pump out oil in “pristine” locations – such as the Alaskan badlands where the carabu might be harmed.
Sorry, could care less about the carabu if it means keeping my family warm at a decent cost.
Recession is a self-fulfilling prophesy, I’m afraid. Keep reporting that things are bad and they, amazingly, get bad. I’m not saying stick your head in the sand, but report what’s good just as often as what’s bad.
If it bleeds it leads – good stuff is saved for the end of the newscast.
A 0.2 percent increase is not a decline… from your own article: “Economists on average have projected that gross domestic product grew at an annualized 0.2 percent rate in the quarter.”
-ski
P.S. We have not even got the first negative quarter! Warren Buffet ought to know better.
I’m still waiting for Nancy Pelosi to release her super-secret plan for reducing the price of gasoline. Things have really gone downhill since the Dems took over Congress!!
first of all, don’t blame the democrats, blame them all! why is it that we tend to blame just one side of the house or even blame BUSH! most importantly, we purchase these consumer goods from companies whom claim they need to have higher prices but yield a higher profit. look back the recent results — why do you think congress in looking into why are they profiting so much and yet, the price of gas is going up? because, they don’t want to lose that precious profit margin. personally, they would make it up with more buyers and lower costs. the biggest purchaser is the US Gov’t for the military. when was the last time you heard the gas companies let you know they are going to build a new refinery because the old ones can’t function and save money. with today’s technology, you could probably make a better product and cheaper with out a lot of waste product.
recession – if you read the article, it was not buffet that said it had to be 2 negs.
I’m gonna call my boy Warren B and get a stick of gum.
No one party is to blame, they are the same in many ways. They protect those who help them.
He’s not the only one with a brain. I’ve been saying we’re in a recession since last year. Writing homeowners insurance I saw people were taking out 110% loans they could not afford and paying over 50% more than a house was “worth”. I even mentioned this to some buyers; they didn’t care. So don’t bail them out – Gov’t! !
how about we start putting OUR oil in the market instead of into the strategic reserves? Time to show OPEC they’re not the only ones with the gooey black stuff underground and stop them from acting like a cartel, which they have recently realized they truly are. We need more cheaters in OPEC breaking the OPEC production caps. And don’t buy Citgo gas – it’s 100% Venezuela owned (Hugo Chavez) who always votes to decrease production.
The same way that Bush got blamed for the first recession of his administration that started two years before the Clinton Administration left office. And then there was the super stock market boom that the Clinton administration got credit for, which was artificially generated by greed in the dot.com and telecommunications boom.
Financial markets have a way of making us pay for things like lower than normal interest rates, NAFTA, and policticians losing sight that their job should involve more than re-election.
When a country like the U.S. owes huge sums to China, the day of reaconing will come and if you think this recession is bad, hold on to your hat.
The point is that Administrations, regardless of party are dealing with serious past mistakes as well as problems that crop up on the present radar screen, so it is not a political problem. Remember Jimmy Carter…..need I say more.
Quite frankly, when the Oracle of Omaha speaks I think we would be wise to listen. The man knows money better than anyone else on the planet.
how can the richest man in the world be very smart if he’s a democrat?
makes no sense to make your money off the free enterprise, capitalist system and then support that party, who thinks just the opposite of the very philosophy that made him rich.
go figure.
Maybe he knows something we don’t. If the richest man in the world supports the Democratic party then the Democratic party must have something he wants that the Republican party doesn’t. It also goes to show that the Republican party is not the only party for the rich. There are many rich Democrats.
I’d say any man that can generate wealth the way he has is smart enough to learn from.
I’m sure the Democratic Party has something he wants – social relativism (no right and wrong – just what “feels” right), and he thinks people are too stupid to take care of themselves.
Not saying he’s not a financial genius, but his party affiliation has little to do with it.
Honestly, neither party stands out – they both have gone “big government.”
so, if you so set against the democrats, then are u a republican? if so, then why are you not rich!….LOL…
never put blame onto something that does not enlighten your intelligence. obviously this man is good with his money and how to spend it and still make money in the process. never place it on a political gain, because he never got it from the political process.
Who said I’m not “rich?” I just don’t have multiple billions of dollars.
Didn’t say he wasn’t smart.
No party or affiliation (legal one anyway) can make you rich. Hard work and smarts tend to do that. Government can make you poor, though (relative to where you would be if the government wouldn’t get involved).
Doesn’t matter if I agree with the politics of the person – smart folks that use their talent get what they are due. Same with stupid folks.
He can buy & sell either party. At his level some of the finacial ramifications of either party are a non issue.
Agreed both parties are the same and third parties are not a force on the national level.
Rememember we all do not be of the same political beliefs to prosper.
He’s smart enough to drive down the market with these comments and then move in with his billions to make a few more.
Thats the truth WS. I think you hit the nail on the head.
How are those negative audits, cuts in gross receipts and payroll working for you? Anybody insure Truckers? Commercial Agents are working on a ‘false economy’ if they are not sensitive to this issue. I suggest that Buffet is the only ‘bclub’ member that has a chance to see what is happening at the street level.
Actually I disagree with WS and DDD. Mr Buffet has already committed his riches to charities after his death. If I remember correctly, his familiy will only get a small percentage of his wealth when he dies ($5 mill a piece I think). Why would he want a recession to make billions? Like most ultra rich people (Hughes, Rockefeller, etc.), Mr B is looking to better humanity with his wealth not profit from broken dreams. Additionally a recession would probably hurt him more than it would help him considering where most of his wealth is tied to.
Someone made a comment earlier that Buffett doesn’t use politics to make his money. Unfortunately, that’s not entirely true. Buffett is a staunch advocate of the estate tax because, he claims, without it, oh you know the usual, tens of millions of children would die instantly, nobody would have health care, there wouldn’t be any roads, civilization would be set back 800 years, ad nauseam.
It’s well known that small, family-owned businesses are often forced to sell to huge companies when the business owner dies because the heirs can’t afford the estate extortion fee-oops!, I meant “tax.” Well, guess whose company has made some notable purchases of small, family owned companies when the owners died and the heirs couldn’t afford the estate tax?
Gas prices are being driven by the weak dollar. Since last year Speculators have been betting the price of oil would reach $120, which it has, and that is what is driving gas prices up, not the Arabs, not shortages, not the oil reserve and not the manipulation of the markets. Steps need to be taken to strengthen the dollar overseas then we will see a drop in gas prices and the “recession” talk will disappear. In fact I’m going to leave my desk ask accounting to start paying me in Euro’s.
Buffet is very smart with money. He is also the typical liberal. After hoarding money for himself, he wants others to sacrifice theirs for the “common good”. Why does he have to wait till he dies to be generous? And if I want to leave more of my money to my family than others, isn’t that my choice? If he thinks the government should have more money he should write a bigger check! No, instead he pays a big 4 acctg. firm more than most of our annual salaries to prepare his return. Does he pay that much and tell them to maximize his liability – I doubt it. There are definitely more rich people in the Democrat party. Buffet-type hypocrisy is what it’s built on.
I agree. Buffet should send out a rebate check to citizen in the US!
That way he doesn’t have to dole it out in drips.
also, It may avert a recession.
Buffet’s just grumpy cause nearly all of his businesses are affected by the housing slow down.
I don’t know how the democrats can be blamed for this mess since they have had control of congress for 1 yr. out of the last 10 yrs. This whole problems starts with huge gov’t spending and the Republican congress and President have not even approached a balanced budget. Thus weak dollar, high oil and recession.
Actually, most of it is the results of us buying more products from other countries than we sell.
Everyone has lots of our dollars. The Chinese have fixed their Yuan to our dollar. Which makes their products cheaper than ours.
If the Yuan was adjusted to a fair value, Some products manufacturing would return and improve our ability to compete.
Secondly, we’ve dropped our interest rates to a very low level. Which means those holding our dollars can get a better rate of return by investing in Euro’s with interest rates that are double of ours.
we owe china what? if you look at all the small loans we have given other countries and then forgave the debt, this is why we are headed our direction. we keep giving money away that was not in the budget. we can’t keep a balanced budget if congress turns around and spends it. now w/the kickbacks to families from uncle sam, where’s the makeup money that the government needs? this is why this country has problems. why should i keep paying back a federal student loan, when in fact the government can forgive the $$$ from countries who owe way more than me.
you are right with one thing. politicians don’t move a muscle unless it’s re-election. look how long it took for them to say, whoa, the minimum wage needed an increase. why are they spending frivilous money on holding hearings for the use of steroids in baseball? congress is a legislative body and needs to remain that, while working for the people. baseball is a national pasttime sport, but not a national security issue. let the sport handle it’s own business. i have not heard that congress owns a ball team yet!
If you want to blame democrats for a lack of a good solution, go ahead but let’s also put the blame where it ought to be; we’ve got TWO oil men in the executive office, neither of whom will ever feel the pain of $4.00 a gallon gasoline…oh them silly republicans! They are just too DAMN nice to actually run the country into the ground; wait until the shoe is on the other foot; who you gonna blame then?
I love it when I hear comments like yours. You probably voted for those who brought us the tax cuts; as if a lower capital gains tax actually helps anyone except the rich. Know how they did that, they appealled to the middle class; who would not want to benefit, if it is only the middle class….unfortumnately, most of us are MIDDLE INCOME maybe but not middle class; the middle class is just below the UPPER CRUST. no one want to admit that they are not middle class, so we go along with tax cuts so that the government can’t pay it’s bills….and who is the government, after all, but us? I doubt if most people really think this stuff through. that little $300 check I got in 2001 did not make a damn bit of difference in my daily life but it sure did put a hole in the US Treasury…and you think Warren Buffet doesn’t know more than you? At least he’s making money…..regardless of who is in the White House…
A couple of thoughts
1. I don’t think that Warren breathes without thinking it through so his comments reflect his desire to make money in good times or bad.
2. His allegiance to the Demos could be nothing more than a relfection of his prairie populism as he could control either party if he really wanted-look no further than the effect George Soros has had on the Demos over the last 2 elections
3. The Republicans and Democrats aren’t really to blame for the economy-if they “broke” it, then they could “fix” it just as easily-why take the heat otherwise?
What has been broken is any sense of fiscal discipline on the part of Gov’t. Every $ they take in is a $ which can’t be used by individuals or businesses. To the degree each are beholden to their own constituents special interests-and they are all by the way, then Gov’t acts inefficiently.
It might be fun to freeze all Gov’t budgets at current levels-no indexing for inflation for the next 5 years and then see how the economy takes off-a lot of fat will be forced out of the system as at 1st the politicians try and save their “pet projects” at the expense of national defense, roads bridges fire and police services. Once people really see how their tax $ are mispent-see the b ridge to nowhere obscene pensions to gov’t workers or political commisisons of dubious worth-for instance did you know that the state of Illinois, Cook County Illinois and the City of Chicago all have Human Rights Commissions with a director, staffs and budgets. Pretty amazing stuff for a midwestern state struggling to grow econocially for its citizens, eh?
Then and only then will Gov’t “fix” what has been broken.
The tax cuts did not reduce govt revenues-they went through the roof! Revenues were the highest in history. This happens any time you cut taxes because people (and whether you like it or not, the rich are the ones who can do more of this)have more money to use to make — more money!! And when rates are lower, people are more likely to report all of their income and thereby pay more taxes!! The $300 2001 stimulus, like this year’s stimulus, is the govt giving you back your own money!! If you will get a refund in 2008, it will be less the stimulus check. They are not sending out money they don’t already owe you. There is a hole in the treasury because the govt spends more than it takes in. And that is something I have been extremely critical of my party about. In fact, I am not giving them any money this cycle. It is amazing that any mention of cutting spending has become foreign in DC. Now, if you want to cut a tax, you have to find something else to raise to keep the pie whole. We need to make the pie smaller! Re-reading the limited federal powers in the constitution is a start.
Again, I never said Buffet is not smart, just hypocritical (as are Bill Gates Sr, and all the rich people in Hollywood). If they feel the govt should get a bigger share, all they need to do is send in more of their own money and leave mine alone!
You obviously have your head up your a*s.
The “Two Oil Men” in office have nothing to do with manipulating the cost of oil.
Go back to sleep commie
Just visited a buddy in Modesto. Too many toys in driveways, each with 2 waverunners, dirt bikes, big crew cab 4WD diesel, tinted lexus for the exercise partner, and so on. Go inside to check out the 72 inch bigscreen and lizard leather sectional (say that five times).
People have used credit to overextend themselves, sometimes not good credit. Not to mention the trophy house. Not the good old days when you started with a tiny fixer starter, then worked your way up. No, zero to $400K. In a capitalist society, adjustments happen. Those not prepared learn a lesson. Those prepared make money. Was it Warren Buffett who said ‘when a man with money meets a man with experience, the man with the money gets the experience, and the man with experience gets the money’? Well, he should have.
The president and vice president can not cause the economy to go into recession. So many other factors are involved such as the whining liberals MAKING banks loan to the Poor who can NOT afford the loan by falsifying their income and NOW coming back saying they did not understand and want to be relieved of the obligation. I say SCREW them. Pay every dime like the rest of us have to do. Why should you get relief from speculating on homes you never could have afforded but bought with bull crap stated income loans? The govt does not owe these liberals a free ride and I do NOT want to pay for it. Now the banks are penalizing everyone else to payoff the debt the liberals can not and to not have to pay.
Hillary, if you want to loan to the poor, use your cash and see how that works. Want to pay more taxes, feel free to do so. I do not need liberal democrats to manage my money by taking all of it and providing healthcare. Those who do not pay for healthcare do not pay for auto insurance as they are judgment proof. That is why the rest of us “producers” have to pay for those watching Andy Griffith all day.
Damn libs, manage your money and stay the hell out of mine.
I didn’t realize that only liberals mismanaged their funds. I also didn’t realize that liberals ran all the banks that gave out crappy loans. It makes so much sense now! Conservatives simply turned all of those people who couldn’t afford the loans away.
FYI, I don’t think we should bail out the banks or the poor, liberal or not. I was simply drawing a point to your rant. It is not all the liberals fault. I am sure some of those poor people vote republican too. But I am sure it is easier to think that it is all the other party’s fault. Makes sleeping at night that much easier.
Stated income loans are not only made to liberals. As a matter of fact they are mostly for the selfemployed which tend to be fiscally conservative. I don’t understand why so many here blame EVERYTHING on liberals.
I have met Warren Buffett in person; he’s actually a nice guy and remarkably down to earth for a multi-billionaire.
I actually hit him up for a few million in pocket change as if I was asking for a quarter to make a phone call. He just chuckled.
Now financial issues aside, he is one of the most intelligent men I have ever met. That being said, I now believe it’s more of a “book smart” since he backed Hillary.
8^b
I watched a program on CNBC last night at the gym that had Warren Buffet’s children as guests. They were very down-to-earth and normal people. Still millionaires I’m sure, but they didn’t come off with the sense of entitlement one might expect. They all said that Buffet is one of the most kind, witty and normal people you could meet.