Buffett Speaks... You better listen

[wolfpackpilot]

http://news.yahoo.com/s/nm/20080524/bs_nm/buffett_us_recession_dchttp://news.yahoo.com/s/nm/20080524/bs_nm/buffett_us_recession_dc

 

[F/O]

The "Oracle" has more common sense than the idiot in the White House ever will. Make no mistake---whether or not the economic situation meets the technical definition of a recession or not, our economy is getting HAMMERED. A lot of things we are seeing are things we have never seen before, like record oil prices, record food prices, record devaluation of our currency, record government borrowing, and record devaluation of people's homes. This could turn out more like "your grandfather's depression" than "your father's recession" ...

 

[gunfyter]

Spoken like someone who never lived through Jimmy Carter....

 

[pilotyip]

82 was worse

The "Oracle" has more common sense than the idiot in the White House ever will. Make no mistake---whether or not the economic situation meets the technical definition of a recession or not, our economy is getting HAMMERED. A lot of things we are seeing are things we have never seen before, like record oil prices, record food prices, record devaluation of our currency, record government borrowing, and record devaluation of people's homes. This could turn out more like "your grandfather's depression" than "your father's recession" ...

following Jimmy's tour of duty, unemployment 10%, inflation 20%, oil prices doubled in a year, houses dropped 30% in value, and worst of all I was unemployed.

 

[gunfyter]

Don't forget the double digit Mortgage Interest rates!

By the way... You think there is pain at the pump now... and there is... Today people spend about 9% of disposable income on gas. During jimmy Carter that was 13%.

But we also had the good deal of having hundreds of American hostages held in Iran. Try that today AmadinaCrap...

 

[jmreii]

when everything is said and done it will be worse then anything that Jimmy Carter's era could have ever dream up. Enjoy the middle-class slide to poverty and third world class.

 

[pilotyip]

Negative vibes

when everything is said and done it will be worse then anything that Jimmy Carter's era could have ever dream up. Enjoy the middle-class slide to poverty and third world class.

No you are wrong, you most likely would have said the same thing in 1982. The US has prospered like few countries since 1982. The stock market is up 1000%, more people own homes, and this is still greatest country in the world. Our individual freedoms to pursue anything we want, will allow us to over come this. Veterans granted this freedom, and that is why we have a three-day weekend today. BTW Is the US the only country in the world where you can be in poverty and be obese at the same time?

 

[F/O]

You are blaming Carter for the post-Vietnam hangover that had origins with LBJ and Nixon. Are you going to blame McCain or Obama for the POS that Bush has left us? Why not just start blaming them now, 4 years in advance of 2012?

 

[FLYLOW22]

You are blaming Carter for the post-Vietnam hangover that had origins with LBJ and Nixon. Are you going to blame McCain or Obama for the POS that Bush has left us? Why not just start blaming them now, 4 years in advance of 2012?

It's actually your fault.

 

[Sky Captain]

You are blaming Carter for the post-Vietnam hangover that had origins with LBJ and Nixon. Are you going to blame McCain or Obama for the POS that Bush has left us? Why not just start blaming them now, 4 years in advance of 2012?

Sad irony. Post Vietnam recession/inflation then, continued Iraq recession/inflation now.

 

[blzr]

when everything is said and done it will be worse then anything that Jimmy Carter's era could have ever dream up. Enjoy the middle-class slide to poverty and third world class.

Anyone can make Any kind of prediction about how they think something will turn out in the future. We are in a corrective cycle right now. The housing market was a huge bubble like tech stocks in the late 90's, and it will come back too.

Oil, who knows. We, as a country are like the parents of a college student with a full ride scholarship to "ABC" university, but the parents wanted him/her to go to "xyz" college instead and are crying about tuition prices.

We are sitting on top of oil now and are crying because the oil producing countries are not giving us more.

Also, Nixon stared the extraction of troops from Viet Nam, a war LBJ pretty much got us into in the first place. Carter is and was and will always be a big festering wound on the ass of America.

Oh, what is the current unemployment rate? interest rate? things arent rosey, but they could be alot worse. Lighten up.

 

[Cobra]

Don't forget the double digit Mortgage Interest rates!

By the way... You think there is pain at the pump now... and there is... Today people spend about 9% of disposable income on gas. During jimmy Carter that was 13%.

But we also had the good deal of having hundreds of American hostages held in Iran. Try that today AmadinaCrap...

Let's see. In the seventies most people could have a car maybe two. A house. Vacation money. And Mom got to stay home with the kids. Try that with today's wages.

I guess you subscribe to Neil Cavuto's 70s voodoo inflationary BS talk? I bet my paycheck I am dead on the spot.

 

[gunfyter]

You are dead on?

Might want to check the stats on home ownership and car ownership per capita in the US. 70's vs today.

We are still benefiting from the Reagan Recovery after the Carter Stagflation.

 

[HalinTexas]

My wife and I have been unemployed for almost two months. We don't blame anyone but the employer that put us there. And myself for believing that ATA could pull it out.

I'm about to take another 25-30% hit on top of the 50% I took in 2005 to start all over at another carrier. (I did get back up to what I was making in 2002 before I upgraded.) But at least I'll be a captain again! She's retired from the airline biz. On to better things.

I'm still thankful for what I've got.

You can blame whoever you want, but the president and the congress have to work together to affect anything in the economy. Bernanke, however, should have raised rates long ago, before the bubble burst.

 

[pilotyip]

stop it!

Anyone can make Any kind of prediction about how they think something will turn out in the future. We are in a corrective cycle right now. The housing market was a huge bubble like tech stocks in the late 90's, and it will come back too.

Oil, who knows. We, as a country are like the parents of a college student with a full ride scholarship to "ABC" university, but the parents wanted him/her to go to "xyz" college instead and are crying about tuition prices.

We are sitting on top of oil now and are crying because the oil producing countries are not giving us more.

Also, Nixon stared the extraction of troops from Viet Nam, a war LBJ pretty much got us into in the first place. Carter is and was and will always be a big festering wound on the ass of America.

Oh, what is the current unemployment rate? interest rate? things arent rosey, but they could be alot worse. Lighten up.

This is a pilot board, stop dealing in reality

 

[8sugarsugar]

BTW Is the US the only country in the world where you can be in poverty and be obese at the same time?

You're probably right...

 

[Fozzy]

Everyone needs to stop worrying. We will just print up more money and hand it over to the folks that don't pay into the pot. We will all be OKAY.

Why is gas so expensive again?

 

[gunfyter]

Why is gas so expensive again?

I have been wondering the same thing.

10 years ago I think oil as about $8 a barrel.

Last year it was $65 and we thought that was high.

It seems to be a Bubble. Like the Tech Bubble that crashed 8 yrs ago and the housing bubble we have now. I think its just a matter of time before oil goes back down below $100 and gas goes back down below $3.

Now it seems Warren IS WRONG about the recession. The GDP grew 0.9% last quarter. No recession.

 

[Helmsalee]

Betting against Uncle Warren has been proven to be very risky.

 

[unwashed]

You are blaming Carter for the post-Vietnam hangover that had origins with LBJ and Nixon. Are you going to blame McCain or Obama for the POS that Bush has left us? Why not just start blaming them now, 4 years in advance of 2012?

LBJ and Nixon inherited a "Police action" from the gentleman you have quoted on the bottom of you page, JFK.