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Warren Buffett says that Obama did the right thing...

Discussion in 'Political Zone' started by silverbear, May 2, 2009.

  1. silverbear

    silverbear Semi-Official Loose Cannon

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    When dealing with the economic crisis... but what the heck, what does one of the world's richest man know about money, compared to all the alleged economic experts who grace us with their presence on this here forum?? :D

    Basically, what Buffett is trying to tell us is that desperate times require desperate measures... which most Americans seem to understand, but some of you on the right seem completely incapable of grasping... instead, you want to demonize Obama for doing the only thing available to him that stood a chance of staving off this "economic Pearl Harbor"...
  2. ShiningStar

    ShiningStar Well-Known Member

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    So if it goes back up regardless of any reason, its Obama. I love it. Way to go SB, i figured you were level headed, but hey, you keep proving me wrong. Its good for a laugh.
  3. theogt

    theogt Surrealist Zone Supporter

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    Not sure why he's commending Obama. It was Bush that got TARP passed. And it's pretty clear after 6 months or so that it was the right thing to do.

    Surely he isn't referring to the stimulus package, which hasn't even begun to start taking effect. Or perhaps he's referring to some of the recent federal reserve actions, but those aren't made by the president.
  4. silverbear

    silverbear Semi-Official Loose Cannon

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    No, it goes back to the folks in here who keep on attacking Obama's economic stimulus plan not having a flippin' CLUE... here you have one of America's foremost entrepeneurs, a guy who has weathered this storm much better than most, saying that what Obama did was not only the right thing, but the NECESSARY thing...

    They keep screaming in here about how Obama's gonna bankrupt us, not recognizing that he probably just SAVED us from going bankrupt...

    Do I like what he's done so far?? With a few exceptions, absolutely... he has started the necessary steps to get us out of the clusterbleep we call Iraq, he has reversed our contemptible policy on torture, he has started the process of restoring our respect around the world... and he has taken the difficult, distasteful steps necessary to address an economic crisis unseen in the country in the last 75 years or so...

    I voted for him, and thus far I'm quite pleased to admit that... he's doing really good, as far as I'm concerned... the thing is, that's an opinion that's shared by the vast majority of the country... you couldn't tell it by this message board, but as I say over and over and over again, the Politics Zone is in no way reflective of this nation... this forum is a hotbed of right wing, reactionary zealots, with depressingly few people possessed of common sense to be found...
  5. silverbear

    silverbear Semi-Official Loose Cannon

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    Wrong... ask Olympia Snowe about that, she has gone on record as saying she's already seeing the benefits of the stimulus package...

    But again, what the heck does SHE know, compared to your extensive knowledge of the subject?? ROTFLMAO...
  6. theogt

    theogt Surrealist Zone Supporter

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    You're right, I was exaggerating. There have been some tiny benefits that have come about, but certainly not enough money has gone into the system to declare the entire thing a success.

    Saying there has been "some benefit" doesn't equate to saying "it was the right thing to do based on evidence we've seen."

    Surely you can see the difference.

    And it may sound arrogant, but I'd put my economic knowledge up against most US Senators. And I honestly think that's not saying much at all.
  7. ShiningStar

    ShiningStar Well-Known Member

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    Theo is right, Obama's stimulus package doesnt take effect til 2010. So he gets no claim if it corrects itself before than. As I screamed back on this board, it was Team Obama declaring hes saving 3.5 million jobs from the worst recession/depression we ever seen. Such was not the case, but he watned that stimulus package to go through in the worst way.

    You might be happy with people blowing up parts of America and kissing off victims but im not. Iraq was long overdue and as we know, so goes this country, so goes this rock that spirals through space. Love it or leave it, either way i dont care.

    Respect around the world, Oh NOES we dont have the Middle Easts respects, WHAT are we going to dos. We're just going to have to sit around here in the hood til we get their respect. OMG we're doomed if we arent down with the turbans from the desert. I got news for you, that place is not looking to hot and its no allies of ours. You dont go around making enemies of your allies and allies of your enemies, but you keep believing the hype.

    Yeah, again, this was not the worst recession/depression EVA. It was coming off a bubble that was generated years before. The economy does that, I know a loop is confusing for you so ill just avoid explaining it.


    But, can you explain to me why Chrysler had to merge with Fiat? since you are down with the "O" maybe you can shed some light on the people picking up the tab on this whole mess. I was assure by your messiah if we bail them out they wont collapse, and Chysler is going to collapse.

    Do tell how thats going to work out for the Grand O.
  8. ShiningStar

    ShiningStar Well-Known Member

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    I have to agree with this whole post.
  9. silverbear

    silverbear Semi-Official Loose Cannon

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    Yeah, I do... but at the same time, the early evidence is starting to suggest that this is the case... it is too early to pass judgement, but the early indicators are rather good...

    You're a good guy, so I won't use "arrogant"... I'll just say it's kinda silly, presuming that you know more about the early effects of the stimulus package than Senator Stowe does... you might have been better off to suggest she was just spinning to cover her butt for voting for the stimulus package, LOL...
  10. theogt

    theogt Surrealist Zone Supporter

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    Oh, I certainly do think it will be the case. You just can't claim that with any certainty now -- at least not based on any evidence.

    It's painful to listen to senators and representatives actually try to engage in the issues during committee hearings. Honestly, most of these people have barely a high school level understanding of the issues.
  11. Beast_from_East

    Beast_from_East Well-Known Member

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    I dont mean to interrup yalls pissing match, but I will just say this.


    Warren Buffet knows more about economics than every single poster on this board and that is straight up legit. So before anybody embarrasses themselves, try to keep this in mind.

    If Buffet says Obama did the right thing, thats good enough for me.
  12. sbark

    sbark Well-Known Member Zone Supporter

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    It was the Democrats own CBO office that said if nothing was done----would climb out of the recession by 2009.......

    http://www.washingtontimes.com/news/2009/feb/04/cbo-obama-stimulus-harmful-over-long-haul/

    .....now they are saying, much like FDR's "shopping spree" in the 30's---it will prolong and make it worse.......FDR policies extended the great depression an estimate decade...

    Govt cannot give money to anyone--without taxation, confiscation, printing or borrowing............all are bad choices......

    ......but, cannot waste correctly timed crisis........
  13. ShiningStar

    ShiningStar Well-Known Member

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    Again, real simple. Team Obama screams this is going to be the worst recession/depression ever, they cram stimulus package down our throats. Team Obama than screams this whole mess will be done by the end of 09.
    His stimulus package doesnt kick in til '10 does he still get credit for doing the right thing if the market rebounds on its own?
  14. DFWJC

    DFWJC Well-Known Member Zone Supporter

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    I've always appreciated Warren Buffett's general practical approach to things. Even though he was already in the Obama camp before the elections, I do think he is sincere in his post-election assesssmnt. Of course, this praise includes the Bush crew as well, but that's beside the point.
  15. iceberg

    iceberg detoxed Zone Supporter

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    so you start off attacking "those on the right" and keep the divide alive.

    thanks man. : )
  16. theogt

    theogt Surrealist Zone Supporter

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    After re-reading the quote today, I think the title is a bit misleading. Buffett does not refer to Obama at all. And, as I explained earlier, the only actions he could logically be referring to are the actions to pass and implement the TARP program which was largely Bush, not Obama.

    I'm sure there will be a transcript of the shareholder meeting out eventually, so we can look at more of the quotes to ascertain what he's talking about.
  17. theogt

    theogt Surrealist Zone Supporter

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    Reading this "transcript" of what he said, he was very clearly referring to the TARP program and thus was not talking about Obama at all.

  18. vta

    vta The Proletariat

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    Thanks for that balance.
    Some may want to 'demonize', but they're no better or worse than those who wish to 'deify'.

    This political fan-boy stuff is for the birds, and most definitely not for the United States.
  19. theogt

    theogt Surrealist Zone Supporter

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    100% agreed.
  20. arglebargle

    arglebargle Well-Known Member

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    A lot of this economic downdraft comes from confidence issues. Sometimes you just need to pick a direction and say 'We need to go this way'. The direction is less important than getting everyone moving.

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