‘Our Country Has Faced Far Worse Travails’

Just I can ask you what you and the rest of the pirates did, so we can get out safe, is the lest you and your Body's can do for a legacy, what do you think Mr:Warren E, Buffet.

I hear the same song, over, and over, about the Pirates came a board and now they going old revealing pass adventures, after been Rich, don't do the same mistakes we did we make so much money, and we will give you some clue of what you can find the next, Treasure...

I've lost all respect I had for Buffett after reading these excerpts. Not only are there some interesting and eccentric turns of phrases, but he's telling everyone to make the same mistakes he's just made. Defiantly ignorant? Sounds familiar. His generation is over.

The real Obama has stood up, and lived up to his ranking as the most leftwing member of the United States Senate.

Barack has no mandate for this. He was even behind McCain when the decisive event that gave him the presidency occurred ??? the September collapse of Lehman Brothers and the market crash.

Republicans are under no obligation to render bipartisan support to this statist coup d'état. For what is going down is a leftist power grab that is anathema to their principles and philosophy.

Where the U.S. government usually consumes 21 percent of gross domestic product, this Obama budget spends 28 percent in 2009 and runs a deficit of $1.75 trillion, or 12.7 percent of GDP. That is four times the largest deficit of George W. Bush and twice as large a share of the economy as any deficit run since World War II.

Add that 28 percent of GDP spent by the U.S. government to the 12 percent spent by states, counties and cities, and government will consume 40 percent of the economy in 2009.

We are not "headed down the road to socialism." We are there.

Since the budget was released, word has come that the U.S. economy did not shrink by 3.8 percent in the fourth quarter, but 6.2 percent. All the assumptions in Obama's budget about growth in 2009 and 2010 need to be revised downward, and the deficits revised upward.

Look for the deficit for 2009 to cross $2 trillion.

IT'S AMAZING HOW INCOMPETENT, ARROGANT AND EVEN DUMB BARACK OBAMA AND HIS CREW ARE ON REGARDING ECONOMIC ISSUES:
Watching Barack and Robert Gibbs and then Tim Geithner today makes any professional's blood boil: those guys are as incompetent, arrogant and even dumb as it gets.
To ignore Wall Street, and that means to ignore daily market movements, is plain stupid, but that's exactly what the White House has suggested today as it's not Barack's job to comment on daily market movements.
Well, "Hello" the market has been tanking for months and the downward spirale is intensifying. Sure, we know why Barack can't comment, because he doesn't know what to say about it as he has no economic background whatsover, ... he's completely ignorant of what the stock market is all about.

The stock market is the comment on Barack's policies which are destined to fail and which have brought the U.S. into a severe depression as we'll see the results thereof in the coming weeks and months, ... and it will be worse than the Great Depression back in the 30s.

I know we're all reaping what Americans deserve by their stupid decision to vote this irresponsible and unqualified guy into office. But nevertheless, we haven't seen anything yet, ... and our eyes will be opened wide in the coming weeks and months as the unemployment rate hits double digits and how tens of thousands of companies go bankrupt left and right and as foreclosures begin to really soar. Mark my words, that's exactly what's going to happen as the Dow will drop below 6000 and the panic will set in. Don't even worry about looking at your 401K statement or your mutual fund statement at the end of Q1-2009, because your remaining wealth will be obliterated, ... thanks to Obama and his cohorts.

There are professionals out there that are a hundred times more qualified to run the country with expertise than Obama and his crew. Right now it's like having a punch of high school punks running the country. Well, anger is growing with all the demonstrations in major cities throughout the U.S. and even within the ranks of Democrats, and Obama's approval rating is in the 50s and will soon drop into the 40s and of course even into the 20s in the coming weeks and months, ... and then it's all over and we're left with the mess of scheduling new elections to restore true leadership and to begin the decade-long healing process.

So, please tell me, just what McCain would have done, by now, to be bringing us up out of this mess. Please don't say tax cuts. That would be redundant.

There is a big probability that earnings will continue to go down. Businesses and consumers are curtailing spending. There is a shortage of credit. This means stocks are still not cheap if they do not yet reflect the probable coming effect on earnings. This is the mother of all bottom lines.

We need to keep pulling back to the really big picture to see the fundamentals of what is really going on, which is that one Great Ape has gone ape (I'll bet you can guess which one). We've outgrown our carrying capacity. We've blown up a balloon of population, economic and natural resources consumption growth that simply can not and will not be sustained. Speculative bubbles were superimposed inside this overall balloon. The smartest people at identifying various things within the balloon - including Warren Buffet, Paul Krugman, Thomas Friedman and Barack Obama - don't see this fundamental reality. Until we do, we'll all be flailing to make sense of what is going on, without understanding it. Our entire paradigm of growth is shifting - starting now or at most within a few decades - into a paradigm of contraction. Virtually everything we've been doing is simply unsustainable.

We need to keep pulling back to the really big picture to see the fundamentals of what is really going on, which is that one Great Ape has gone ape (I'll bet you can guess which one). We've outgrown our carrying capacity. We've blown up a balloon of population, economic and natural resources consumption growth that simply can not and will not be sustained. Speculative bubbles were superimposed inside this overall balloon. The smartest people at identifying various things within the balloon - including Warren Buffet, Paul Krugman, Thomas Friedman and Barack Obama - don't see this fundamental reality. Until we do, we'll all be flailing to make sense of what is going on, without understanding it. Our entire paradigm of growth is shifting - starting now or at most within a few decades - into a paradigm of contraction. Virtually everything we've been doing is simply unsustainable.

A house should be considered a place to live not an investment and certainly not an ATM. When the gnomes of the lending industry sarting offering sub-prime mortgages they threw commonsense out the window. Their financial modeling was based on an yearly 6% appreciation rate in the real estate market. I doubt anyone who brought up the possibility of depreciation was listened to and yet, historically, this happened in 1980. Apparently the lenders failed history.
Most people living today have no recollection of the Great Depression. Our grandparents were children. The 25% unemployment rate is a national average and a very soberinf fact but, here in Utah, at times the unemployment rate hit 68% due to the nature of the local economy in the 1930's. What we need now are Statesmen who will set aside the partisan bickering and do what is best for the American people. We need elected representatives who will disregard the old government adage "if it ain't broke, fix it until it is" and will resist the temptation of interfering with the economy once it starts to rebound. By 1937 the economy was improving but Congress and the President couldn't resist. Actions taken that year threw the country right back into the depression and it took WW II to get us out of it. Any economist will tell you war as an investment, is a losing proposition. So, if your representative is only representing the their party, throw them out next election and vote someone into the office who will work to get the country out of the slump.
All I can say is pay down your debt if you can't pay it off and watch your pennies. Good luck and God help us all.

Buffet is not a realist. This country is done as we know it. Sure, I'm a pessimist and Buffet is an optimist. All I want is to be proven wrong. So show me how this country will deal with unemployment, rising taxes in virtually every sector, devaluation of the dollar, industrial output, and maybe the most significant; the morale of the middle class and working people who HAD a dream. Please explain how we get out of this by increasing the size of government and increasing debt with absolutely no regard to payback.

Buffet has lost the edge - "overspending put in this mess" - Warren
supported Hillary and now Obama - and Obama is going to spend us out of the mess - Shee

News Flash !!

The American Dollar has No Value...Period

The Dollar is Not Backed by Gold...

Thank The FED and President Woodrow Wilson's....

Federal Reserve Act of [[1913]] for that Bad Read.

The FED's Money is Created out of the AIR and therefore, It DeValues the Dollar...

The More Dollars the FED Prints, the More they Devalue the Currency.

If the USA Dollar was Still Backed by [[Gold]] This Country and it's Currency would be in far Greater Shape...

Because [[Gold]] has Risen Greatly.

No Sir....

This Country and its [[Hollow Currency]] has been in Recession, long Before President Obama, it just begining to come to LIGHT...

There were More Republican Presidents in the Last 20 Or More Years

Republican: 2 Terms Nixon, 1 Terms Ford, 2 Terms Reagan, 1 Term Bush Sr, 2 Terms Bush Jr.

President: 1 Term Carter, 2 Term Clinton & Obama

None of these Presidents did Anything regarding Getting Our Currency Back to the [[Gold Standard]]

None of them, but Look who was in Power the Longest....Republicans

Now their Followers are trying to Spread, Fear, Hate, Dread & Hopelessness...

Because it is the ONLY CARD they have left to PLAY
---------

Ron Paul is the only Politician, to Address this matter of [[Gold]] being the Standard of the US Dollar, once More.

I'm no Warren Buffet, but here's my prediction: No one is going to spend their tax cut. They're just going to bank it. The only spending that will occur in the next two-three years will be the government. That will allow the economy to trip along until the money runs dry, and then there will be a crash. The DOW will end up well below 5000, and it will stay there for years. Ten years from now, it will still be well below 10,000. Unemployment will bottom out around 20%. The financial fundamentals in this country have changed, and we won't see better times for at least ten years.

After the "tax the rich" policies are in place, and the wealthy decide it's not in their best interest to make more money than they are (and maybe they should make less), who will I be working for?

I mean, really...how many people think that multi-millionaire Joe Blow is going to work his a** off so he can hand over 90% of what he makes for the government to distribute as it sees fit? If I were multi-millionaire Joe Blow, I would shut down everything I'm doing and sock everything away in a Swiss bank until the tax laws become more beneficial for me to operate in America again. I can easily live off the interest.

Someone explain to me why the Left is so convinced that everyone is looking forward to working their butts off so someone else can decide what to do with the fruits of their labors? When the Gov (or the One) comes around and tells me I need to hand over 90% of what I make, I can let you know he will find an empty spot where I used to be.

It's too bad that the level of comments is way below the subject matter. can you guys stop with the partisan crap already. it's been established, the last 8 years of it produced the fix we're in. Want more? keep it up.
Mr. Buffet's article, while optimistic, has the sound of a barn door swingin gshut, as in, the cows have gone. I'd like to hear what he has to say for the rest of us instead of hearing about how his company avoided the mess.