Buffett Says "America Will Work Fine Under Trump", "Overwhelmingly" Supports Trump's Cabinet Picks

Tyler Durden's picture

And just like that one of Hillary Clinton's biggest supporters, Warren Buffett, has flipped and after predicting doom under Trump, now expects prosperity for the US under America's new president.

In an interview with CNBC, the Omaha billionaire, said that "America works" and added that "It'll work wonderfully under Hillary Clinton, and I think it'll work fine under Donald Trump." The reason for his optimism: Buffett told CNBC the United States has the "secret sauce."

"It doesn't work all the time perfectly," the billionaire said, "but you just look at where we go, milestone after milestone. Never bet against America." With that mantra as a guiding principle, Buffett said, "we're almost always a buyer of stocks over time."

Focusing more on the stock market, Buffett reverted to his infamous optimism and reiterated his call to invest for the long haul; he acknowledged that he doesn't know where the stock market will go in the next "10 days or a year or two years." But he is confident that "It's going to be higher 10 years, 20 years from now."

"There will be hiccups from time to time in the economy," he cautioned. "[But] we'll do well over time."

Especially if the government bails out his core investments during periods of extreme drawdown, as happened during the financial crisis.

 

In a separate interview Buffett told Bloomberg he “overwhelmingly” supports President-elect Donald Trump’s choices for cabinet positions, many of whom are former bankers, and close friends.

“I feel that way no matter who is president,” Buffett said Thursday in New York at the premiere of a documentary about his life. “The CEO -- which I am -- should have the ability to pick people that help you run a place.”

“If they fail, then it’s your fault and you got to get somebody new,” Buffett said. “Maybe you change cabinet members or something.”

Not surprisingly, since the election, Buffett has struck a more conciliatory tone toward Trump and "called for unity." In an interview with CNN in November, he said that people could disagree with the president-elect, but ultimately he “deserves everybody’s respect.”

He concluded with an ironic twist, saying he hopes Americans are kept safe during the next administration, in view of possible aggression from North Korea. And he said he’s looking for  “the people that haven’t participated in our incredible prosperity” to have a chance to do better. “If they work 40 hours a week, they should have a decent life,” Buffett said. “That’s the most important thing in terms of the economy.”

Perhaps the suggestion is that the surge in part-time jobs under Obama, as even  former top white house economist Alan Krueger recently admitted, coupled with a record number of Americans holding multiple jobs, does not translate into the economic prosperity that Obama has repeatedly described as his crowning legacy.

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Wulfkind's picture

BWAHAHAHAHAHAHA !!!!!

One of the CHIEF SWAMPSTERS giving his approval to the new denizens of the Swamp !!

OF COURSE YOU CAN WORK WITH THEM.......THAT'S THE WHOLE POINT OF FASCISM.  

y3maxx's picture

-Question remains.......will trump drain the CIA and Wall Street

FreeShitter's picture

Trump has been shown the JFK tape so no,

xythras's picture
xythras (not verified) xythras Jan 20, 2017 11:00 AM

THIS IS THE ONE AND ONLY NEWS FOR TODAY!

USA ! USA ! USA !

TRUMP !

The Saint's picture
The Saint (not verified) xythras Jan 20, 2017 11:27 AM

Buffet knows the President, whom ever it is, can make him a lot of money by knowing and enfluencing policy.  Try as he will, he will try to influence the policies of President Trump to his own benefit.  I certainly hope Buffet fails in this regard.

You may have noticed that I NEVER referred to Obama as the President.  It was intentional on my part because he was never a true President embraced by God in my eyes.  Obama never embraced the principals that made America and for that he was always an outsider trying to reshape America into a foreign image.  I will, however, gladly refer to Mr. Trump as PRESIDENT TRUMP!!

 

NewHugh's picture

So go troll elsewhere ass-hurt shill...

One World Mafia's picture

His cabinet is already overflowing with them.  No more room.

xythras's picture
xythras (not verified) Wulfkind Jan 20, 2017 10:58 AM

Jew !

The central planners's picture

Never bet against Joomerica especially when ot holds 20 trllions in debt and another 300 in private debt.

spieslikeus's picture

But, but, but Soros said below that Trump will be a disaster. Which fuckhead Billionaire to believe? I need to lie down in a safe space.

One World Mafia's picture

Soros and Trump go way back.  There was a big loan then debt forgiveness.  And given that Trump drained the swamp into his cabinet, I think the Soros announcement was a psyop...Soros Bad, Donald Good.  We could still see some positive economic policy changes as the US pauses to re-energize.

 

http://articles.chicagotribune.com/2004-10-28/news/0410280265_1_donald-t...

http://wearechange.org/george-soros-forgive-trump-312-million-debt/

techpriest's picture

At minimum, as a former Hillary supporter he has to get out of the crosshairs.

FreeShitter's picture

Of course he supports them, they are all goldman jooz and neocons. Swamp thing, bitches...

Rodders75's picture

Crony capitalist

mofreedom's picture

Scared much of Keystone Mr BNSF?

Ignatius's picture

Feel better now?

jus_lite_reading's picture

Buffett can be buried in the same coffin as Soros for all I care. Two old turds, two different colors.

CaptainObvious's picture

Fuck you, Uncle Warren.  I hope Trump's first action is to sign the Keystone Pipeline into being.  That way all your oil trains are immediately obsolete and you can join Soros in the "I lost a billion betting against Trump" club.

DingleBarryObummer's picture

What is the over-under on that actually happening?

CaptainObvious's picture

Well, I'm a cynical bastard and a hopeless pessimist, so I would put it at about 1000/1.  I gave up hope for Lent, and I'm an atheist.

Swamp Yankee's picture

I am convinced that given the opportunity, he’d take the occasion to welcome his new giant ant overloards.

 

Thanx, now go home Warren and take up knitting.

Berspankme's picture

Piss off you welfare maggot

silverer's picture

Wow! Warren, the old sly coot, can really jump a fence!

Kayman's picture

Buffet has no principles. After trying to gargle the stench of HilLiary and Obama out of his mouth, he now is trying to save what is left of his crony-built, dirty-money greased empire.

Buffet hates competition. Look at every market he is in.

inosent's picture

another I'm not with her anymore flip flopper who'll stab you in the back and say whatever is convenient.

two hoots's picture

Warren Buffett is no fool.  He tacks his sails to the prevailing winds.

Kayman's picture

Buffet overplays his dirty hands on this one.  I can't see Trump cheering on the consolidating more and more power into fewer and fewer hands. Guys like Buffet don't create jobs, they buy up companies and lay people off.

ZIRP/NIRP combined with corrupt politicians are the ingredients for killing American jobs.  It is a lot cheaper to replace people when debt money is nearly costless. Replacing people with capital is a lot harder when you have to pay market rates.

falak pema's picture

Hahaha!

If any other proof was required to understand that money and ideals are incompatible in the land of the free, we have it right there !

Hillary WHO ?  Democrats WHAT ?

haha !

Money talks and shit walks in DC; whats new !

ToSoft4Truth's picture

If you see the difference, why doesn't Buffet? 

 

 

falak pema's picture

'Cos he runs the biggest financial machine of WS... 

A bit like John Connolly, he knows which way the wind blows to save his wealth. That ex Governor of Texas took a magical bullet for JFK and then sang "our money your problem" for Tricky Dicky!

As I said idealism died and cynicism thrived in the body politic of DC and its string pullers of WS, the day Aldous Huxley died : Nov 22 1963.

Jefferson's legacy is now a dead dodo in those circles !

American Presidents dont lead by example they lead by threats and by shock n awe, and rake in money as Mr Moneybags for their own. 

Never ends well that type of "reset".

g'kar's picture

It's never too early to suck up to the boss

Wulfkind's picture

Suck up to the boss ????

Son....even Buffet saved Goldman's ass during the Crash of 2008 with his injection of cash to give Goldman enough time to restructure as a real bank thus giving them the further opportunity to suck off the governent teat known as TARP under Bush and ex-Goldmanite Henry Paulson.

LOL......Tramp is NO boss to these evil scum.

BarkingCat's picture

When the next shit event happens and Trump is the guy with the financial lifeline of credit from the federal government, try that statement again.

 

Even today, Burfit makes a lot of money through connections inside the government. Trump has the ability to end that financial suck fest.

I hope he does.

yellensNIRPles's picture

Off-Topic, but speaking of 'working fine' under a Trump presidency:

Why isn't welfare a jobs program? Why do we give away the money for nothing without asking for work in return? Now that is a bad deal, Mr. Trump.

Perhaps it's time to change the name of government assistance to the America Works Program and 'hire' everyone actively receiving benefits. "Congratulations, you now have a job."

We can start with having benefit recipients hired to rebuild our failing infrastructure and go from there. 

ToSoft4Truth's picture

And why don't prisoners earn their keep?  All these automotive assembly jobs can be done by cons for room and board. 

CaptainObvious's picture

Make 'em pick up trash on the highway.  And in return, they don't get an EBT card...they get a cookbook and a supply of basic wholesome ingredients. 

I'm standing in line at a convenience store yesterday, and the huge fucking land whale in front of me whips out her EBT to pay for:

2 giant sodas

2 prepared sub sandwiches

1 massive bag of chips

3 candy bars

And I'm paying for that!  I'm paying for that huge fucking land whale to eat herself even bigger, and then I'm paying for her quadruple bypass and necessitated-by-diabetes foot amputation and mobility scooter!  How in the FUCK is this reasonable?!

And then on the other end of the scale, I'm paying for Uncle Warren's subsidies and favorable-to-him laws.  Being a serf sucks donkey balls.

flaminratzazz's picture

no you are not paying for it. Your/our taxes dont pay the interest on the debt. get over it.

WorkingPoor's picture

This is why getting off the grid and under the radar is looking more and more attractive to those who do not desire to be serfs.

The abovementioned liberal/do-nothing land whales hate such initiative, as they could never bring themselves and their tonnage to actually exert the effort, and for every one that goes off-grid, why, that's one less taxpayer keeping their EBT card filled.

I've never understood why welfare was not left as welfare for the truly physically unable, and workfare made available for the ablebodies. Certainly the bureaucracy would be happy, TWO government charity routes instead of just one.

Maybe it is lack of imagination on my part, but I don't see any pride in being on such a dole as the present system offers.

 

WP

flaminratzazz's picture

You will have to leave the country for the "off grid/radar" utopia you spew.

Drivers license?

social security number?

Bank account?

Land owner/renter?

internet account?

credit card?

mailing address?

have you left the country and denounced your citizenship and burned all ties to the beast?

??

 

WorkingPoor's picture

Spew? Check your cards again.

"Utopia" in its ancient greek form means "Nowhere".

The virulence that you attach to only one sentence of my statement leads me to think you might well be one of the abovementioned land whales, whose ease is only guaranteed at the expense of others' toil.

I'd point out that loyal citizens up to about 80 years ago got along quite well, TYVM, with but an address, and sometimes a bank account. Ah, times have changed.

 

WP

 

silverer's picture

The biggest opposition of your idea comes from: UNIONS.

swampmanlives's picture

Most people who are on welfare have a job.

Bill of Rights's picture

Scum bag we don't need your approval and your money means shit, as without it your just another nobody.

silverer's picture

As you probably know, old Warren was bailed out a couple of times courtesy of the US taxpayer. So he's going to try to stay on the good side of whoever calls those shots. Trump likely won't be too sympathetic to Warren if he screws up again, though. And I for one, would like to see that.

LyLo's picture

Well, yeah.  Because Trump's going to be president.  He has to see the writing on the wall...  I'm looking forward to a lot of rich people 'seeing the light' just like they did under Obama.  What, none of the Democrats remember when it wasn't a la mode to be a mindless neo-liberal?  Yeah, we'll see how long the dollars keep pouring in when they figure out they aren't getting any business that way...

I'm also very curious to see how quickly his enterprises will start to struggle without him being the executive branch's favorite billionaire.  XD  (May the good Lord have mercy on him if Trump is serious about cracking down on monopolies...  Oh, wait.  Never mind the mercy part.  lol)