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Obama Goes To Buffett For Economic Advice: More Taxpayer Bailouts Imminent

Tyler Durden's picture




 

It may not be quite Obama telling us to buy stocks as he did on March 6 due to attractive "profits and earnings ratios", but it is about as close as him advising it is time for everyone to do their patriotic duty and buy shares of floundering Wells Fargo:

  • OBAMA CALLED BUFFETT TO DISCUSS MEASURES FOR SPURRING ECONOMY

We can't wait to hear what 'altruistic', taxpayer bailout-funded ideas the Octogenarian of Omaha had. In the meantime we wonder: just why does Obama have an economic advisory team. Oh wait, after everyone bailed on him, Obama has no economic advisors left at all. Carry on then.

 

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Mon, 08/22/2011 - 13:34 | 1586608 azengrcat
azengrcat's picture

We're doomed

Mon, 08/22/2011 - 13:38 | 1586632 slaughterer
slaughterer's picture

Its ok if Warren provides some nice folksy memes for BO to regurgitate in his town halls, but when he is called upon for providing a solution, the man is clearly dangerous. 

Mon, 08/22/2011 - 13:40 | 1586652 BaBaBouy
BaBaBouy's picture

Same Shit ...

 

Empty Heads = Country Is Toast ...

Mon, 08/22/2011 - 13:47 | 1586685 flacon
flacon's picture

Paging Larry Summers. ... Hello? ... Hellooooo? ... No answer.... 

Mon, 08/22/2011 - 15:38 | 1587260 Thomas
Thomas's picture

That fucking stock jobber gets all the inside tips. He's a hoser. 

Mon, 08/22/2011 - 14:53 | 1587068 Kat
Kat's picture

Trouble is, his "folksy memes" can be summed up as "what's good for the economy is transfer payments from taxpayers to me, Warren Buffoon". 

The other trouble is that the idiot American public is as smitten with this asshole as the idiot in chief. 

Mon, 08/22/2011 - 16:44 | 1587538 calltoaccount
calltoaccount's picture

 

 

Open Letter to Warren Buffett: Put Your Money Where Your Mouth Is

By David DeGraw 

Posted By  On August 19, 2011 @ 5:24 pm In Activism,Economy,Feature,Hot List,Politics & Government |

Dear Warren,

If you are truly sick and tired of the “mega-rich” being “coddled” by a “billionaire-friendly Congress,” as you said in your recent NY Times editorial [3], why don’t you back up your words with some real action and put your money where your mouth is?

As you well know, though you may not admit it publicly, there is a system of political bribery in place that allows the “mega-rich” to control our political process, thus creating the “billionaire-friendly Congress” you claim to be against. Through campaign finance, lobbying and the revolving door the “mega-rich” are able to dominate and corrupt government policy.

If you are serious about what you say, it seems obvious that you would financially support politicians and organizations that seek to change these government rigging processes.  Saying that you want to be taxed more by a paid off government, without changing the system that allows this corruption in the first place, sounds like meaningless rhetoric to me.

While you are at it, if you truly believe in free market competition, you must surely want to break up the “too big to fail” banks that have now rigged your beloved “free market.” Clearly, you can’t have free market competition when a few global financial institutions have consolidated so much wealth and power that they can crash the economy and then get paid off politicians and the Federal Reserve to throw trillions of dollars at a select few and rig the “laws” and “regulations” in their favor. That’s clearly not a free market based on fair competition. Once again, this a symptom of the system of political bribery.

So Warren, what do you think? Are you going to support efforts to make these urgently needed changes, or are you just making meaningless statements to ease your guilty conscience?

If you are truly concerned about the future of America, you should be fighting on these fronts.

I sincerely hope you are a man of your word.

If you would like to discuss these issues further or publicly debate them, please have your people get in touch with me.

Thank you for your time,

David DeGraw
Email: David[@]AmpedStatus[.]com

[1] [2]

Article printed from ampedstatus.orghttp://ampedstatus.org

URL to article: http://ampedstatus.org/open-letter-to-warren-buffett-put-your-money-where-your-mouth-is/

URLs in this post:

[1] http://twitter.com/home/?status=Open+Letter+to+Warren+Buffett%3A+Put+Your+Money+Where+Your+Mouth+Is+http%3A%2F%2Fbit.ly%2FoOQQK1


[2] http://reddit.com/submit?url=http://ampedstatus.org/open-letter-to-warren-buffett-put-your-money-where-your-mouth-is/&title=Open+Letter+to+Warren+Buffett%3A+Put+Your+Money+Where+Your+Mouth+Is


[3] editorial:  http://www.nytimes.com/2011/08/15/opinion/stop-coddling-the-super-rich.html?scp=1&sq=buffett%20and%20taxes&st=cse

 

 

 

Mon, 08/22/2011 - 16:57 | 1587596 Kat
Kat's picture

Oh, so not gonna happen. 

Warren LOVES a "billionaire friendly congress".  He adores rent seeking - been doing it most of his adult life.

This whining about taxes is rent seeking as is his support for TARP (right after negotiating a sweet deal with Goldman, including in the money options, that would have been an assured mega gain for this fab billionaire only if the "billionaire friendly congress" were willing to transfer taxpayer funds to Goldman.  And they did).

What a disgusting piece of shit this Buffoon is.

Mon, 08/22/2011 - 13:38 | 1586635 Ahmeexnal
Ahmeexnal's picture

Ogolfer must be asking Warren tips on where to vacation like a prince.

Mon, 08/22/2011 - 13:42 | 1586663 slaughterer
slaughterer's picture

Is THIS the reason we are rallying?   NO, say it cannot be. 

Mon, 08/22/2011 - 14:37 | 1586972 Marcuz Aurelius
Marcuz Aurelius's picture

Let's not forget we will go to WAR azengrcat. You can't teach it tricks, lay-dead, heel, roll over ! 

Mon, 08/22/2011 - 17:41 | 1587761 IQ 145
IQ 145's picture

God what a farce ! I keep having to remind myself this is real and not some kind of play put on by the "Onion". Maybe the actual subject of the call, was, how much are you going to put in my retirement account in Austria if I do what you tell me to? NOthing would surprise me less.

Mon, 08/22/2011 - 13:34 | 1586609 Sgt.Sausage
Sgt.Sausage's picture

This can't end well ...

Mon, 08/22/2011 - 13:41 | 1586655 slaughterer
slaughterer's picture

OGolfer clearly has not a single worthwhile idea for the US economy of his own. 

Mon, 08/22/2011 - 13:49 | 1586698 flacon
flacon's picture

That's because he's a Constitutional "expert" and a No-Bell "Peace" Prize winner - not an "e-CON-omist" - 

Mon, 08/22/2011 - 13:54 | 1586724 spiral_eyes
spiral_eyes's picture

I fucking pwned buffett on "job creation" after he wrote that NYT bullshit. emailed him my post, but he didn't respond. probably didn't read it. too busy plotting populatin reduction with billy gates.

http://azizonomics.com/2011/08/17/job-creation-101/ 

obama might as well go to paul krugman. same fucking difference.

Mon, 08/22/2011 - 14:55 | 1587076 Translational Lift
Translational Lift's picture

That's because he's a Constitutional "expert" and a No-Bell "Peace" Prize winner - not an "e-CONomist"

Clueless fuck is more like it!!

Mon, 08/22/2011 - 15:00 | 1587104 Buckaroo Banzai
Buckaroo Banzai's picture

The current Term of Art is, "stuttering clusterfuck of a miserable failure."

Mon, 08/22/2011 - 17:43 | 1587771 IQ 145
IQ 145's picture

"If it walks like a Duck, has feathers all over it, and quacks, it's probably a Duck".

Mon, 08/22/2011 - 18:05 | 1587859 DosZap
DosZap's picture

flacon@13:49,

I agree w/ the No Bell Prize,but plsssssssssss,Constitutional Spurt?.

To be called that,one must know it, and interpret as the Founders intended.

Something this SO called SPURT has NO CLUE of,and has taught it according to HIS interpretation, instead of the REAL DEAL.

Lord help any student that sat under that SO called SPURTS Const teachings...................closer to Marx than the Original..

Mon, 08/22/2011 - 13:34 | 1586610 TheTmfreak
TheTmfreak's picture

Let me guess what the answer will be.

Tax the rich, while continuing to feed the "wall street fat cats" (it'll be called something else naturally).

Mon, 08/22/2011 - 13:46 | 1586680 infinity8
infinity8's picture

shake 'n bake.

Mon, 08/22/2011 - 14:22 | 1586886 Mr. Poon
Mr. Poon's picture

Well, "tax the rich" will be the campaign slogan, but the reality will be taxing those who are trying to become rich, while leaving those who already are rich untouched to enjoy their wealth.  The easiest way to do that, of course, is to lay massive taxes on income while leaving assets and capital appreciation alone.

Mon, 08/22/2011 - 14:33 | 1586952 TheTmfreak
TheTmfreak's picture

Well of course thats what the reality is.

I find it funny that so many people (including politicians) talk shit about the financial industry, but hold this guy high up. Literally the guy who "won the most" in the financial industry. Uhm.... is he the "exception" to the rule? The guy who did best that which so many dislike?

Hypocrisy to the max.

Mon, 08/22/2011 - 17:38 | 1587751 ElvisDog
ElvisDog's picture

That's exactly correct. Who do the uber-rich fear? The sort-of rich who might become rich enough to challenge the empires of the uber-rich. But if you can take away a good part of the capital of the sort-of rich, that problem disappears.

Mon, 08/22/2011 - 17:45 | 1587777 Kat
Kat's picture

I don't think so.  You becoming super rich does not in any way harm the already uber rich.  They don't care one way or another about you.  Besides, the way to become super rich is to create stuff like google, facebook and other useful inventions the uber rich love.

No, I think it has a lot more to do with the uber rich kids of the people who originally broke their backs to create all that wealth and those to whom it came too easily (Zuckerberg and the google guys).  They're already rich.  They also have "principles" and they would like for you to pay for those principles so that they can feel better about themselves.  Or, they really do have those principles and they figure they should force you to have them too.  At gunpoint.

Any way you look at it, they're fucking assholes.

 

 

Mon, 08/22/2011 - 17:47 | 1587780 IQ 145
IQ 145's picture

Ding! Ding! give that man a kewpie doll.

Thu, 08/25/2011 - 11:49 | 1599846 boiltherich
boiltherich's picture

And, the real reality is that income has become so distorted and unequal that the income tax no longer captures near enough of the national income to pay for even ongoing government no less to pay down or service the debt.  It has not for a long time now, that is why they had to borrow against future income of the middle class and poor who will never-not ever- have it to pay.  Now we reach a point that they can't really borrow more from the future incomes of the less than wealthy but the money has to come from somewhere.  Even if we cancel deductions for kids and mortgages, for everything so that we have a postcard type tax filing for income it will not close the gap, even if we redefine financial and other unearned income as ordinary income to be taxed at the 35% rate rather than 0-15% it will not be enough.  Annual national income at a 35% tax rate now cannot satisfy the need for revenue, there simply is not enough and what there is now is in far too few hands.

Answers you will eventually see, a wealth tax.  This would include but not be limited to a national property tax.  A national sales tax (or VAT) which would send me away from the USA, a national luxury tax, a return to high estate taxes on larger non farm estates (one of the few I favor), closing the loopholes on corporate taxes, though I should hope coupled with lowering the rate to an average of our major competitors around the world.  But how ever the government collects it the money has to come from actual people that have it.  And those that actually have wealth know this, that is why they are pulling out the big guns in the class war, and why they are buying real estate in Paraguay, Argentina, and Uruguay. 

Mon, 08/22/2011 - 13:35 | 1586615 Cash_is_Trash
Cash_is_Trash's picture

Hulk say: FIAT SMASH!!

Mon, 08/22/2011 - 13:35 | 1586617 Hugh G Rection
Hugh G Rection's picture

Ya Buffet, tell us again how we need to raise taxes on those that can't avoid them with a team of lawyers.

Mon, 08/22/2011 - 13:35 | 1586619 LawsofPhysics
LawsofPhysics's picture

More QE, this time to the bottom 20%, compliments of the folks in the middle.  Screwed again.

Mon, 08/22/2011 - 13:37 | 1586627 Bastiat
Bastiat's picture

Buffet sez:  Suck it up, bitches!

Mon, 08/22/2011 - 13:37 | 1586631 buzzsaw99
buzzsaw99's picture

why won't that old maggot die? holy f%ck!

Mon, 08/22/2011 - 13:38 | 1586637 Bastiat
Bastiat's picture

Shit Cheney's still alive . . .and Kissinger . . . and Greenspan.

 

Mon, 08/22/2011 - 13:51 | 1586707 slaughterer
slaughterer's picture

Why not just cut to the chase and PRINT.  Who needs advisors any more when you have a printing press?

Mon, 08/22/2011 - 16:04 | 1587347 Steaming_Wookie_Doo
Steaming_Wookie_Doo's picture

And so is the Queen, D. Rockefeller, Rothschilds, Bush Snr, etc. Heck Zsa Zsa Gabor has had last rites 4 times already this year.

P.S. I think Becky Quick gave you the thumbs down.

Mon, 08/22/2011 - 13:41 | 1586658 fuu
fuu's picture

Puppy blood baths?

Mon, 08/22/2011 - 13:47 | 1586691 Dr. Richard Head
Dr. Richard Head's picture

Actually, he takes the tears of 401K holders rectally.

Mon, 08/22/2011 - 17:48 | 1587784 IQ 145
IQ 145's picture

urrrggh. not a pleasant image.

Mon, 08/22/2011 - 13:39 | 1586633 TruthInSunshine
TruthInSunshine's picture

 

 

Obama is a clueless f*ck on anything remotely having to do with economics.

He's in a mad scramble to raise lots of cash, hoping to buy the 2012 election, so reaching out to Comcast's CEO (as he did Saturday Night on Martha's Vineyard, at Comcast's CEO's "cottage") and Warren "Thank You Uncle Sugar" Buffet is just going to be the start to his Wall Street Scumbag ass kissing.

Jamie Dimon, the Treasury Department is yours for the asking, and Lloyd Blanfein, you get any Cabinet position you want, buddy.

Brace yourselves for disgusting scenese of impure acts of perversion and even bestialisty as Obama does the Wall Street rounds, servicing his masters.

Mon, 08/22/2011 - 13:42 | 1586660 BoNeSxxx
BoNeSxxx's picture

With all due respect, every word of your post beyond the first five was superfluous.  :)

Mon, 08/22/2011 - 13:48 | 1586694 TruthInSunshine
TruthInSunshine's picture

Tu che.

Mon, 08/22/2011 - 13:44 | 1586673 slaughterer
slaughterer's picture

Once OGolfer and Michelle start taking midnight yaught rides from Martha's Vineyard to the Hamptons, we will know for sure...

Mon, 08/22/2011 - 13:54 | 1586722 FreudianSlip
FreudianSlip's picture

Well done Truth...absolutely spot on.  One only has to know who sits in the office nearest his oval office desk to understand what truly drives the man and how he spends his time.  But, of course media will never bring any of the behind scenes into the open.  Media can't afford to lose their advertisers.  Has anyone else noticed all the silly government agency media advertising???  

 

Remember, wasn't it Arafat surrounded by gay personal body guards?  Didn't he really die of AIDS?  Was that another media coverup?  Amazing how massive amounts of money will let you cover up anything.  Now they use our tax dollars to cover up their frauds and keep us all in the dark.  Time to change who signs the government checks. He who controls the check book controls everything.

Mon, 08/22/2011 - 14:44 | 1587029 steelhead23
steelhead23's picture

Aw Sunshine, You've hit it out of the park.  For Mr. Buffet, to be asked for advice by the POTUS is the ultimate compliment, a true ego boost.  I gotta wonder, how much did Warren pay for that ego job?  We already know that Obama swallows.

Mon, 08/22/2011 - 17:52 | 1587803 IQ 145
IQ 145's picture

Jebus Christos, Warren could get him elected all by himself; assuming some familiarity with black bagging and off shore money accounts, etc. Oh, groan. I think Beer time is coming early today.

Mon, 08/22/2011 - 15:26 | 1587209 blunderdog
blunderdog's picture

This is all true, but hang on a minute...

...no one here really *believes* the preznit can "fix" the economy, do they?

I mean, come on.

Mon, 08/22/2011 - 16:06 | 1587356 Steaming_Wookie_Doo
Steaming_Wookie_Doo's picture

Well, he can "fix it" for friends.

Mon, 08/22/2011 - 16:33 | 1587496 faustian bargain
faustian bargain's picture

The best anyone can do right now is stop making the inevitable outcome worse and worse.

Mon, 08/22/2011 - 13:39 | 1586642 Silvergood
Silvergood's picture

Keep buying Gold and Silver...Heading a lot higher!!

Mon, 08/22/2011 - 13:39 | 1586645 Sudden Debt
Sudden Debt's picture

Raise petrol taxes for cars and subsidize transport by Train.

Ban Gold and Silver for the commoners.

Raise the taxes on Thee.

 

Mon, 08/22/2011 - 17:54 | 1587812 IQ 145
IQ 145's picture

Petrol ? I thought you were Flemish ? Do Flems have Petrol? I thought that was only the bloody pommies that had petrol.

Mon, 08/22/2011 - 13:39 | 1586646 williambanzai7
williambanzai7's picture

Hire me fire Immelt...

Mon, 08/22/2011 - 13:54 | 1586726 slaughterer
slaughterer's picture

Banzai, you are the best man for the job; in addition, fire all Fed FOMC members and replace them with Ron Paul, "Tyler Durden", "End the Fed", "Sudden Debt", "Sheep Dog One", "Baby Blythe" and "Turd Ferguson" (apologies for those I forgot: self-nominations are still being accepted).   

Mon, 08/22/2011 - 13:39 | 1586647 gaijin
gaijin's picture

If small business creates the jobs, why does the administration continue to lean on leaders of big business/big money in seeking advice? 

Mon, 08/22/2011 - 13:39 | 1586648 dwdollar
dwdollar's picture

"Tax the rich and more stimulus."

Mon, 08/22/2011 - 14:20 | 1586875 TheTmfreak
TheTmfreak's picture

Also probably create new legislative things to help boost industries, (of course those that help him) like death taxes and insurance companies.

Mon, 08/22/2011 - 13:40 | 1586653 crzyhun
crzyhun's picture

The Warren the Prune talks to Debt Man walking. Super, what could go wrong?

Mon, 08/22/2011 - 13:57 | 1586743 CPL
CPL's picture

Go long Berkshire.

Mon, 08/22/2011 - 14:21 | 1586880 TheTmfreak
TheTmfreak's picture

As much as I think this is an appropriate statement for this article, f that.

Who would take advice from this clown when his own company is doing shitty? Oh thats right, obamaclown.

Mon, 08/22/2011 - 13:42 | 1586662 Gmpx
Gmpx's picture

If Obama then calls Ron Paul for the second opinion...

Mon, 08/22/2011 - 13:42 | 1586665 Segestan
Segestan's picture

Gotta wonder what Warren charged the Tax paying Obummer for this Illuminated lunchin?

Mon, 08/22/2011 - 14:22 | 1586889 Confused
Confused's picture

You mean, how much of the taxpayers money did Obummer use to have lunch with Warren.

Mon, 08/22/2011 - 13:43 | 1586667 Dasa Slooofoot
Dasa Slooofoot's picture

Pave over the roads that already work.  Economic armageddon solved. 

Mon, 08/22/2011 - 13:43 | 1586669 SheepDog-One
SheepDog-One's picture

Buffet ran a successful economy and is therefore top economic advisor? Where?

Go ahead and print more Obama! Break gold up over $4,000 I'd love it!

Mon, 08/22/2011 - 13:46 | 1586675 disabledvet
disabledvet's picture

How DARE you disparage flounders by comparing them to Wells Fargo. I'm OUTRAGED!

Mon, 08/22/2011 - 13:45 | 1586676 max2205
max2205's picture

Ah, don't be so hard on the Beaver ....

Mon, 08/22/2011 - 13:45 | 1586678 FLIP THAT BOND
FLIP THAT BOND's picture

Buffet's smart, he'll tell Obama to raise interest rates so the US can produce more and get rid of our trade deficit. / sarc

Mon, 08/22/2011 - 13:46 | 1586681 erkme73
erkme73's picture

I've always wondered why anyone would want to be president.  From as far back I as I can remember, I've only held contempt for the position.  Even though I didn't understand what 'benefits' a president might exploit, it just seem rediculous that any sane person would want to put them selves in a position of so much (perceived) responsibility.  Who on earth would want to take a job when the whole world is circling the drain.  I thought that as a kid, too - back in the 70's.  Guess it shows I was an eternal pessimist from day one.

But, even now, where it's clear to just about everyone that the gig is up - the titanic is 2/3 under water- even now, the pres is still trying to do things to ensure he has another go at it in 2012.  Why?  If we even make it to 2012 before complete government implossion, who would want to be at the tip of the spear?  When SS agents, and all branches of law enforcement no longer receive paychecks - or what they receive is worthless paper - who's going to protect him?

 

 

Mon, 08/22/2011 - 14:00 | 1586767 JohnFrodo
JohnFrodo's picture

He would not run for another term, but it appears that only happens in cases where you got your job because the President was assainated. For gods sake keep Biden away from grassy knolls.

Mon, 08/22/2011 - 14:31 | 1586944 NOTaREALmerican
NOTaREALmerican's picture

Re: From as far back I as I can remember, I've only held contempt for the position.

 

And, yet, we're still here...

 

It's the ultimate power position.   If most politicians are sociopaths, what sociopath wouldn't want to be President of the greatest and most glorious nation in the entire universe?  

Mon, 08/22/2011 - 13:46 | 1586682 the not so migh...
the not so mighty maximiza's picture

the president needs a new rolodex

Mon, 08/22/2011 - 14:18 | 1586867 Translational Lift
Translational Lift's picture

He needs a new ADDRESS.....

Mon, 08/22/2011 - 17:58 | 1587824 IQ 145
IQ 145's picture

!! I'll vote fpr tjat ! A change I could believe in.

Mon, 08/22/2011 - 13:46 | 1586683 Josh Randall
Josh Randall's picture

Start buying Buffett's portfolio - because thats where the TARP/QE III fund is getting steered -- including THE SQUID that won't die

Mon, 08/22/2011 - 13:47 | 1586686 KowPie
KowPie's picture

He (Odumbo) wil stop at NOTHING to gain re-election. NOTHING. All stops will be pulled, any manner of mud slinging, illegal funding and outright voter fraud will be used this time around. Last time was mild compared to what's coming. Even with all that, he might still get smoked come election time. Get ready for the 24/7, in your face, non stop through November 7th, 2012, Odumbo the Saint show.... provided by all FCC licensed broadcasters, thank you very much.

Mon, 08/22/2011 - 13:47 | 1586687 SheepDog-One
SheepDog-One's picture

3 years in, and Obama just now wonders what he can do about the crap economic conditions, so he asks Warren Buffet? This has gone well past full retard.

Mon, 08/22/2011 - 13:56 | 1586740 Doyle Hargraves
Doyle Hargraves's picture

 This has gone well past full retard.- Question asked to Obama...

http://www.youtube.com/watch?v=2sBmUszhP_Q

Mon, 08/22/2011 - 13:57 | 1586746 the not so migh...
the not so mighty maximiza's picture

if i did not know better I think obama ran out of ideas or something

Mon, 08/22/2011 - 16:30 | 1587478 SirIssacNewton
SirIssacNewton's picture

OBummer has never had any ideas.  When did you think He has ever had any idea other than being a telepromter mouthpiece on remote control for the TPTB.

Mon, 08/22/2011 - 14:19 | 1586870 rosiescenario
rosiescenario's picture

Doesn't even have a clue where jobs do get created....just where campaign contributions come from....what he should be doing is to round up the founders of the last 400 successful start up companies that actually make something and employ someone and find out what could be done....the first thing, of course, being to reduce government regulation.

Mon, 08/22/2011 - 18:06 | 1587860 fwchiro
fwchiro's picture

If they've gone past full retard, we we're gonna have to go right to ludicrous speed.

Mon, 08/22/2011 - 13:48 | 1586692 Catullus
Catullus's picture

Offensive to both dogshit and buckets alike. Haha

Mon, 08/22/2011 - 13:48 | 1586696 Everybodys All ...
Everybodys All American's picture

Why not ask Becky Quick? This guy is beyond saving.

Mon, 08/22/2011 - 13:49 | 1586697 Randy Kruger
Randy Kruger's picture

Obama is trying to ride on Buffett's perceived credibility with the masses, created by many years of hardcore media propaganda for the master crony capitalist aka the "oracle".

Mon, 08/22/2011 - 13:49 | 1586701 JohnFrodo
JohnFrodo's picture

Buy more insurace son, you can never have to much.

Mon, 08/22/2011 - 13:49 | 1586702 ncdirtdigger
ncdirtdigger's picture

Buy and hold?

Mon, 08/22/2011 - 14:12 | 1586831 ejhickey
ejhickey's picture

Buy and hold only works for Gold

Mon, 08/22/2011 - 13:50 | 1586704 JohnFrodo
JohnFrodo's picture

If he asked George Soros, he would say buy seeds and turn your lawn into a garden.

Mon, 08/22/2011 - 13:51 | 1586708 Random_Robert
Random_Robert's picture

Great, Obama's getting advice from the economic equivalent of Rain Man...

Buffet is probably telling Obama that America needs to buy railroads.

Mon, 08/22/2011 - 13:52 | 1586711 the not so migh...
the not so mighty maximiza's picture

that was hillarious

Mon, 08/22/2011 - 13:58 | 1586750 Random Variable
Random Variable's picture

I'd probably bet that Rain Man, unlike Buffet, probably knew the difference between average and marginal tax rates.

Mon, 08/22/2011 - 16:10 | 1587371 falak pema
falak pema's picture

And to tax the penguins in Alaska. They are going to get rich when the ice cap melts and they start drilling seriously for oil in the Arctic.

Mon, 08/22/2011 - 21:10 | 1588476 spdrdr
spdrdr's picture

There's not that many penguins in Alaska, I'm afraid.........

Mon, 08/22/2011 - 18:00 | 1587835 IQ 145
IQ 145's picture

!! OMG He  might BE! that was funny.

Mon, 08/22/2011 - 13:52 | 1586712 valuetrader
valuetrader's picture

I suspect the Warren will come up with something like ''Our chief in command (Obama) should come out and guarantee the performance of our banks''. He did it before. Of course, he was thinking of the economy, not his huge blunders into financials.

Mon, 08/22/2011 - 13:52 | 1586713 mfoste1
mfoste1's picture

obama bin lyin should just resign and join the PGA, since hes been getting so much practice in....

Mon, 08/22/2011 - 14:08 | 1586814 SheepDog-One
SheepDog-One's picture

Shankopotamus.

Mon, 08/22/2011 - 15:10 | 1587149 pods
pods's picture

Love it!

Mon, 08/22/2011 - 17:42 | 1587765 KowPie
KowPie's picture

Classic.

Mon, 08/22/2011 - 13:53 | 1586716 Piranhanoia
Piranhanoia's picture

All the econo advisors in the whitehouse work for other banks right now, not buffie's personal bank.  Probably just a loan request.

Mon, 08/22/2011 - 13:54 | 1586719 JohnFrodo
JohnFrodo's picture

What I want Obama to do.

1) Call Eric Holder and arrest every motherfucker who should be arrested on wall street

2) Pardon every poor shit in jail for smoking or selling weed.

3) Come on TV and say you know that shit the Eiesnhower was talking about its matasticcised, so I am pulling US troops out of every country in in our emprie.

4) Name Micheal Bloomberrg vice president.

5) Resign

Mon, 08/22/2011 - 13:56 | 1586737 lolmao500
lolmao500's picture

Good on everything... But Michael Bloomberg? Are you kidding?

Mon, 08/22/2011 - 14:07 | 1586802 Randy Kruger
Randy Kruger's picture

Some reasonable expectations there ;-).  Don't ask for a handout; help to vote him out by supporting the only real candidate out there.

Mon, 08/22/2011 - 14:28 | 1586932 NOTaREALmerican
NOTaREALmerican's picture

Micheal Bloomberg?  

Mon, 08/22/2011 - 16:06 | 1587358 falak pema
falak pema's picture

I have a question : will Bloomberg make DSK an honorary citizen of NY when he gets cleared by the judge tomorrow? (According to media reports). After all DSK has done to make NY a hot spot this summer...For once, 'bitches' is an appropriate last word to sum up his performance... no offense meant to the purported victim.

Mon, 08/22/2011 - 14:52 | 1587064 Cruel Aid
Cruel Aid's picture

Bloomberg the emperor of NYC. What are you thinking! That guy must never leave New York.

Mon, 08/22/2011 - 13:55 | 1586728 Bastiat
Bastiat's picture

There was funny pic on Drudge of Obummer and Michelle in a car headed to the beach -- she had the ipod phones in . . . Drudge headline:  Michells gives him the iPod Treatment!

I don't think she was listening to one of his speeches. 

Mon, 08/22/2011 - 15:12 | 1587157 pods
pods's picture

Sir Mix Alot?

pods

Mon, 08/22/2011 - 13:55 | 1586729 MikeNYC
MikeNYC's picture

Screw Buffet.

Call Jim Rogers.

Mon, 08/22/2011 - 14:13 | 1586835 Doyle Hargraves
Doyle Hargraves's picture

Or Bill Bonner, Addison Wiggin, Peter Schiff...

Mon, 08/22/2011 - 14:35 | 1586960 grunk
grunk's picture

Or Jimmy Buffet.

Mon, 08/22/2011 - 18:04 | 1587854 IQ 145
IQ 145's picture

Fuck Yes ! Anything, anything, but not Wicked, Warped, Wily, old Warren.

Mon, 08/22/2011 - 13:55 | 1586730 lolmao500
lolmao500's picture

In other news, a great video about Fukushima.

http://www.youtube.com/watch?v=Ip4aMIXHd5s

Mon, 08/22/2011 - 13:55 | 1586732 monopoly
monopoly's picture

Oh damn, now we are really screwed.

At least we have a nice quiet, dull market today since it is the dog days of summer. Cannot wait until September when the volatility picks up a bit and there is more action. This is really slow.

jk

Mon, 08/22/2011 - 13:55 | 1586733 alien-IQ
alien-IQ's picture

Obama should come to ZH for economic advice.

We'll get this shit straightened out good and proper.

Mon, 08/22/2011 - 13:57 | 1586741 Bastiat
Bastiat's picture

All of his speeches would end with "bitches!"

Mon, 08/22/2011 - 14:13 | 1586838 alien-IQ
alien-IQ's picture

that would be an improvement already.

Mon, 08/22/2011 - 14:16 | 1586855 Bastiat
Bastiat's picture

I'd start listening just so i could hear it.

Mon, 08/22/2011 - 14:34 | 1586958 sdmjake
sdmjake's picture

Too Funny... Fireside Chat, Bitchez!

Mon, 08/22/2011 - 13:56 | 1586735 docj
docj's picture

Fore!

Mon, 08/22/2011 - 13:56 | 1586738 Stuck on Zero
Stuck on Zero's picture

Obama meets with Buffet.  Isn't that like Roosevelt meeting with Stalin at Yalta?

Mon, 08/22/2011 - 14:07 | 1586805 Random Variable
Random Variable's picture

I don't think that's a proper comparison. Stalin, Roosevelt, and Obama are all mass murderers, while Buffet is just a corporatist whore.

Mon, 08/22/2011 - 13:59 | 1586759 thunderchief
thunderchief's picture

The USA needs a WPA work program for the poor and unemployed.  Use treasury debt to pay for it and part ownership to the treasury holders. 

Buffet is like all of Obama's Advisers.  Abscond away with everything for you and your Wallstreet budy's.  Why did this guy ever get tangled up with this den of thieves? 

Mon, 08/22/2011 - 13:59 | 1586761 GenX Investor
GenX Investor's picture

The Octogenarian has finally been exposed for the cheater and table tilter his truely is.

 

Mon, 08/22/2011 - 14:03 | 1586780 Head_Shots_Work
Head_Shots_Work's picture

Why doesn't he just call Tyler? Tippecanoe and Tyler too will be the new presidential slogan - we need to find some way to make "Ron Paul" into "Tippecanoe" unfortunately - or find someone named Tippecanoe - or someone who lived in Tippecanoe - or whatever.

Mon, 08/22/2011 - 14:24 | 1586916 NOTaREALmerican
NOTaREALmerican's picture

If that Goldman guy can change his name to work as a lobbyist then Ron Paul should be able to change his name to Ron (or Paul) Tippecanoe.   Or even Toppecanoe Ron (or Paul) for that matter.  

Mon, 08/22/2011 - 14:03 | 1586782 Head_Shots_Work
Head_Shots_Work's picture

Why doesn't he just call Tyler? Tippecanoe and Tyler too will be the new presidential slogan - we need to find some way to make "Ron Paul" into "Tippecanoe" unfortunately - or find someone named Tippecanoe - or someone who lived in Tippecanoe - or whatever.

Mon, 08/22/2011 - 14:04 | 1586786 papaswamp
papaswamp's picture

'Infrastructure projects in Nat gas and Chinese made trubine wind farms?

Mon, 08/22/2011 - 18:10 | 1587876 IQ 145
IQ 145's picture

Nouriel Roubini, excuse me, Dr. Roubini, wants to spend the federal stimulus money on Solar Panels. If we;'re really lucky he might choke on a canape at a faculty party.

Mon, 08/22/2011 - 14:07 | 1586801 PulauHantu29
PulauHantu29's picture

Food stamps, unemployment benefits, car subsidies, house credits, tax credits, and so on are all QE in a way, just not as Hi-Powered as directly injecting money into th ebanking system via purchasing Treasuries.

I agree with GS that gold will hit $2,500 by end of year.

 

GL!

Mon, 08/22/2011 - 14:08 | 1586806 Vincent Vega
Vincent Vega's picture

Of course it will never happen but what if...

Buffett to Obama: "We're screwed. Best buy you some gold." 

Mon, 08/22/2011 - 14:08 | 1586809 Ausperity
Ausperity's picture

Obama 2012 slogan- "Don't hate the player, hate the game!"

Mon, 08/22/2011 - 14:10 | 1586810 Ausperity
Ausperity's picture

duplicate

Mon, 08/22/2011 - 14:18 | 1586862 NOTaREALmerican
NOTaREALmerican's picture

For GOD'S sake.   Krugman already spelled out the perfect plan to get the economy moving again:  a new Space Alien Defense Program.

We had nearly unlimited socialist prosperity - from the 50's through the 90's - with Big-MIC.    We had even more socialist prosperity with Big-Road, Big-Water,  & Big-Airport.   And who can doubt the socialist prosperity created with Big-Ag, Big-House, & Big-FIRE?    It's plain to see that Big-PoliceState isn't big enough to bring the socialist prosperity we all have expected it to bring.   So,  lets follow Krugman's dream and spend big - and prosper BIGGER - with a NEW and improved Big-SPACE.  

 

It's the final frontier of perpetual Keynesian prosperity!   To boldly go where no Keynesian has gone before.

(Cue Star Trek music).  

Mon, 08/22/2011 - 14:24 | 1586905 Long-John-Silver
Long-John-Silver's picture

We must take Krugman seriously. It should be obvious to everyone he is a Space Alien. He's here to crash the worlds economy so when his Alien buddies invade the populous will welcome them even if it means they become the main course of an all the Aliens can eat Buffet.

Mon, 08/22/2011 - 18:12 | 1587885 IQ 145
IQ 145's picture

"Of course the government should keep throwing dollars in the money hole; it's the American thing to do"----from a u-tube video. I'm too lazy to look it up; but it's funny.

Mon, 08/22/2011 - 14:19 | 1586873 Long-John-Silver
Long-John-Silver's picture

Lets impose a one time tax on Warren Buffett of 99% of everything he has. That would still leave him millions of US Dollars.

He brags about wanting to be taxed more every time he gets the chance on TV.

Mon, 08/22/2011 - 14:21 | 1586884 snowball777
snowball777's picture

Rickshaws for the commoners! <after Berkshire buys a major interest in a rickshaw manufacturing company, of course >

Mon, 08/22/2011 - 14:22 | 1586890 The Piker
The Piker's picture

Buffet is senile. Shame. Obama getting desperate to keep the ruse on this country alive

Mon, 08/22/2011 - 14:24 | 1586906 digalert
digalert's picture

.

Too funny

Baramas economic team, Buffet and PMSNBC's Mr Maddow.

Mon, 08/22/2011 - 14:24 | 1586911 you enjoy myself
you enjoy myself's picture

wait, let me guess.  tell the TOTUS to wait for the founder of a successful family business to die and force his heirs into a distressed firesale of that business because they have to come up with 50% (in cash, within a year) of the value of the business?

Mon, 08/22/2011 - 14:24 | 1586913 Silverhog
Silverhog's picture

I guess the secret Séance for John Keynesian never panned out. His luck, probably got Stonewall Jackson instead.

Mon, 08/22/2011 - 14:25 | 1586919 alien-IQ
alien-IQ's picture

Time to get the "GOLD at $1900" post ready to go.

Got to 1899.40...now a little pull back before the breakthrough...and then...2k...and so on and so on and so on...

Mon, 08/22/2011 - 14:26 | 1586923 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Since Buffet likes bailouts so much he should fund the next one.

Mon, 08/22/2011 - 14:27 | 1586928 gwar5
gwar5's picture

History of Buffet's advice:

-2001-03 Reinsurance businesses like AIG, a "ticking time bomb"

-2005 dollar to collapse, avoid USD

-2005-2007 buy stake in Chinese oil Co.

-2007-08 Buy Chinese factories and businesses

-2009 Obama's economic plan is "muddled"

-2010 gold is not a good investment

-2011 please tax the rich, even though I have a foundation to avoid giving the government any of mine because government spending is so wasteful and inefficient.

 

Buffet has been leaving and expatriating the USA for China with perky CNBC staff in his jet documenting the whole thing the last few years. Buffets advice to Obama is self serving, to say the least. It would be very nice if average people could at least convert to some Yuans. Buffet has already backed up his truck.

 

 

.

 

 

Mon, 08/22/2011 - 14:28 | 1586931 grid-b-gone
grid-b-gone's picture

Get your notes from that early '09 meeting with Bernanke, Geithner, and Volcker. See all the crossed out ideas? Those are Volcker's. That's your to-do list.

Mon, 08/22/2011 - 14:31 | 1586945 joak
joak's picture

I I I I I I I I I I think we gonna be fine, I I I I I I I I don't see all the bad news you are talking about !

Mon, 08/22/2011 - 14:35 | 1586965 SwingForce
SwingForce's picture

QE3 Buy Stocks! (Let banks buy stocks, The Fed buys BANK stocks) 

The Benbernank says: "I've got nuthin' to lose at all!"

"Well I've said it before, and I'll say it again
You get nothing for nothing: expect it when
You're backseat driving, and your hands ain't on the wheel
It's easy to go along with the crowd,
And find later on that your say ain't allowed
Oh that's the way to find what you've been missing

So I'm heading out to the highway
I got nothing to lose at all
I'm gonna do it my way
Take a chance before I fall
A chance before I fall!

You can hang in a left or hang in a right
The choice it is yours to do as you might
The road is open wide to place your bidding
Now, wherever you turn, wherever you go
If you get it wrong, at least you can know
There's miles and miles to put it back together!

And I'm heading out to the highway
I got nothing to lose at all
I'm gonna do it my way
Take a chance before I fall
A chance before I fall!

On the highway! On the highway!

Making a curve or taking the strain
On the decline, or ut on the wain
Oh everybody breaks down sooner or later
We'll put it to rights, we'll square up and mend.
Back on your feet to take the next bend!
You weather every storm that's coming atcha!

And I'm heading out to the highway
I got nothin' to lose at all
I'm gonna do it my way
Take a chance before I fall
Yes, I'm heading out to the highway,
I got nothing to lose at all.
I got nothing to lose at all!"

-J.Priest http://www.youtube.com/watch?v=Uk7iE0HUB1w

Mon, 08/22/2011 - 14:37 | 1586973 grunk
grunk's picture

Let's see...

The S & P downgrades the USA under Obama's stewardship and the S & P downgrades Berkshire Hathaway under Buffet's steward ship.

Yep, a lot of productive ideas coming out of this meeting.

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