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Obama Goes To Buffett For Economic Advice: More Taxpayer Bailouts Imminent
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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Obama to Buffet: I've fallen and I can't get up.
Buffet to Oblama: What??? Speak Up??? What???
Where is the beef?
The Bamster got it wrong, his staff told him to get some advice on the economy from Jimmy Buffet, not Warren ! After correcting his error, the new jobs / food program will be entitled "Cheeseburgers in Paradise."
Jay Carney revealed to the press "corpse" that Krugman's "Alien Invasion" was a close second for job stimulus however his boss didn't want to outsource the invasion to illegal aliens.
This just in ! A Clinton - Lewinsky "jobs" program is in the works. Also, the White House is said to be talking to Apple since they know alot about Jobs as well !
It's sad that politicians often leverage thier lack of knowledge and experience in finance & economics during a crisis. As a matter of fact, they often go beyond their core competencies.
Oh hey, these guys drop F-Bombs, I think they are both named Larry
Q & A http://www.xtranormal.com/watch/12373724/q-and-a-w-slash-with-larry
This is not the first time he has gone to the oracle and we see how far that has gotten him.....look for more of the same useless policies or rather lack of policies.
War Buff already gave his advice last week, raise taxes on the wealthy, aside from a few guffaws and a few nervous titters in the background NOBODY paid attention then and will not now when he repeats his advice.
If Obama wanted a response that would actually work he should have writen a letter to zerohedge years ago . Or maybe he could have just vetoed the 'original" bailout that the majority of Americans were against . Now here we are again, back to square one , banks about to collapse , unemployment is higher than ever and "we the people" are getting poorer each day . Now I am pretty sure the solution will be the same but this time the "illusion" everything is a okay will be much less than 3 years .
double post
QE to the moon...SPY to infinity. Warren needs to protect his derivatives book.
The real solution is just to have TOTUS have another meeting with the propaganda masters like he did last night with Roberts (Head of Comcast MSNBC) to be sure they are all on message on talking up the wonderful job the puppet has done, villifying constitutionalists and any soul opposed to buying stocks and more debt spending to continue the illusion we still have an economy.
http://gillreport.com/2011/08/obama-meets-with-comcast-nbc-ceo-in-martha...
OBAMA - Help me Mr Wizard
Buffet- Drizzel drazel druzel drone print some money and go home
Dating yourself on that one. I recall that cartoon as a young-un'.
In kleptocrat Amerika, Buffet devour you!
This is just big circle-jerk of the out-of-touch. Obama thinks he gains street cred talking to Warren and still thinks the Oracle of Omaha has cache' in the marketplace. O of O thinks it gets Becky Quick hot when he talks to the Prez.
I am just shocked he did not call Oprah for advice.
or rather look at what good obummer's econ team has acomplished to date, other than make the likes of Buffett a little richer than they already were......and here we are fucked up shit's creek.....hope you people are shorting the fuck out of this market cause I sure as shit am!
JPM & BAC down again today and markets going up? You bastards aren't fooling me.
Buffet is one of the sickest bitches around ! He should be in jail for insider trading.......sharing a cell with Soros and Barney Frankfurtfarter ! Monedas 2011 When the Arkansas elite hicks discover Socialism.......the end is near !
btw, asking a stock tycoon for advice? And what advice might he give? Let's see........we could start with moving more companies overseas for cheaper labor and slashing the workforce in order to drive up share prices thru increased profitability which in turn will boost consumer confidence and ignite spending.
That's precisely what's been going on and the whole thing is running a short-circuit loop. In other words we've displaced so many workers no one's buying shit.
Yes I realize much more to it than that I just wanted to give my kindergarten analysis. But then again PHD economist can't seem to get it right either so wtf. Tell you what........ill do your job for 1/2 the price and instead of presenting everyone with 10,000 pages of bullshit that absolutely no one can understand and is found to be wrong in the first place ill present everyone with a daily summary in easy to read format:
"WERE FUCKED." Your daily update by rsnobleconsultants,ltd.
Trillions to foreign countries, trillions on war, trillions to the banksters.........it's grandma's fault.
I want a check for the 15% i've had taken out of my checks for over 20 years right fucking now. I'm still trying to figure out how we can call something that's been taken from you an entitlement??
You watch.........they'll have everyone of us in tent city trying to save wall street and the rotten shit will still explode. Isn't there a rumor those idiots have the better part of $1000 trillion in bad debt derivatives??? If they don't collapse now it will be $1500 trillion in 2 years.
A little doggerel is in order:
The Oracle arose
Checked his stock - said "O-mama!"
It's time for some stimulus
Someone get me Obama
Buffet came on the line
Said "Let me advise you
Berkshire's collapsing
DC's a sideshow
If you cherish a hope
Of winning again
Then cough up the dough
My small puppet man"
Dutifully Barry
Cued up his speech
And told all the world
"Recovery's within reach
Just one more stimulus
Just a little more tax
Just one more bailout
Trust me - they'll pay it back"
And so off to the Fed
To the Treasury we go
To the Congress for sanction
In the DC sideshow
Deleted.
BUFFETT is staked in at GS isn't he?
TD,
'Oh wait, after everyone bailed on him, Obama has no economic advisors left at all. Carry on then. '
No matter, before they bailed, they did more damage than good.
He likley wouldhave gotten better advice from his daughters anyway.
As if The Oracle of Omaha is a "Captain of Industry". If a prez wants to talk with someone with their pulse on the real economy, you don't talk to a frigging "value investor" who feels guilty for not paying enough taxes.
If that's the way a prez wants to roll, he needs to speak to a variety of entrepreneurs, small business owners, mid-size, etc. etc. People who have to eat shit every day by govt. regulations, try to make payroll...you know what the hell I'm talkin' about. But Obozo doesn't.
Downloaded @ 17:37,
"If a prez wants to talk with someone with their pulse on the real economy, you don't talk to a frigging "value investor" who feels guilty for not paying enough taxes."
That comment by BUFFETOON was NOTHING more than a camera Op, and an Ed piece.
IF the ORACLE wanted to pay more taxes, all he has to do is cut the IRS a check, or Check the box on his return.
What a crock of shicekopf,or a momentary dementia moment,as he was changing his Depends.
I watched Buffett on Charlie Rose recently and I have to say I detected a hint of madness in the shrill tones of his boyish old man's voice. Obviously someone as psychotically obessed with money as WB is, will not be able to process so late in life the concept that all those billions he has acquired are actually worth perhaps only a fraction of what he assumed they were worth. One does not turn on one's LIFE OBSESSION and undermine its value by facing facts, but by holding on to the past and hoping to continue to believe until the final hour.
Now would that be more bailouts OF taxpayers, or more bailouts FROM taxpayers?
Behind every great fortune lies a forgotten crime
Balzac
His economic team bailed on him because they knew the ship was sinking except the captain of the ship.
Let me guess, more money printing so the rich can buy a second yahct and let the peasants eat cake.
Buffet has been a recent convert to MMT. Consequently, his advice to Obama will likely be rooted in chartalism, he will suggest massively expanded deficit spending targeted at mega-projects / create-work projects. A Hoover Dam kind of approach.
If I have to guess, it could be something like pouring money into a national alternative energy program, a re-factored, standardized, national electricity grid, or something like that. Perhaps the creation of large cash pools to be awarded as prizes for innovative ideas from the private sector, perhaps increased science spending. Not bad things per se, but, I might add, all things that would deliver profits to Buffett on a platter of course...
Exact projects are a guess, but what I'm 100% sure of is that Buffett will criticize Obama for being weak in the debt ceiling debate. 100% certainty that Buffet thinks expanded deficit spending is desirable, required and harmless. He will say so to Obama.
Our good old friend from Omaha who soaked the American taxpayers and now calls for higher taxes on the super rich and will lead us to an economic recovery?? lol!!. This MF is nothing but a phony. If not for Goverment bailouts, he would have folded in 2009.
Facts:
Berkshire Hathaway, in which Buffett owns 27 percent, according to a recent proxy filing, has more than $26 billion invested in eight financial companies that have received bailout money. The TARP at one point had nearly $100 billion invested in these companies and, according to new data released by Thomson Reuters, FDIC backs more than $130 billion of their debt.
To put that in perspective, 75 percent of the debt these companies have issued since late November has come with a federal guarantee.