Buffett: The economy has ‘fallen off a cliff' »
Posted By TechnologyExpert 9 months, 4 weeks ago in Business & FinanceBillionaire Warren Buffett said unemployment will likely climb a lot higher depending upon how effective the nation’s policies are, but he remains optimistic over the long term.
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TechnologyExpert
I am Editor-in-Chief at Alice Hill's RealTechNews (http://www.realtechnews.com). I also have my own blog (Tech-Ex) at http://TechnologyExpert.Blogspot.com. Finally ...
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stephen-johnson9 months, 4 weeks ago
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Buffett remains an Obama supporter in spite of his opposition to core Obama agenda items like card check and cap and trade. And as the owner (via Berkshire Hathaway) of corporate jet company NetJets, he admits that he uses corporate jets both for business and pleasure. Buffett then decries Obama for demonizing corporate jet users and the corporate jet industry as a whole.
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A little buyer's remorse starting to set in?-
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jimdoze9 months, 4 weeks ago
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NetJets is a big beneficiary of the demonization of corporate ownership of executive jets. As companies are forced to get rid of their aircraft, they will increasingly turn to NetJets for the same service they once provided themselves.
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As overall corporate jet usage inevitably declines in this environment, the big losers are the corporate jet manufacturers and their highly skilled workers. -
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MRCOFFEECAKE9 months, 4 weeks ago
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Buffett is not asking for government or taxpayer assistance.
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He can use any form of transportation that he wants to..
Can't you see the difference between he (who pays on his own) and
auto and bank executives who want more of OUR money to misuse?
Come on..apples to apples..ok??
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beavith19 months, 4 weeks ago
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its not buyers remorse. its frustration at getting whipsawed by being thrown in the stocks by the gov't.
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and Obama uses Air Force 1 to fly to Denver to sign the stimulus bill, while people that used to have good paying jobs working at netjets are now on the street or sitting on their hands.
i wonder how long its going to take Warren to wake up from his stupor and realize the real damage that is being done in the name of stimulus.
and Warren now says the economy fell off a cliff? LOL! he gets the MOTO award for the day. -
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jimdoze9 months, 4 weeks ago
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There is no doubt the economy had been falling. But, as it neared the edge of the cliff, the Obama-Reid-Pelosi nexus, in the name of saving it, has given it a strong push over the edge... with a combination of old-fashioned budgets, an energy policy out of touch with economic reality (cap & trade) and the totally misguided notion that capital and highly skilled labor needs no return to be productively deployed.
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FrankHummel9 months, 3 weeks ago
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I think I can understand WHY Mr. Buffett has been and remains a supporter of President Obama. I believe it must because he "invests" some hope and faith that the Obama crowd might actually GET SERIOUS about addressing this nation's REAL problems --- which are in fact TECHNOLOGICAL more than they are "economic" or "political".
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“Our” ADDICTIVE DEPENDENCY ON OTHER PEOPLES’ OIL?? After all, we in this country now KNOW FOR SURE --- originally by means of Hubbert-inspired statistical analysis of patterns of past discoveries of the stuff, now CONFIRMED by many years of rather exact EXPLICIT MAPPING OUT of reserves (applying sonographic and other techniques), that we have at this point in fact USED UP (and indeed rather PROFLIGATELY!) about 70% of “our OWN” Providential endowment of raw oil --- and specifically the “easy” stuff! The remainder, which the “drill, baby, drill” crowd is now hot to go after, is at this point to be found only in low-capacity “stripper” wells, or under water, or somewhere north of the Arctic Circle, or WAY DEEP. (The largest known reserve in the “lower 48” lies FOUR MILES DOWN!) ALL SUCH OIL IS VERY EXPENSIVE TO “PRODUCE” --- which means that it would NOT be possible to shave very much (if anything) off the “price at the pump” merely by aggressively exploiting such declining resources.
Indeed, THAT is what has ACTUALLY given rise in the first place to the whole current (rather “lucrative”) “model” of AGGRESSIVE EXPROPRIATION (or very expensive ATTEMPTS at doing so!) of the endowments of OTHERS elsewhere in the world --- and the subsequent transportation of the “booty” thousands of miles to be refined, distributed, and marketed (with, of course, endless opportunities for “profit” and “taxation” at every step along the way). All the while, of course, “we” PRETEND to each other and “our”selves --- BY ARTIFICIALLY EXCLUDING FROM EXPLICIT CONSIDERATION all the “ancillary” (for example all those “military”) costs, that ACTUALLY DO ADD IN to its OVERALL TRUE cost --- that the end result is somehow “cheaper” than the alternatives would be! People may not WANT to “connect the dots”, but $10 BILLION A MONTH for the care and feeding of all those Sunni Militias in Iraq in order to “keep the lid on and the OIL flowing” REALLY IS A “HIDDEN” PART OF THE COST OF THAT OIL. --- and THAT, of course, does not even BEGIN to address all the IMPONDERABLE costs of about a million or so people BUTCHERED and millions more made REFUGEES by way of all the “collateral damage” wrought / unleashed by “us” in the course of THAT whole obscene (misad)“venture”!
Now of course the Oil Industry is NOT going to simply GO AWAY. Its products are VITALLY NEEDED as the CHEMICAL FEEDSTOCKS for a GREAT MANY things that “we” manufacture and use every day --- especially many different PLASTICS and other types of basic materials --- among them ASPHALT for our roadways, and polyvinyl-chloride used in water and gas pipes and electrical conduit and all that SIDING used in building. But “we” DESPERATELY need to QUIT BRAINLESSLY BURNING THE STUFF UP AS A MERE FUEL! So we are now STILL going to have to pursue the alternatives ANYWAY --- even AFTER now having FOOLISHLY BLOWN the economic advantages that we not so very long ago had enjoyed, which could have substantially EASED what will surely be a very DIFFICULT transition --- BRILLIANT, people!!
Better GET BUSY ACTUALLY WORKING ON ALL THE (MANY) ALTERNATIVES, folks. For if "WE" don't do so, then you CAN BET YOUR LAST DOLLAR (and come to think of it, that IS about what “we” actually ARE getting down to!) that OTHERS ELSEWHERE (particularly the many, many folks over there in ASIA!) WILL indeed do so! -
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