Skip to comments.Billionaire Warren Buffet Says U.S. Economy has "Fallen Off a Cliff" - Video 3/9/09
Posted on 03/09/2009 6:25:19 AM PDT by Federalist Patriot
Here is video of Billionaire Warren Buffet in an interview with CNBC today saying in an interview that the U.S. Economy has "fallen off a cliff." Buffet says he has seen more drastic changes in American consumers than at any time in his lifetime. He believes the fear Americans have has changed their spending habits, and that will not be altered quickly.
Buffet said the core of the problem goes back to the belief that housing prices could only go up and never down, a belief he said everyone had - including himself. Buffet said this economic disaster will end, but it will take time. Buffet continued to liken the crisis to an Economic "Pearl Harbor." . . . . . . (Watch Video)
(Excerpt) Read more at freedomslighthouse.com ...
ppl need to save and stop spending money they dont have
ah, Buffet must have lost a Billion or two
It couldn’t have happened to a more deserving obama supporter
I disagree with Mr. Buffet....Hussein has pushed the economy off the cliff.
The US economy did not 'fall off a cliff', it was PUSHED off the cliff. Be happy Buffet, it is the 'economy' stupid!!!
Mr. Buffet you shoved by supporting Obama.
Obama shoved it over the cliff.
‘course, he had some help with a few RINOs.
an Economic “Pearl Harbor.”
Yes, November 4, 2008... a day that will live in infamy.
“Buffet said the core of the problem goes back to the belief that housing prices could only go up and never down, a belief he said everyone had - including himself.”
Well he is a Kool Aid drinking idiot if he truly beleives that...
Hell even I knew that house prices could come down!
Buffet is a died in the wool Obama hack and prop master.
Personally, I think it was pushed off that cliff
Great and idle minds think alike
Obama shoved it over the cliff.
I’d like to tell Warren Buffet, Obama voter, where to shove it.
Well, you're righter than Buffett.
This scenario is more like a falling souffle', than an object falling off a cliff. There's plenty left, only not as much as we thought, and we won't like it quite as much.
That said, remember that 85-90% of the people kept their jobs in the Great Depression. I remember getting a pep talk during the 1974 bear from an old retired salesman who told us, "Don't be discouraged, just do your job! I worked every day of the Depression, and I always had money in my pocket."
Easy to forget, with all the FDR-worshipping propaganda the country has stewed in for 60 years, like that offered up by the disgraced (but not disgraced enough for PBS, apparently) propagandist "historian" Doris Kearns Goodwin, wife of former "Camelot" flack Dick Goodwin.
Posters are right to remember that Buffett is close to Obama.
But add this to your thinking, that Buffett has been documented a couple of times bucketing the market, talking up a stock he sold after a short time. He'd say, "Yes, I'm buying XYZ common", and that would be true strictly speaking, he would indeed buy a few more shares after giving his interview puff to the stock, but then he'd sell, and people who bought in reliance on Buffett's reputation would suddenly turn into bagholders. Too, Buffett seldom deals in common stock -- he usually wangles a preferred issue out of the companies he jumps into, with special conversion rights and la-de-da -- not a straight-up purchase of plain-vanilla common that anyone can buy. Oh, no -- that's not how Warren makes his dough, forget what he's always telling you. It just ain't so.