Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

Skip to comments.

Billionaire Warren Buffet Says U.S. Economy has "Fallen Off a Cliff" - Video 3/9/09
Freedom's Lighthouse ^ | March 9, 2009 | BrianinMO

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 ...


TOPICS: Business/Economy; Politics
KEYWORDS: america2point0; billiondollarmarxist; buyersremose; economy; first100days; obamaendorsement; obamarecession; obamataxhikes; obamavoter; usefulidiot; warrenbuffet; warrenbuffett; worst100days

1 posted on 03/09/2009 6:25:19 AM PDT by Federalist Patriot
[ Post Reply | Private Reply | View Replies]

To: Federalist Patriot

ppl need to save and stop spending money they dont have


2 posted on 03/09/2009 6:27:20 AM PDT by 4rcane
[ Post Reply | Private Reply | To 1 | View Replies]

To: Federalist Patriot

ah, Buffet must have lost a Billion or two

It couldn’t have happened to a more deserving obama supporter


3 posted on 03/09/2009 6:27:25 AM PDT by silverleaf (Freedom's just another word for "nothing left to lose")
[ Post Reply | Private Reply | To 1 | View Replies]

To: Federalist Patriot

I disagree with Mr. Buffet....Hussein has pushed the economy off the cliff.


4 posted on 03/09/2009 6:30:21 AM PDT by Howie66 (The one redeeming thing about liberals: their tendency to kill their own.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: 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.

The US economy did not 'fall off a cliff', it was PUSHED off the cliff. Be happy Buffet, it is the 'economy' stupid!!!

5 posted on 03/09/2009 6:32:59 AM PDT by Just mythoughts
[ Post Reply | Private Reply | To 1 | View Replies]

To: Federalist Patriot
U.S. Economy has "fallen off a cliff." Buffet says

Mr. Buffet you shoved by supporting Obama.

6 posted on 03/09/2009 6:34:29 AM PDT by armymarinemom (My sons freed Iraqi and Afghan Honor Roll students.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Federalist Patriot

Obama shoved it over the cliff.

‘course, he had some help with a few RINOs.


7 posted on 03/09/2009 6:34:34 AM PDT by SoFloFreeper
[ Post Reply | Private Reply | To 1 | View Replies]

To: Just mythoughts

an Economic “Pearl Harbor.”

Yes, November 4, 2008... a day that will live in infamy.


8 posted on 03/09/2009 6:35:04 AM PDT by VA_Gentleman (Witty tagline omitted.)
[ Post Reply | Private Reply | To 5 | View Replies]

To: Federalist Patriot

“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!


9 posted on 03/09/2009 6:41:34 AM PDT by Syntyr (If its too loud your too old...)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Syntyr
No kidding. How could anyone possibly have believed that what happened in the real estate market was either logical or sustainable? I saw this coming years ago and knew it was unsustainable, and I'm a nobody, just a Joe Sixpack homeowner.

WTF?

10 posted on 03/09/2009 6:44:50 AM PDT by Zeddicus
[ Post Reply | Private Reply | To 9 | View Replies]

To: Federalist Patriot

Buffet is a died in the wool Obama hack and prop master.


11 posted on 03/09/2009 6:51:08 AM PDT by TADSLOS ( Join the Conservative Revolution! http://falconparty.com/)
[ Post Reply | Private Reply | To 1 | View Replies]

To: 4rcane
Warren Buffet in an interview with CNBC today saying in an interview that the U.S. Economy has "fallen off a cliff."

Personally, I think it was pushed off that cliff

12 posted on 03/09/2009 6:53:05 AM PDT by Smedley (It's a sad day for American capitalism when a man can't fly a midget on a kite over Central Park)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Just mythoughts
The US economy did not 'fall off a cliff', it was PUSHED off the cliff. Be happy Buffet, it is the 'economy' stupid!!!

Great and idle minds think alike

13 posted on 03/09/2009 6:53:44 AM PDT by Smedley (It's a sad day for American capitalism when a man can't fly a midget on a kite over Central Park)
[ Post Reply | Private Reply | To 5 | View Replies]

To: Just mythoughts
The US economy did not 'fall off a cliff', it was PUSHED off the cliff. Be happy Buffet, it is the 'economy' stupid!!!

Well, government has been working against market forces for one, one and a half decades now. Always "keep the bubble going", never caring about the fundamental factors of the real economy.
14 posted on 03/09/2009 6:57:27 AM PDT by wolf78 (Cranky Libertarian - equal opportunity offender)
[ Post Reply | Private Reply | To 5 | View Replies]

To: SoFloFreeper

Obama shoved it over the cliff.

I’d like to tell Warren Buffet, Obama voter, where to shove it.


15 posted on 03/09/2009 6:57:44 AM PDT by a fool in paradise ("Do you know the website number?" - VP Joe Biden)
[ Post Reply | Private Reply | To 7 | View Replies]

To: Syntyr
“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!

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.

16 posted on 03/09/2009 7:10:24 AM PDT by lentulusgracchus ("Whatever." -- sinkspur)
[ Post Reply | Private Reply | To 9 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson