Is Buffett Terminal or Lying?
September 13, 2010
– Comments (5)
Either Warren Buffett must knowingly be dying from a terminal illness or else he thinks there is a high probability of a terrrorist attack or game changing event to relieve him from the following quotes made today:
“I’ve seen sentiment turn sour in the last three months or so, generally in the media,” Buffett said. “I don’t see that in our businesses. I see we’re employing more people than a month ago, two months ago.”
“It’s night and day from a year, year and a half ago,” Buffett said. “I know Wells Fargo, they would love to have $50 billion more of loans now. Go in and talk to the banker.”
http://finance.yahoo.com/news/Buffett-Rules-Out-DoubleDip-bloomberg-2228875511.html?x=0
First of all, few are as good a macro and micro analyst as Buffett. But what makes him so good is not his IQ, which is strong, but his temperment and capacity to spot the key issues.
Buffett is very aware that government is collectively running close to a $2 trillion dollar deficit right now without factoring entitlement shortfalls. Buffett further understands that such deficit is unsustainable.... and absent such deficit, our nation would be in the largest depression in our history.
But the dead bang give-a-way is the Wells Fargo comment.....$50 Billion? For a nation with over $50 trillion of debt and not paying its savers much of anything, $50 billion is a mere pittence. It was just a few years ago Wells Fargo was making HUNDREDS OF BILLIONS of dollars of loans that it is not making today.....
We were making about a trillion dollars in home equity loans which are not being made today....billions in mortgages that are not being made today.....same with commecial real estate loans.....and credit card loans......
BUFFETT IS LYING THROUGH HIS TEETH AND ANYONE WITH A OUNCE OF COMMON SENSE COULD MAKE MINCED MEAT OUT OF HIM IN A PUBLIC DEBATE.....BUT REST ASSURED, SUCH DEBATE WILL NEVER OCCUR.
Go back and read Buffett's earlier writing and how he used to admonish debt.......especially government deficits.....and now....silence........
My guess is Buffett is dying from a terminal disease or else he thinks a major terrorist attack/war right around to the corner to give him an excuse for being "wrong." about no double dip.......
it appears we shall soon find out.....
PS: remember, when Buffett started out his career....he fired all the workers at Berkshire Hathaway and liquidated the business and took the proceeds and invested......now maybe Buffett is thinks America is about to be liquidated and he is preparing to invest the proceeds somewhere else?
Are you prepared to be liquidated?
RSS Headlines
Fool UK