Why Warren Buffett is a lying sack of falsities......
You see, like Alstry, Warren is a pretty good fundemental analyst. In addition, he has a much stronger background than Alstry analyzing financial institutions....which definitely gives him the edge over Alstry when it comes to the following:
Warren KNOWS that America has about $55 trillion dollars of outstanding debt...MOST of the debt is NON Treasury debt in the form of mortgages, commecial loans, credit card debt, municipal debt, student loans, agency debt, etc........
At an average interest rate charged of 6%, America has about a $3 Trillion dollar per year interest liability simply to service that debt. Or to put it another way, everyday America adds about $10 Billion dollars of NEW liabilities onto its balance sheet that it must service or else the debt will default.
THAT IS ABOUT $300 BILLION PER MONTH SIMPLY TO SERVICE DEBT!!!!!!!!!!!!!!!!
In other words, America MUST come up with $10 BILLION NEW dollars each day to service our outstanding debt that this generation accumulated over the past 30 years OR ELSE YOU ARE 100% MATHEMATICALLY CERTAIN THAT IT IS IMPOSSIBLE TO SERVICE THE DEBT COLLECTIVELY. Warren understands this little problem very well....as a matter of fact, much better than Alstry.
Under Greenspan, banks were lending trillions each year in the form of private equity loans, mortgages(both commercial and residential), home equity loans, etc.........consequently the economy boomed and the debt could be serviced because even though the outstanding balance was growing rapidly, the banks were lending enough NEW MONEY to cover theMONTHLY interest payments.
But in 2006/7...banks slowed lending dramatically and have NEVER picked back up. Warren knows this too bacuase just as the banks stopped lending, he shut down his insurance company insuring small banks.
You see, Warren KNOWS it is IMPOSSIBLE to service $55 trillion dollars of outstanding domestic debt when banks are paying practically nothing to save, cutting back credit to the private economy, and we are a NET importing nation.
....Warren knows that under the current policy, America's economy will implode. HE IS CERTAIN OF THIS....... Just like Warren knew that Berkshire Hathaway couldn't continue to remain competitive making suit linings so he shut the business down, fired all the workers, and liquidated the assets.
NOW IT APPEARS HE IS DOING THE SAME THING TO AMERICA..............ALONG WITH THE REST OF WALL STREET
Why does Alstry have a bug up his backside about Warren lying to you saying there is no double dip? Because Warren got bailed out by the taxpayers so he is now on the dole........while millions of those same taxpayers are losing their jobs, their homes, and life's savings.
AND WHAT IS AMAZING IS SO MANY REMAIN SILENT AS WE ARE BEING ASSAULTED BY WALL STREET AND THE PAID OFF POLITICAINS.....
Any wimp that get's bailed out by the taxpayers and then turns around and lies to the taxypers as they get cut off of credit deserves NO respect. Something happened to Warren.....he now lies just like those he used to admonish......which makes him the biggest hypocrite of them all.