Why register with the Steelers Fever Forums?
 • Intelligent and friendly discussions.
 • It's free and it's quick. Always.
 • Enter events in the forums calendar.
 • Very user friendly software.
 • Exclusive contests and giveaways.

 Donate to Steelers Fever, Click here
 Our 2014 Goal: $450.00 - To Date: $450.00 (100.00%)
 Home | Forums | Editorials | Shop | Tickets | Downloads | Contact Pittsburgh Steelers Forum Feed Not Just Fans. Hardcore Fans.

Go Back   Steelers Fever Forums > Miscellaneous > Locker Room


Steelers Fever Fan Shop

Doc's Sports Get FREE NFL Picks and College Football picks as well as Football Lines like live NFL Lines and updated NFL Power Rankings all at Doc's Sports Service.

Steelers Fever Presents...

Steelers Panthers

GAMEDAY
Sunday, September 21, 8:30 PM
NBC
Reply
 
Thread Tools
Old 05-02-2009, 11:50 PM   #1
tony hipchest
IRONMAN a.k.a. Tony Stark
 
tony hipchest's Avatar
 

Join Date: Sep 2005
Location: Give me back my game...
Posts: 39,256
Member Number: 658
Thanks: 1,903
Thanked 8,189 Times in 3,490 Posts
Default now is time to PANIC! uber capitalist Warren Buffett....

Buffett says government is doing the right things

http://news.yahoo.com/s/ap/20090502/...shareholders_8

Quote:
OMAHA, Neb. – Billionaire Warren Buffett spent Saturday praising the decisions U.S. officials made to right the economy in the midst of a "financial hurricane" and defending the ones he made to help his company navigate the storm.

The state of the economy and Berkshire Hathaway Inc.'s recent performance were among the first things addressed at the shareholders' meeting. Roughly 35,000 people packed an arena and overflow rooms to listen to Buffett and Berkshire Vice Chairman Charlie Munger answer questions for more than five hours.

"Overall, I commend the actions that were taken," Buffett said. But he said no one should expect perfection because the economy experienced a "financial hurricane."

But Buffett said he can't predict how quickly the economy and the markets will improve. He said last fall that the U.S. was facing an "economic Pearl Harbor."

To illustrate the challenges the nation faced last year, Buffett showed a sales receipt for $5 million in U.S. Treasury bonds that Berkshire sold in December for $90.07 more than face value, ensuring a negative return for the buyer. Buffett said he doesn't think most investors will see negative returns on U.S. bonds again in their lifetimes.

"It's been a very extraordinary year," he said.

The economy, succession at the top of Berkshire and the state of the company, which last year had its worst year since Buffett took over in 1965, were on the minds of many shareholders.

Berkshire's Class A stock lost 32 percent in 2008, and Berkshire's book value — assets minus liabilities — declined 9.6 percent, to $70,530 per share. That was the biggest drop in book value under Buffett and only the second time its book value has declined.

But despite Berkshire's rough year — which was depressed by unrealized multibillion-dollar derivative losses — the company still outpaced the market index Buffett uses as a measuring stick. The S&P 500 fell 37 percent in 2008.

Berkshire reported a 2008 profit of $4.99 billion, or $3,224 per Class A share. That was down 62 percent from the previous year, but better than many companies.
this buffett guy sounds familiar. oh thats right, he was the guy tabbed by mccain as a possible treasury secretary who said thanks but no thanks and that he was voting for obama.

http://hubpages.com/hub/Warren-Buffe...d-the-Bail-Out

Quote:
Warren Buffet of Berkshire Hathaway appeared on the Charlie Rose show the other night. To my amazement, he told Charlie that he planned on voting for Barack Obama for president.

He told Charlie that under McCain he and other wealthy individuals have grown wealthier over the past six or seven years under Bush and would continue to do so under McCain. He said under the current tax laws, the person who empties his trash cans pay more in taxes that he and other wealthy individuals pay.

Buffet also indicated that the bail out (excuse me, rescue) bill needed to pass, which as you know has happened. He said that, if done right, taxpayers will make a profit, but it will take time.

In Buffet’s opinion, Paulson is a very capable individual and should be left to do his job. Give him the money and get out of his way so he can do what he does best. Buffet felt that oversight was fine, but not interference.

On a sad note, Buffet warned that the economy will continue to get worse for some time even with the passage of the bill.

Charlie asked him to predict how long before a recovery starts to happen. The answer was anywhere from six months to five years or maybe longe and that's only if the bail out works.

If you want to view the entire interview go to: http://www.charlierose.com/shows/200...-warren-buffet.
i gotta take the word of this guy over a bunch of keyboard jockeys who are entrenched in panic and doom and gloom, and cling to the myth that obama is the reason all our kids and childrens children wil be inheriting our debt.
__________________
tony hipchest is offline   Reply With Quote
Old 05-03-2009, 12:24 AM   #2
steelwall
Head Coach
 
steelwall's Avatar
 

Join Date: Feb 2008
Posts: 1,610
Member Number: 8225
Thanks: 0
Thanked 0 Times in 0 Posts
Default Re: now is time to PANIC! uber capitalist Warren Buffett....

I don't know man, after you get pass all the Mcain, Obama jazz, and who he voted for he's saying 'if' the bailout works it 'could' be 6 months 5 years or 'maybe' longer if it works at all.

I wouldn't say he's going out on a limb here...
__________________
steelwall is offline   Reply With Quote
Old 05-03-2009, 12:34 AM   #3
Preacher
Living Legend
 

Join Date: May 2010
Posts: 3,890
Member Number: 16327
Thanks: 0
Thanked 1 Time in 1 Post
Default Re: now is time to PANIC! uber capitalist Warren Buffett....

What tony continues to fail to realize, is that there are those who have a foundational belief that govt. should NOT be involved in the financial world except to passively make sure people play by the rules, and then there are those who beleive the govt. SHOULD be involved in the financial world, leveling the playing field and tilting it in different directions as the tides of the economy shift.

Warren Buffet belongs to the latter, as does Obama AND McCain. That was why many true conservatives really didn't want to vote for McCain.

Now I sit and await the spin.
Preacher is offline   Reply With Quote
Old 05-03-2009, 12:35 AM   #4
tony hipchest
IRONMAN a.k.a. Tony Stark
 
tony hipchest's Avatar
 

Join Date: Sep 2005
Location: Give me back my game...
Posts: 39,256
Member Number: 658
Thanks: 1,903
Thanked 8,189 Times in 3,490 Posts
Default Re: now is time to PANIC! uber capitalist Warren Buffett....

Quote:
Originally Posted by steelwall View Post

I wouldn't say he's going out on a limb here...
you must not follow his investments. atleast he can put his money where his mouth is.
__________________
tony hipchest is offline   Reply With Quote
Old 05-03-2009, 12:42 AM   #5
steelwall
Head Coach
 
steelwall's Avatar
 

Join Date: Feb 2008
Posts: 1,610
Member Number: 8225
Thanks: 0
Thanked 0 Times in 0 Posts
Default Re: now is time to PANIC! uber capitalist Warren Buffett....

Quote:
Originally Posted by tony hipchest View Post
you must not follow his investments. atleast he can put his money where his mouth is.

No I have not, I don't really care about his investments (however I would assume he is more confident in his investments than he apparently is about the bailout)
__________________
steelwall is offline   Reply With Quote
Old 05-03-2009, 12:52 AM   #6
tony hipchest
IRONMAN a.k.a. Tony Stark
 
tony hipchest's Avatar
 

Join Date: Sep 2005
Location: Give me back my game...
Posts: 39,256
Member Number: 658
Thanks: 1,903
Thanked 8,189 Times in 3,490 Posts
Default Re: now is time to PANIC! uber capitalist Warren Buffett....

well i guess its all relative if one just lets a headline tell a story-

Buffett dispenses gloom at Berkshire fest

http://news.yahoo.com/s/nm/20090502/...VmZmV0dGRpc3Bl

Quote:
OMAHA, Nebraska (Reuters) – Warren Buffett told a record crowd at a somber annual meeting of his Berkshire Hathaway Inc that first-quarter operating profit fell and the company's book value declined 6 percent, as the recession hurt many of the company's businesses and investments.

Operating profit fell about 12 percent from a year earlier to $1.7 billion, as most of Berkshire's businesses were "basically down," Buffett told an estimated 35,000 people at the meeting in downtown Omaha.

The decline in book value results in part from falling stock prices and higher losses on derivatives contracts, and comes on top of a 9.6 percent decline last year, the biggest drop since Buffett began running the company in 1965.

Buffett acknowledged that Berkshire will probably lose money on derivatives tied to the credit quality of junk bonds, though he still expects to make money on a much larger and longer-term derivatives bet that stock prices will rise.

Berkshire's cash stake fell to about $22.7 billion on March 31 from $25.5 billion at year end, Buffett said. Berkshire expects to report results on May 8.

The outlook punctuated a meeting that had a decidedly more serious and somber tone from years past as many investors expressed worries about the economy, Berkshire's investments, and how long the 78-year-old Buffett plans to stay on the job.
never assume.

berkshire hathaway is like a microcosm of the entire US economy. people like him are the economy. they ebb and flow together. and while he is realistic about near term growths, he has never waivered in his confidence in america or its core.
__________________
tony hipchest is offline   Reply With Quote
Old 05-03-2009, 12:58 AM   #7
steelwall
Head Coach
 
steelwall's Avatar
 

Join Date: Feb 2008
Posts: 1,610
Member Number: 8225
Thanks: 0
Thanked 0 Times in 0 Posts
Default Re: now is time to PANIC! uber capitalist Warren Buffett....

Quote:
Originally Posted by tony hipchest View Post
well i guess its all relative if one just lets a headline tell a story-

Buffett dispenses gloom at Berkshire fest

http://news.yahoo.com/s/nm/20090502/...VmZmV0dGRpc3Bl

never assume.

berkshire hathaway is like a microcosm of the entire US economy. people like him are the economy. they ebb and flow together. and while he is realistic about near term growths, he has never waivered in his confidence in america or its core.
What are you talking about? I went off the links and articles you provided. Doesnt seem like he's so confident...I say again.

Maybe he should have got down off his horse and tried to help the country by accepting the job, if he's such a great economist, instead of trying to make a political statement.

Edit :

Quote:
Charlie asked him to predict how long before a recovery starts to happen. The answer was anywhere from six months to five years or maybe longe and that's only if the bail out works.
Sounds like some assumptions here.... I can say this too, heck anyone could... again 'out on a limb' he is not.
__________________
steelwall is offline   Reply With Quote
Old 05-03-2009, 01:15 AM   #8
tony hipchest
IRONMAN a.k.a. Tony Stark
 
tony hipchest's Avatar
 

Join Date: Sep 2005
Location: Give me back my game...
Posts: 39,256
Member Number: 658
Thanks: 1,903
Thanked 8,189 Times in 3,490 Posts
Default Re: now is time to PANIC! uber capitalist Warren Buffett....

Quote:
Originally Posted by steelwall View Post
What are you talking about? I went off the links and articles you provided. Doesnt seem like he's so confident...I say again.

Maybe he should have got down off his horse and tried to help the country by accepting the job, if he's such a great economist, instead of trying to make a political statement.

Edit :



Sounds like some assumptions here....
i get it! you just have to blindly side with the doom 'n gloomers (perhaps its the cool thing to do) and will believe them over the 2nd richest person in the world and act like he has no clue what he's talking about.

you expect him to be all "rah rah" and blow smoke up peoples ass when he is addressing all his shareholders? that is not what a CEO does and that is not what a good leader does. when peoples lives, investemts, and well being are on the line, they want the truth. not a load of bullshit.

this is why bush failed when he got on that aircraft carrier and yelled "rah, rah... the war is over and has been won".

its obvious you dont buy buffett as a credible source. tell you what...

the next time you wake up and put on the fruit of the looms, hop into your car insured by GEICO, drive through the wells fargo to make a withdrawl, and go get an ice cream at dairy queen... think to yourself "holy shit! buffett's company owns all of this. maybe he does know a thing or 2 about the economy."



Quote:
I can say this too, heck anyone could... again 'out on a limb' he is not.
yes, you can say this too. what will that get you? 3 or four rep hits on this board? buffett can say it infront of 35,000 of his investors (with many more listening and following along and he has national influence.

dont say you havent been told. i'll take the word of real life intelectuals and continue to laugh at all the doom n gloomers who think their opinions on blogs make them internet or media savants.

put your money where your mouth is. you say you can go out on a limb, so lets hear what you really think that contradicts an expert.
__________________
tony hipchest is offline   Reply With Quote
Old 05-03-2009, 01:24 AM   #9
steelwall
Head Coach
 
steelwall's Avatar
 

Join Date: Feb 2008
Posts: 1,610
Member Number: 8225
Thanks: 0
Thanked 0 Times in 0 Posts
Default Re: now is time to PANIC! uber capitalist Warren Buffett....

Quote:
Originally Posted by tony hipchest View Post
i get it! you just have to blindly side with the doom 'n gloomers (perhaps its the cool thing to do) and will believe them over the 2nd richest person in the world and act like he has no clue what he's talking about.

you expect him to be all "rah rah" and blow smoke up peoples ass when he is addressing all his shareholders? that is not what a CEO does and that is not what a good leader does. when peoples lives, investemts, and well being are on the line, they want the truth. not a load of bullshit.

this is why bush failed when he got on that aircraft carrier and yelled "rah, rah... the war is over and has been won".

its obvious you dont buy buffett as a credible source. tell you what...

the next time you wake up and put on the fruit of the looms, hop into your car insured by GEICO, drive through the wells fargo to make a withdrawl, and go get an ice cream at dairy queen... think to yourself "holy shit! buffett's company owns all of this. maybe he does know a thing or 2 about the economy."



Yeah whatever with that...

Call me crazy but I think if you are that great, and you have that skill set, why not use it to help the people of this country? Why say who you're gonna vote for at all? Most people in high positions don't make that public knowledge.... hmmm...unless....maybe their is another agenda....I gave my set of skills to this country and I didn't allways like who was in charge. Effectively putting no money were my mouth is...

You made it a point to say his .... sounds to me like thats all he's worried about....
__________________
steelwall is offline   Reply With Quote
Old 05-03-2009, 01:42 AM   #10
tony hipchest
IRONMAN a.k.a. Tony Stark
 
tony hipchest's Avatar
 

Join Date: Sep 2005
Location: Give me back my game...
Posts: 39,256
Member Number: 658
Thanks: 1,903
Thanked 8,189 Times in 3,490 Posts
Default Re: now is time to PANIC! uber capitalist Warren Buffett....

Quote:
Originally Posted by steelwall View Post


Yeah whatever with that...

Call me crazy but I think if you are that great, and you have that skill set, why not use it to help the people of this country? Why say who you're gonna vote for at all? Most people in high positions don't make that public knowledge.... hmmm...unless....maybe their is another agenda....I gave my set of skills to this country and I didn't allways like who was in charge. Effectively putting no money were my mouth is...

You made it a point to say his .... sounds to me like thats all he's worried about....
you wont like this and it may not sound pretty but in amercia he is considerd the "king" whereas the ones who put no money where their mouth is are just the "pawns". that is capitalism and part of what you fought for, and put your life on the line to protect (i aint gonna blow smoke up your ass- its the truth).

for you to poo-poo his assumption leads me to believe you have never played the stock market. that is the backbone of our economy, which leads me to believe you may not even fully understand why the WTC was the symbolic target of the terrorists strike.

buffet also gives his set of skills to this country. according to you ribs, asking him to take a much lower pay to "help" all the other people in this country would be "socialist" do you now support socialism? why make $100,000 per year when you can make billions? that is about as anti capitalistic and anti american as it gets. take a look at his philanthropic endeavors and you will see he does plenty for people on a much grander scale than taking a seat in washington.

PLUS why would he agree to be treasury secretary to a potential presidential candidate he most likely knew was either wrong or going to lose.

obama didnt ask him to be TS.

either way anything warren buffet is quoted as saying in this thread is a billion times more credible than anything you have offered up.

thanks for playing. my point has pretty much been proven.
__________________
tony hipchest is offline   Reply With Quote
Reply

Bookmarks


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On

Forum Jump


All times are GMT -5. The time now is 02:21 AM.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
Shoutbox provided by vBShout v6.2.1 (Lite) - vBulletin Mods & Addons Copyright © 2014 DragonByte Technologies Ltd.
User Alert System provided by Advanced User Tagging v3.0.8 (Lite) - vBulletin Mods & Addons Copyright © 2014 DragonByte Technologies Ltd. Runs best on HiVelocity Hosting.
Navbar with Avatar by Motorradforum
no new posts