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Warren Buffett to CNBC: "We're Still In a Recession"


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http://www.cnbc.com/id/39320992

 

Sounds a little different than his recent statement that we will not see a double dip isn't?

 

I am starting to wonder what's his agenda. Was it to help the Democrats?

 

Please don't get me wrong, I still respect Warren and I am grateful for his teachings, but I liked the guy much more when he was giving very few interviews.

 

On the other hand, instead of wasting time with Becky, I would much rather see the guy help his country by straightening things up a bit. There are many issues that he could help fix with his power and influence. It would be a big act of charity. 

 

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http://www.cnbc.com/id/39320992

Sounds a little different than his recent statement that we will not see a double dip isn't?

I am starting to wonder what's his agenda. Was it to help the Democrats?

Please don't get me wrong, I still respect Warren and I am grateful for his teachings, but I liked the guy much more when he was giving very few interviews.

On the other hand, instead of wasting time with Becky, I would much rather see the guy help his country by straightening things up a bit. There are many issues that he could help fix with his power and influence. It would be a big act of charity. 

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Times are different for sure. I get the sense that WEB is trying to help the country in his own way. He has put over $50 B into "America" since 2008 via BNI, GS, GE, WFC etc. For much of this decade before 2008, did'nt we hear from WEB that he was not finding any values in the USA? So much that he was actively courting foreign investors, including the extra hour for them at the ASM.

 

Now, the soundbites have indeed increased over the past year but is this not what he is best at? Never mind that anything he said over the past two decades was pretty much dismissed by the media as senility in the brave new world! Now they are forced to listen to him while most are eating crow.  Of course he is going to be quoted out-of-context etc but that is not the media's problem alone. We are a headline crazy world. The world post-2008 is one where business leaders across the board have lost all credibility and it is upto WEB et al to to keep some dialogue going. WEB may not be right about everything he says but I love the soundbites.

 

And for me, with WEB getting time to go to the media often, I hope it also means that someone else is running the business of BRK with or without an announced succession.  ;DThis is probably the best way for the transition to happen at BRK.

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From the beginning, I have envisioned and spoken about Mr. Buffett taking a role the way he has been in the marketplace. Yes, a similar role as JP Morgan did during the Panic of 1907.

 

However, I did envision one other thing which would probably have his father smiling in heaven, if it were even remotely possible.

 

That goes back to The Quick Girl's question to him on politics, where when asked to respond to the most important question he stated that he asks would be leaders all the time, he said, "I didn't ask him." 

 

If I were Obama being asked what I would do or enact contrary to my own party's interests, I would have told him, Mr. Buffett, whether contrary or not to my own party's best interests, if I am elected President, I am going to incarcerate you to the US Treasury, so that you can run our great nation's finances, and restore us to prosperity again!

 

I won't implement that stick without a carrot, however.

 

As you "dance to work" in DC, I will structure a compensation package which rewards you on a percentage basis of your "successes" which exceed a "high water benchmark." 

 

Mr. Buffett, as a result, you will have a pool of money to earn from, far greater than your Berkshire holding company today.

 

Good sir, let's get to work! On the other hand, if you would like to offer your "gifts and talents" free to your brothers and sisters of America, we will kindly accept it!  ;D     

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> Sounds a little different than his recent statement that we will not see a double dip isn't?

 

Doesnt seem different to me after having listened to both the interviews fully. Is the situation improving - yes. Is it where it was - no? Are there a lot of people suffering - yes. Are we generally better off compared to where we were in Dec 2008 and in 2009 - yes.

 

 

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I think that when WEB said there would be no double dip, he was referring to the NBER definition of recession. 

 

But in his opinion, a better definition of "recession" would incorporate the employment status/financial health of the population rather than just focusing on GDP.  By that definition, we're clearly still in a recession. 

 

 

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