Business

‘I Don’t Get It’: Warren Buffett Tells Fox Business — Downgrade Doesn‘t ’Make Sense’

Posted on August 6, 2011 at 12:12am by Scott Baker
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Tonight Fox Business reporter Liz Claman quickly reached Warren Buffett by phone to get his reaction to the S&P downgrade of the U.S. credit rating.

Here’s the quick transcript:

“I don’t get it. It doesn’t make sense. In (Omaha), the U.S. is still Triple-A rated and if there were a Quadruple-A I’d give the U.S. that.”

Comments (256)

megapotamus
Posted on August 6, 2011 at 12:57am
Clearly, Buffet is an idiot and always was.
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- hitbackfirst
  Posted on August 6, 2011 at 1:11am
  Agreed. Anyone who bets on the US financial system is an idiot. We are headed toward a massive cliff, from which there is now no turning back. Total collapse will occur in our lifetime.
  Report Post »
- nubl33t
  Posted on August 6, 2011 at 1:19am
  clearly you are a idiot america innovates and creates and produces more then anyone the most productive
  americans work the hardest in the world…. america is the mother of innovation and creation…
  
  buffet is right…
  and you are just a insane lost the plot
  Report Post »
- Kurty C Wipe
  Posted on August 6, 2011 at 1:25am
  Got bullets???
  Report Post »
- Mary Just
  Posted on August 6, 2011 at 1:28am
  In response to your comment. Buffet isnt so much of an idiot he just wants to make sure he is through the exit before everyone else. That means positioning himself for what is coming including purchasing gold and silver. You see the people that watch his every move are just tools for him.
  
  For those of you that havent purchased gold or silver it isnt to late. The world is awash in US dollars and less and less people want them. The paper traders in silver wont be able to short silver for much longer with the governments approval. They are the ones selling short at ~42 and jumping back in around 35 – 38.
  Report Post »
- IntransigentMind
  Posted on August 6, 2011 at 1:31am
  @Megapotamus:
  
  Clearly, Buffet is getting his Glenn’s been telling everbody who will listen, and this guy knew:
  http://markamerica.com/2011/08/01/when-all-is-said-and-done-more-was-said-than-done/
  Report Post »
- mikem1969
  Posted on August 6, 2011 at 1:46am
  buffett you are a moron. If a consumer constantly spends more than he or she earns, and keeps on getting more loans and never paying them down, and still continues to spend more than is earned, then they are broke. someone eventualy has to pay the piper, and our time is coming.
  Report Post »
- thepatriotdave
  Posted on August 6, 2011 at 1:48am
  What? Did you say that one of the most successful business leaders in this country, the multi-billionare Warren Buffet is an idiot? Ok, here’s a little test. If your so smart, how come you don’t have as much money as he does, hmmmmm????
  Geeesh I hope you were kidding. Maybe in his world the downgrade doesnt make sense the way it does to us wee-folk. But then again, there isn’t much in this country that does make sense anymore.
  Here’s a great exapmle…
  The Day the Tea Party was Murdered… http://www.AmericasTeaPartyNews.com
  Report Post »
- lylejk
  Posted on August 6, 2011 at 2:12am
  It kills me listening to these billionaire liberals. I know this guy’s not clueless either. I usually can tell when liberals lie; they open their mouth. Only thing I don’t understand is how can folk make so much money and be a liberal; well, maybe I’m lying now since I know (steal, cheat, and deceive; yup. Traits of a liberal). Now I‘m being a little generic since I don’t believe all Billionaires are evil. Love im or hate him, but Ross Perot is still a man I like. Spot one with NAFTA/GATT. Anyway, at least he says he’s going to donate all his money to charity before he dies; we shall see if even that becomes a folly. :)
  Report Post »
- Kurty C Wipe
  Posted on August 6, 2011 at 2:15am
  This country is toast……….smart ones get it, smarter ones choose to ignore. Go figure?
  Report Post »
- Luckywon
  Posted on August 6, 2011 at 2:28am
  Buffett has never been an idiot. You don’t get to be the best investor in the world by being an idiot. You know who else is a great investor? George Soros. The thing about investors, all they really care about is making money. No one country holds their allegiance. They are willing to see an economy crash if they can see how to make a profit out of it. Soros did that to England and became a Billionaire. These guys are surely investing in something right now, and just as surely, it isn’t America.
  Report Post »
- PATTY HENRY
  Posted on August 6, 2011 at 3:08am
  NO NO NO!!! The AMERICAN system is the best…we’ve just copped out. Buffet could not have made all the $$ he has made and KEPT IT if he were an idiot. What he is saying in CODE is that George Soros is at it again… trying to sink the ship because Obama is not radical enough for him.
  
  It was Soros (most believe who would know such things) who started the run in Oct. 2008 because Sarah Palin was making the move on Obama (I’d say McCain but we all know he was zilch without her..who knows…maybe he stopped his campaign as homage to Soros (and a little kick back) to make sure they didn’t win…now Soros doesn’t like Obama either… Someone got paid off to
  make this rating…when ever anything stinks…you can find SOROS under the pile.
  Report Post »
- Snowleopard {gallery of cat folks}
  Posted on August 6, 2011 at 3:32am
  As most of America says tonight — Agreed.
  Report Post »
- Polwatcher
  Posted on August 6, 2011 at 5:42am
  I don’t believe that Buffet is an idiot when it comes to his money. He only pays 17% taxes, so he says. He probably doesn’t have income or income taxes as we know it. He probably receives only dividends and capital gains with plenty of business deductions. Yet, the media uses him to further their goal of destroying this country and he gladly participates.
  Report Post »
- Oh Please
  Posted on August 6, 2011 at 6:13am
  With that statement, Buffett is just trying to clam fears of the downgrade. He has too much invested in the country to try to do anything else but protect his assests. He’s no genius, just patient and self serving.
  Report Post »
- dietrdeb
  Posted on August 6, 2011 at 6:32am
  @nubl33t you are a nub or a tool. What does american innovation have to do with our debt. Unless by innovation you mean our ability to print more money. Maybe you haven’t noticed…but most of our innovation is manufactured in China these days!
  Report Post »
- Jack2011
  Posted on August 6, 2011 at 6:35am
  Buffet ENDORSED Barack Obama and he is saying this to help “buffet” the sting of the downgrade.
  Report Post »
- vastrightwinger
  Posted on August 6, 2011 at 7:11am
  yes MEGA, my thoughts as well, Buffett is an iddiot!
  Report Post »
- hifi74
  Posted on August 6, 2011 at 7:19am
  Hey Nub, we haven’t been that in 20 years and counting. They are correct in their assumption of Buffet, and your supposition to the contrary is wildly incorrect.
  Report Post »
- wildturkeywatcher
  Posted on August 6, 2011 at 7:41am
  Oh, to be such an idiot! His politics don’t attract me, but he’s a very smart investor.
  Report Post »
- loriann12
  Posted on August 6, 2011 at 8:07am
  America USED to be the most productive. All our industries have moved overseas. We have become a nation of service industries, not production. You need to wake up.
  Report Post »
- gotta light
  Posted on August 6, 2011 at 8:12am
  Buffet is more than a idiot he supported and supports NoMomma Obama’s crazy socialist & marxist economic notions….
  
  I CALL UPON WARREN BUFFET TO DIVEST OF ALL HIS WEALTH.
  GIVE IT AWAY TO CHARITIES! REAL CHARITIES NOT THINGS LIKE ACORN.
  YOU LOANED OBAMA THE CREDIBILITY ASSOCIATED WITH YOUR NAME AND HE WAS WRONG ABOUT EVERYTHING. OWN UP TO YOUR PARTIAL RESPONDSIBILITY IN THE OBAMA MESS. YOU WERE WRONG ABOUT OBAMA!!! DIVEST YOURSELF OF EVERYTHING, PAY THE PIPER……
  
  Hey bud gotta light?
  Report Post »
- loriann12
  Posted on August 6, 2011 at 8:12am
  @lylejk
  
  When a liberal is a billionare, he does everything he can to kick the ladder out so no one else can get to where he is. He uses the capitalist idea to get where he is, but then denies it helped him because he doesn’t want it to work. I don’t think Warren is a liberal, I just think he’s either 1. in denial (this could never happen in America) or 2. telling falsehoods so that the public won’t panic. Which is kind of silly because anyone who can see is already panicked.
  Report Post »
- megapotamus
  Posted on August 6, 2011 at 8:24am
  These are the most responses I have ever gotten. Must be on a lot of minds….
  Report Post »
- Secret Squirrel
  Posted on August 6, 2011 at 8:49am
  .
  Did Buffett suffer a blow to the head recently?
  First, he wants higher taxes,
  Now he doesn’t understand why we are downgraded.
  
  I do. It was clear. Cut your deficit, we didn’t.
  
  Maybe Warren can loan money to Greece.
  Report Post »
- UlyssesP
  Posted on August 6, 2011 at 9:12am
  @thepatriotdave,
  Why are you equating someones intelligence with how much money they have? There are criminals that have a lot more money than me or you. Are they smarter? Are they willing to take more risks? Are they more material and seek “things” where I am a simple man and seek God?
  Says a lot about you friend, that you would think one (intelligence) must follow the other (material wealth).
  Report Post »
- mycomet123
  Posted on August 6, 2011 at 9:41am
  First off, if Warren’s an idiot, he is the worlds smartest one!. I live in Omaha & though I don‘t agree with Warren’s politics or his involvement in planned parenthood–Warren is no Soros (as a matter of fact Warren won’t even stay in the same room with Soros the difference is that great). If I had to catagorize Warren I would put him in the misguided compassion group. Warren lives in a Republican financially conservative state & although he has the means to change the politics of Omaha he doesn’t. Warren has lived in the same house for over 30 years & drives himself around. I truly believe that he has HOPE for America & whether I agree with his financial outlook or not I truly believe he loves this country & only wants the best for America.
  Report Post »
- simplygilly
  Posted on August 6, 2011 at 9:52am
  Wow, imagine how much wealthier Buffet could be if he had access to your infinite wisdom. How you doing, comparatively, financially? How’s the sophomoric name calling working out for you?
  Report Post »
- HKS
  Posted on August 6, 2011 at 9:52am
  Probably the luckiest idiot that ever lived. Always in the right place at the right time. If our financial condition is not bad, what is bad? One earner supporting four non-earners will never work anywhere, he’s smart enough to know that. I guess making what I call stupid money warps the mind a bit. (where-stupid money=money that falls in your lap with little to no personal effort needed. like playing a slot machine that won’t stop dinging. )
  Report Post »
- Ruler4You
  Posted on August 6, 2011 at 10:31am
  What Moodys and S&P found was a lie in what the government told them versus what they were seeing. When they asked for ‘clarification’ from the administration further cover up is what they got instead of the truth. Which makes it hard to not do what needs to be done.
  
  Whether or not the administration intended to deceive is up for debate, for now. But they clearly do believe in relativism of truth.
  Report Post »
- Newspeak
  Posted on August 6, 2011 at 10:40am
  What Buffett is saying is not that he has faith in the Feds to change their ways. He said as long as they have a printing machine the bills will continue to get paid (this is the definition of not defaulting). S&P is obviously giving the Feds too much credit assuming they will show restraint and not run the printing machine.
  
  Technically speaking, there is no chance of default. Inflation (or worse)…well thats a different story!
  Report Post »
- mrsmileyface
  Posted on August 6, 2011 at 12:12pm
  @Megapotomusidiot Clearly, Buffet is an idiot and always was
  Ya making Billions is clearly the work of an idiot. So then what does that make Obama?…..an ameboea that cant figure out mitosis.
  Report Post »
- the hawk
  Posted on August 6, 2011 at 1:04pm
  EVRYONE THINKS THIS GUYS A GENUIS !
  Those 500 people who were the first investers in Coke a cola wer’nt genuises ! right place right time.
  This guy is an A$$ thought !
  Report Post »
- Jaycen
  Posted on August 6, 2011 at 1:27pm
  @HITBACKFIRST
  
  That’s incredibly anti-American. We don’t need your kind of support.
  Report Post »
- tifosa
  Posted on August 6, 2011 at 4:04pm
  They said it: “We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act.” http://www.ft.com/intl/cms/af2c4fac-bfc2-11e0-90d5-00144feabdc0.pdf
  Thanx R’s.
  Report Post »
- jim
  Posted on August 6, 2011 at 4:51pm
  These are a lot of responses, Mega, you hit a nerve.
  Report Post »
- Pyronaught
  Posted on August 6, 2011 at 5:56pm
  America‘s government doesn’t innovate anything, only American busiensses and entrepreneurs do that. If the governmnet collapses under debt and either defaults or debases the currency to inflate its way out of debt then the system under which our businesses operate falls apart. But aside from all that, the ratings agency only rates an entity based on the level of risk involved for investors. If they see the ability to pay back debt being increasingly unlikely then the rating goes down. It has nothing to do with how great America’s people might be, it is all about the government’s likelyhood of being able to pay off the debt. The higher the risk for bond holders, the lower our rating is. It’s that simple.
  Report Post »
- SamIamTwo
  Posted on August 6, 2011 at 10:10pm
  Buffet should write a check to the US Treasury to erase the Debt. All of these liberal people who believe the rich should pay more taxes, you don’t see them cutting an extra check to the US Treasury…there is a block on the 1040 to allow them to do so…so put your wallet where your mouth is Buffet.
  
  BTW, his tax rate was reported to be lower than his secretary. 7/2007.
  Report Post »
- lillymckim
  Posted on August 7, 2011 at 10:15am
  When you have the LEADER OF OBAMA JOBS COUNCIL,
  
  Jeff Immelt, Moving GE’s Health Care Unit to China…..
  
  where’s…. the growth? Obama?
  
  C-H-I-N-A
  
  Buffet doesn’t get it?
  
  after signing the Debt Bill Obama tells corporate America I’m coming after you
  and Buffet doesn‘t’ get it?
  Report Post »
- BrianBDB
  Posted on August 7, 2011 at 1:38pm
  He’s not an idiot. Far from it.
  
  He is, however, a committed Democrat. That means his political views don’t make sense when the real world intrudes. I believe he’ll find a patch for his psychological OS and be right back to his old tricks in no time.
  
  I bailed out of Berkshire Hathaway years ago because his views are so out to lunch. That‘s not to say I think he’ll fail at growing his company.
  Report Post »
- CygnusX
  Posted on August 7, 2011 at 1:58pm
  @ ULYSSESP
  
  Well said. I can think of a few sports stars that must be pure geniuses.
  Report Post »
- CygnusX
  Posted on August 7, 2011 at 2:15pm
  @TIFOSA
  How much should revenue be raised. You could tax 100% of the top wage earners and not even put a dent in the yearly budget shortfall let alone begin to pay off any debt. S&P also mentioned the massive debt.
  
  Thanks D’s
  Report Post »
- LibertarianForLife
  Posted on August 7, 2011 at 5:31pm
  Buffet is a liberal, what can you expect. I am an American Exceptionalist, but the progressive policies in place have/will doom this country.
  Report Post »
- Obama Snake Oil Co
  Posted on August 8, 2011 at 3:33pm
  Well, he should have called George Soros his ole buddy to see what he was going to do. Did ole georgy make another billion dollars off the US? He may have been the billionaire winner who bet the credit rating for the US would be downgraded. I wonder if his ole bud, Barrack told him or Timmy did? I wonder what investment Georgy will go into now to avoid paying taxes on it? More of mediamatters mushbrains or huffingtonhooey……
  Report Post »
Mtroom
Posted on August 6, 2011 at 12:56am
the thing is…He’s kinda right…we haven’t defaulted at all, this rating drop was speculation of us defaulting in the future …so i see why it makes no sense to him…but the facts are we are spending to much and have a high probability of default…that i think he gets…he just won’t say it…he’d lose to much money…watch his money play this week…you’ll see what he gets by what he does with his money
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- Shiroi Raion
  Posted on August 6, 2011 at 1:39am
  I think I get it. It‘s not just the debt ceiling although it’s ridiculously high and I’m certain that it contributed to the downgrade. The debt hit over 100% of GDP. GDP is at a near standstill at 1.4% growth. Unemployment is around 18 or 19%. The public sector is leeching off the private sector and the private sector can‘t keep up with the government’s insane spending spree. Obama and Cass Sunstein are regulation crazy making it much harder for people to start businesses.
  Summing up to a weak economy, weak hiring in the private sector, overspending, waste and corruption in the public sector and add the Federal Reserve printing too much money and devaluing the dollar. It all adds up to the Federal government being too untrustworthy to pay off their debt.
  I‘m a bit surprised they didn’t downgrade us sooner. I guess it’s because we had more private sector employment and GDP growth before Obama took office and he seems to be doing the fiscal opposite of what we should be doing in nearly every way. He’s done the exact opposite of what Reagan would have done. If we get more Libertarians and fiscal Conservatives in office in 2012, we should go back to AAA. The more Libertarians, the faster the recovery should be.
  Unfortunately, I think we have only about 40 or so in the House and only a dozen in the Senate. Not enough to make a difference.
  Fight the good fight, Tea Party people! I’m cheering for you.
  Report Post »
- lylejk
  Posted on August 6, 2011 at 2:21am
  OK; answer this to me MTROOM; how will the U.S. pay back $14.5T. Do you think the U.S. has it in them to do so? I sure as heck don’t. Neither does S&P. You don’t rate credit by paying your bills alone. When a credit company sees that you are carrying too much debt, they will increase your interest payments to force you to pay off that debt (yup; guilty I am). The same holds true to U.S. That is why we were lowered. If you ask me AA+ is still too high a rating to give our government. Moodys and the other credit agencies know this too, but they are so much in the tank for BO that they gave him a Monopoly pass, but S&P said no way. I bet within 2 months (or sooner) even the other credit agencies will see that we are not serious about cutting spending and they will downgrade us too. The Chinese downgraded us today (well yesterday) as well, and that’s the one that really matters since they are the ones loaning us the money. Time to cut funding to idiotic programs like treadmill shrimp (just the most outradeous example I can think of at 1.20am; lol) and all foreign aid imo. But this won’t happen and deep in the hole we continue to fall. :)
  Report Post »
- Mtroom
  Posted on August 6, 2011 at 5:54am
  ok…i’ll answer that…it was never stated by me that we could pay it…i was saying we haven’t missed a payment…nothing to do with the outa control spending…i do understand the US is way over its head ,as does the rest of the world…i was just stating that this idiot wouldn‘t understand because we haven’t defaulted yet….end of point …same as that other idiot that said we would never be downgraded..they don’t realize that other factors where swaying the decision …nothing more than that…i am not defending these guys…i just understand why they think like that…and i to believe the other credit agencies will follow suit…and something major has to happen or it will get even worse
  Report Post »
- lylejk
  Posted on August 6, 2011 at 12:13pm
  OK; I see where you were going with this. You get a reprieve. lol
  
  Yeah; the idiots state their amazement based on their Progressive philosophy that is for sure. The only Billionaire that i will even give some credence too and listen is Perot. Not sure if he has said anything concerning our economy for a long time now; guess he’s enjoying his retirement. :)
  Report Post »
RightPolitically
Posted on August 6, 2011 at 12:56am
I think he’s going senile!
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- dagny6
  Posted on August 6, 2011 at 7:43am
  I grew up in Nebraska and always looked up to this man. I knew when he supported Obama that he was never what I thought he was. He is actually an expert people screwer. He simply built relationships with people that have worked their tails off for their wealth and then he screwed them. Oh, much like Bernie Madoff…
  Report Post »
Brasil2520
Posted on August 6, 2011 at 12:55am
Keep the lie going and they, the very very – few stay rich, say the truth and we end up like Greece either way us little people are doomed.
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- michael48
  Posted on August 6, 2011 at 9:17am
  buffy, gates, soros…be good Comrades and just sign over all you have to Uncle Sam BHO , and of course this is a chance for matt damon to join in and really back up the PUKE he spews…I mean , the first billions were made with the Capitalist system…he!! shouldn’t be any problem with Marxist system to make it again…right???…that’s what WE are going to have to do…equally broke works…doesn’t it????
  Report Post »
lonewolf57
Posted on August 6, 2011 at 12:51am
It doesn’t make sense!Warren Buffett has been toooo busy sucking front and back!
Rich,but poor,in so many ways.
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Quarter
Posted on August 6, 2011 at 12:48am
I would like to pass this along please watch

http://teabook.org/video/the-agenda-grinding-america
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- ghostsouls
  Posted on August 6, 2011 at 1:33am
  @Quarter I watched that video, and it is astounding to me. I am now going to have to buy the book he mentions that was written in the 50′s. Most everything he said in the 50′s is coming true today.
  Report Post »
- BOUGHT YOUR SILO YET?
  Posted on August 6, 2011 at 3:16am
  Wow! Thank you for posting that. I too, must get a copy of that book.
  Report Post »
- Fed up in Bama
  Posted on August 6, 2011 at 5:22am
  It all makes sense. They can’t hide anymore. We’re on to them. God help us. Thanks for sharing.
  Report Post »
Jediusetheforce
Posted on August 6, 2011 at 12:48am
What are you going to do about it?? Nothing your already communists of the U.S. government. Warren get a hobby besides work. Don’t worry your going to lose your A** rated portfolio.

Tempers Fly!!!
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michael8506
Posted on August 6, 2011 at 12:47am
Warren Buffet saw this coming!
He just fed this reporter a load.
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- heyjim55
  Posted on August 6, 2011 at 1:06am
  You are correct that is exactly what he did and he probably will make money somehow off of this, can’t act to happy now might give himself away.
  Report Post »
miles from nowhere
Posted on August 6, 2011 at 12:43am
It does make sense, it is very hard to pay for everything with play money, Obama has been printing money since he took office.
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- N37BU6
  Posted on August 6, 2011 at 12:55am
  He sure has, but we can’t just blame him. Listen to early Bush Sr. speeches… sounds like Obama or Soros.
  
  You can’t build the NWO without first destroying America financially.
  Report Post »
- ProbIemSoIver
  Posted on August 6, 2011 at 1:40am
  N37BU6. You got it !!!
  Report Post »
- BloodSweatandTears
  Posted on August 6, 2011 at 2:17am
  Someone with substantial means placed a 800 million dollar trade on the Futures Market the Thursday before the debt deal was finished. This trade required back up of over one billion dollars. Only a Primco, i.e., Bill Gross, Paulson or Soros has the ability to place such a trade, netting a ten to one return if the U.S. credit standing takes a fall. Soros broke the Bank of England n 1997, that netted him one billion. A ten billion dollar payout would really add to his arsenal.
  Report Post »
- Meyvn
  Posted on August 6, 2011 at 5:11am
  @N37BU6. You have nailed it!
  Report Post »
- spiritof76revived
  Posted on August 6, 2011 at 7:40am
  N37BU6–unfortunately, you are right on!
  Report Post »
eat-more-bacon-USA
Posted on August 6, 2011 at 12:41am
Well Warren, Honey, you helped put enemy-obama in office, so you should be thrilled that his plan to destroy America is bearing fruit. It is time to downgrade “enemy-obama“ to ”convict-obama”.
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- BOUGHT YOUR SILO YET?
  Posted on August 6, 2011 at 3:19am
  We need to get serious and start pushing for impeachments. Obama, Pelosi, and John Kerry to name only a few.
  Report Post »
- Meyvn
  Posted on August 6, 2011 at 5:17am
  Bingo!
  Report Post »
Tankertony
Posted on August 6, 2011 at 12:39am
What a scab. Time to be picked.
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Katydidnt
Posted on August 6, 2011 at 12:37am
Mr. Buffet, The US will always pay their bills, but the dollars that they pay it with are increasingly worth less. Also, the government has shown an extreme reluctance to cut back on anything. It seems like they are not taking their debt seriously. There seems to be an extreme amount of denial going on as to the severity of our problem. Denial does not lead to good decisions.
Money problems on an individual level or a national level are not solved with more money. Debt is a symptom of an underlying problem. The responsiblity for our own lives, the lives of our family, the care for our elders, and our neighbors was delegated to the government. It has destroyed the family unit, the extended family and our communitites. People look to government instead of God to supply their needs. Rise of the welfare state corresponds to the decline of morals and faith. You either think money will solve our problems or God will. God will destroy every false God before him. Mock away.
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- mossbrain
  Posted on August 6, 2011 at 1:07am
  http://politicalticker.blogs.cnn.com/2011/07/28/hardliners-in-debt-talks-have-debt-problems-of-their-own/
  Report Post »
- Katydidnt
  Posted on August 6, 2011 at 6:44am
  When I was single, I didn’t have a problem with debt. When I married a doctor, I found out I had just married into $90,000 worth of debt with $60,000 of income and he didn’t view it as a problem. In a few years we would be making a lot of money. About 80% of his paycheck was dedicated to servicing debt. It was the grace of God, I was able to pay each bill on time.
  
  More income never helped, it just encourages the spender. Three times I got the debt down to zero, to balloon up to $20,000 in about 6 months time. It took deep gut level emotional changes and some windfalls from inheritances to get us to the point we are now, with a paid off house, money in savings and about $3600 in debt.
  It is from deep personal experience, that I say money will not get you out of a problem. It has to be God.
  Report Post »
- spiritof76revived
  Posted on August 6, 2011 at 7:43am
  God is our only answer…….although they are hellbent on changing it, we are still “One nation under God”…….let’s start acting like it.
  Report Post »
AmeriCat
Posted on August 6, 2011 at 12:36am
“you lie!”

Warren Buffet “gets it”….he just doesn’t want to criticize Obama!

Heck, Buffet probably knew before anyone else that U.S. would be downgraded.
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mlip
Posted on August 6, 2011 at 12:36am
Mr. Buffet, come on in. There is plenty of room and the water is warm.
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- Meyvn
  Posted on August 6, 2011 at 5:17am
  and slowly cooking.
  Report Post »
freekazoid
Posted on August 6, 2011 at 12:32am
You can’t forget this by Monday… Alot of people are going to take their money out of the stock market. And Warren Buffet will stand to lose millions if not billions if the stock market crashes Monday. He’s scared and he ought to be. SELL SELL SELL!!!!!!!
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PleaseStartBrainb4engagingmouth
Posted on August 6, 2011 at 12:30am
What would Ole Warren do if one of his company’s CEO spent more than they made year after year. I doubt he would listen to his finacial advisors tell him oh don’t worry they are just fine… AAA rating ..

Could it be Ole Warren and his partners got caught “long” the market and wants to limit the downside next week?
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flagbearer
Posted on August 6, 2011 at 12:30am
What a grand legacy for America’s first black president! Way to go, Obumma. You have been successful in transforming America. Liberals are proud tonight!
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banjarmon
Posted on August 6, 2011 at 12:24am
BO did it….It has happened on his WATCH!!
Sarah can FIX IT 2012
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Sam Brown
Posted on August 6, 2011 at 12:23am
So they just had a bipartisan vote to compromise and spend 7 trillion more tax dollars. Add that to the 14.5 trillion we owe and the fact is we can’t pay the 21 trillion back. Only a fool would buy paper from this government. Buffet is in the lefts pocket.
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- paperpushermj
  Posted on August 6, 2011 at 12:38am
  Maybe he’s trying to put lipstick on this pig?
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the58thstate
Posted on August 6, 2011 at 12:22am
hey warren breaking news. WE ARE BROKE AND THEY, LIKE ANYONE WITH A BRAIN, KNOWS IT!
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MODEL82A1
Posted on August 6, 2011 at 12:21am
S & P is about to be publically savaged like no company in history.
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- Mateytwo Barreett
  Posted on August 6, 2011 at 9:23pm
  Are you implying that they will get the ol’ Leman Bros. act? My gracious- I’m sure that once they meet with the administration- – -congressional hearings. Harranguing from the media, They’ll “compromise”.
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Lowgo1981
Posted on August 6, 2011 at 12:21am
You don’t get it? We spend more than we make. What’s not to get moron?
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- ProbIemSoIver
  Posted on August 6, 2011 at 12:40am
  It is that Simple.
  It blows my mind, how financial “experts” and Liberals, just don’t get it.
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- BOUGHT YOUR SILO YET?
  Posted on August 6, 2011 at 3:25am
  And what’s worse than making less than you spend? We can’t even count on future growth via the private sector. It’s one thing to spend your paycheck before you get it and a whole other thing to spend a check that you are never going to get.
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ARealCharliesAngel
Posted on August 6, 2011 at 12:20am
Seriously….why do we/US media consider him a “God Source” on financial issues. Wasn’t his wealth earned during different times?
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- Steel Awesome
  Posted on August 6, 2011 at 8:54am
  Buffet’s popularity can be traced back to his “Margaritaville” song. All America cares about is its entertainment.
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Dinkiecb
Posted on August 6, 2011 at 12:20am
And why would he do that?

And of course the S&P did this on a Friday evening lol so everybody will have time to forget it by Monday morning.
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- BOUGHT YOUR SILO YET?
  Posted on August 6, 2011 at 3:28am
  I don’t think people will forget it by Monday. No, they will be stewing in it all weekend long, which could make things worse.
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nannyatnannydotgov
Posted on August 6, 2011 at 12:19am
This affirms my statement, in a previous post, that this is a manipulation by Obambam & Company to further destroy our economy. Obambam & Company are committing treason in their quest for One World Government.
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- ProbIemSoIver
  Posted on August 6, 2011 at 12:31am
  Obama is a low man, on the NWO totem pole. But you are otherwise, correct.
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- AmeriCat
  Posted on August 6, 2011 at 12:45am
  Yes, agree.
  Yet another step to financially weakening our economy and destroying America,
  leading to global currency and government…NWO.
  
  Soros dumped billions in his hedge funds…just days ago….
  He must have made billions on those transactions
  as did all those insiders, whose names we will never know!
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- 4stmichael
  Posted on August 6, 2011 at 3:21am
  …sure looks like it doesn’t it!!
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- spiritof76revived
  Posted on August 6, 2011 at 7:34am
  I agree. When you think about the policies of this country, none of them make sense……..except to take down the country. Obama and company want redistribution of wealth, so we have to be knocked down a few pegs to bring the other nations up. How sad to see our great nation being destroyed economically. We are NO LONGER a super power.
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