taxgun
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For the record, it was "so far, so good"...
Joe
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Skid Row Joe
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Inflation is 'exploding,' Buffett tells CNBC
By Alistair Barr
Last update: 12:24 p.m. EDT June 25, 2008
SAN FRANCISCO (MarketWatch) -- Inflation is "exploding" and the Federal Reserve should stress that fighting rising prices is a primary goal, Berkshire Hathaway Chairman Warren Buffett told CNBC on Wednesday. The Fed should be concerned about both inflation and economic growth, a tough thing to do, he explained. But inflation should be the Fed's main concern right now, Buffett added. "Inflation is really picking up," he said. "Whether it's steel or oil... we see it every place. It's exploding." The Fed has to be very careful not to signal that inflation is a secondary concern and something that can be dealt with later, Buffett explained.
I have a sweet tender nature, however I enjoy sharing my thoughts and opinions. 
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Skid Row Joe
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Old School. wrote:I don't think he cares either way. If he believes that, he's no doubt shorted the market already. Not to mention, he will sell more Budweiser to unemployed workers. You forgot to mention the retired guys too.
Just to clarify and correct a couple points you suggested in your post Old School......
Mr. Buffett prefers (as I do) buying when stocks are on-sale, so a fallen down market is a welcome sight to buy into. Secondly, Mr. Buffett does not short the stock market. Never has.....too much upside to mess with getting caught short. He does however buy into currency differences in different countries.
Berkshire-Hathaway, Inc. owns approximately 5% of Anheuser-Busch, (BUD).
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Jumbo Cranium
Texas where else
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There you go again Joe, Buffet is NOT the arbiter of whether we are in a recession or not. 2 quarters of NEGATIVE growth. THAT is a recession. So far we have not seen even one quarter.
I just get tired of people screaming recession when statistically there is not one. Words have meaning.
Who ever said it is a media driven slow down is absolutely correct.
* This post was
edited 06/28/08 07:31pm by an administrator/moderator *
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jcapps
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Jumbo Cranium wrote:
I just get tired of people screaming recession when statistically there is not one. Words have meaning.
Who ever said it is a media driven slow down is absolutely correct. You have got to be kidding me?
I guess the CEO of Levitz should stop reading the news, afterall only the media is saying things are bad. He should just watch his bottom line
puleeeeeeeeeeeeeeeeeeese
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Jumbo Cranium
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Ever hear of a self fulfilling prophecy? The media has been crying recession for 2 years now in anticipation of the fall elections. I can't go into the reasons why because the moderators seem to have a problem with that.
If you tell people long enough and loud enough that times are bad, even when they were not at the time, people start to believe it. People then start to pull back on their spending and looky looky, gee whiz we wuz right there IS a recession.
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Jumbo Cranium
Texas where else
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jcapps. Is there a common definition of "recession" or isnt there? Of course there is and it is "2 quarters of negative growth"
Even the media, which seems to be driven to make a recession where there wasn't one can't quite bring themselves to tell the BIG lie, that there is negative growth in this country. Last quarter the economy GREW at 1%. Sluggish? sure, an economy in recession? No.
You can find examples of business closing factories and stores at any time in an economic cycle. During the boom years, didn't K-Mart and Sears have their share of trouble? We just got a new Penneys a new Circuit City, a new Academy and probably a dozen more in the last 6 months.
* This post was
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Skid Row Joe
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I got a seedless watermellon at Albertson's tonight for $1.99. They were priced at $3.99, but as often as some items at Wal*Mart ring-up for less than the price marked in their bins, this watermellon did the same at Albertson's.
It's in the refrigerator cooling overnight right now. I'm looking forward to begin eating this last vestige of bargain pricing tomorrow, regardless of what Mr. Buffett says about recession or inflation.
Until the next shareholders meeting the 1st weekend of May next year, I'm going to let him do his thing scouring the world for bargains, and I'm going to do my thing scouring Albertson's, and Wal*Mart for grocery bargains. I just want to be left alone in my living room, until then.
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Jumbo Cranium
Texas where else
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One watermelon to last you till next May? You going on a diet Joe?
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Skid Row Joe
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If you want to get a real view of America's economy, start listening to WBAP 820 @ 4:00 pm to 7:00 pm Sundays, and 6:00 pm to 9:00 pm Saturdays. Bob Brinker will put the economy in complete perspective for anyone wanting to get his views on it. I was out at Lake Ray Hubbard with my local car club for dinner and HH tonight, so I missed most of the radio show Saturday, but I listen to every show I can. --Have for 10 years now.
Warren Buffett speaks plainly, but in riddles that sometimes don't coincide with what other experts.....especially spokespeople in the government are doling out. Use what you can from experts, and disregard the rest.
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edited 06/29/08 12:25am by Skid Row Joe *
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