Buffet doesn't see a credit crunch

[RichardRimes]

Quote from Alex_in_Oz:

When I was in the USA a few years ago I was surprised at how many trailer trash types and drunks were Republican Party supporters.

visiting your friends and relatives? Just curious how you ran accross so many trailer trash types and drunks?

 

[Eliot Hosewater]

Quote from Joab:

Bill ... Mafia roflmao


Bill was a very smart guy and he saw the future, that's it that's all.

Give the man credit for what he has accomplished.

You don't have a clue do you?

 

[Dr.Greenback]

Quote from ShoeshineBoy:

I respectfully disagree. Carlos Slim has accumulated his tens of billions through being "lucky" and ruthless. Bill Gates has accumulated his through being a good businessman and a certain amount of "ruthlessness". This is different than Buffett, though, who through many decades and markets has picked dozens and dozens of differing investments with a very high probability of success and little to no monopolistic practices. This imo cannot be luck: it would be the equivalent of flipping heads about 80 times in a row...

Granted Shoesshineboy, I didn't mean to imply Warren Buffet was lucky or unscrupulous. Just trying to point out his misrepresentation of the tax code. The annual salary of his secretary would not equate to a 30% tax assuming she made 60k per yr. I wasn't quite sure on his actual salary but, I know there were inconsistencies with his statement. The rich pay more in taxes as the tax code stands now. If Buffet wanted to pay more in taxes, he doesn't have to send his money offshore or placed in other tax shelters. Heck, he could even give his money to the government instead of his charity. Indeed, if he thinks the government knows how best to spend his money. Oh, I know that's a bit extreme but....

It's probably a better debate in respect to the tax code purpose for income redistrubution or to fund the government.

 

[ronblack]

Quote from Eliot Hosewater:

Someone should buy the guy a newspaper.

He is correct. Just go to any bank and say you have good credit and you need a loan. No problem. Only for high risk borrowers there is a credit crunch. There is plenty of money available to loan. Actually, the problem of banks is that they have plenty of money to lend sitting around while they must pay interest on Cd deposits.

Ron

 

[Thunderdog]

"Poetic justice," anyone?

http://www.reuters.com/article/newsOne/idUSN0631767220080207?pageNumber=1&virtualBrandChannel=0

 

[daddyeaux]

Quote from ronblack:

He is correct. Just go to any bank and say you have good credit and you need a loan. No problem. Only for high risk borrowers there is a credit crunch. There is plenty of money available to loan. Actually, the problem of banks is that they have plenty of money to lend sitting around while they must pay interest on Cd deposits.

Ron

not so fast, my local bank will give ma a loan OK, but the terms are ridiculous

prime plus 3 on vacant land and they will only lend on 75% of the value

gee thanks. and I have good credit

 

[Daal]

Quote from Thunderdog:

"Poetic justice," anyone?

http://www.reuters.com/article/newsOne/idUSN0631767220080207?pageNumber=1&virtualBrandChannel=0

hes just playing along with society's sick hate of anybody whos rich or successful. this guy will say and do anything to get a laugh or be admired

 

[Thunderdog]

Quote from Daal:

hes just playing along with society's sick hate of anybody whos rich or successful. this guy will say and do anything to get a laugh or be admired

Sorry, but I agree with him. The chicken has come home to roost, and he's just pointing it out. It's only fitting that the players who had a role in creating the misery have now gotten their own noses caught in it.

 

[Daal]

funny that there is no mention to the poetic justice in seeing the average irresponsible joe file for bankruptcy after he defaults on his fifth credit card. no justice there, that would be 'a tragedy created by big corporations' that would get him the applause he so badly wants

 

[Misthos]

Quote from Daal:

funny that there is no mention to the poetic justice in seeing the average irresponsible joe file for bankruptcy after he defaults on his fifth credit card. no justice there, that would be 'a tragedy created by big corporations' that would get him the applause he so badly wants

Right ON!

Damn that average irresponsible Joe.

In the last six years, he saw his share of the nation's wealth rise the most. His salary increased the most, meanwhile banks made no $$$ and the poor CEOs of America took huge paycuts due to global wage arbitrage.

I hear that American CEOs are losing sleep because they fear their jobs may be outsourced to India and China.

In the last 6 years, the middle class got a huge windfall via Bush's tax cuts, meanwhile the Hedge Fund managers pay more and more in payroll taxes - medicare, FICA, unemployment, etc...

And what about those wealthy kids being shipped abroad to fight wars in the dessert? You know, the CEO of Exxon isn't going to see that money - it's the guys pumping gas that will make out like bandits.

It so unfair. Damn the bottom 90% of Americans.... thieves, the whole lot of them.