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Buffet: US is in recession
- Thread starter makloda
- Start date
Quote from Misthos:
Correct me if I'm wrong - but the government said that inflation last year was annualized at 2.6%
If we look prior to the Boskin Comission and prior to the other "tweaks" of inflation and CPI - and go back to how inflation used to be counted back in the 1970s -
THEN YES WE HAVE A RECESSION. By constantly changing CPI, we overestimate GDP.
Luckily, we have a war going on and we have incarcerated a lot of people - more so than "unfree" countries like China and Iran - that helps with employment numbers as well.
Look beyond the Orwellian government stats and trade accordingly.
We are in some deep shit and it fascinates me how many people believe the government today. It could be snowing 3 feet deep, and if the government said the sky was clear, people would believe it.
Reality always has a way of catching up - you can only fudge the numbers for so long.... I'm trading with that philosophy.
Great post. Agree 100%.
Quote from makloda:
Billionaire Warren Buffett said Monday that the U.S. economy is essentially in a recession even if it hasn't met the technical definition of one yet. Buffett said in an interview with cable network CNBC the reports he gets from the retail businesses his holding company owns show a significant slowdown in purchases.
The chairman and CEO of Omaha-based Berkshire Hathaway Inc. said millions of people have also lost equity in their homes because home prices have dropped. The technical definition of a recession most economists use is two consecutive quarters of negative growth in the nation's gross domestic product.
"I would say, by any commonsense definition, we are in a recession," Buffett said on CNBC. But Buffett said it's not clear how far the recession will go because that is difficult to predict.
More: http://news.yahoo.com/s/ap/20080303/ap_on_bi_ge/buffett_economy;_ylt=AjcoCfyZVJ7_KCbrVcwumFCs0NUE
What difference it makes what Buffet says?
You have already brought down your stock market to its knees in the ensuing fear and despondent behavior. What difference it makes now? The market is teethe-ring on the brink of next leg down and its a question of when not if. This is a well known fact that economy is slowing down, but the panic and anxiety is way out of proportions and doom and gloom out of control.
Look what you did to the real estate market, you are doing the same to stock market and the behavior never changes.
Quote from kitty1996:
come on, folks, do we need warren buffett to tell us the US is in a recession?
i think not!
we know it all along, all the signs are there: horrible housing market ...and the financials are breaking down...
its terrible ... worst than bubble bust period.
CNBC is just trolling for ratings by having Buffett on air to point out the obvious.
Quote from kitty1996:
come on, folks, do we need warren buffett to tell us the US is in a recession?
i think not!
we know it all along, all the signs are there: horrible housing market ...and the financials are breaking down...
its terrible ... worst than bubble bust period.
I hope stock market crashes once and for all and you be done with it. Buried in the same pit with it forever , never be able to trade again. Enough of this doom and gloom weak idiots.
Quote from makloda:
Billionaire Warren Buffett said Monday that the U.S. economy is essentially in a recession even if it hasn't met the technical definition of one yet. Buffett said in an interview with cable network CNBC the reports he gets from the retail businesses his holding company owns show a significant slowdown in purchases.
The chairman and CEO of Omaha-based Berkshire Hathaway Inc. said millions of people have also lost equity in their homes because home prices have dropped. The technical definition of a recession most economists use is two consecutive quarters of negative growth in the nation's gross domestic product.
"I would say, by any commonsense definition, we are in a recession," Buffett said on CNBC. But Buffett said it's not clear how far the recession will go because that is difficult to predict.
More: http://news.yahoo.com/s/ap/20080303/ap_on_bi_ge/buffett_economy;_ylt=AjcoCfyZVJ7_KCbrVcwumFCs0NUE
People on ET already have a feel that they are in a recession. Does Warren Buffet enlightens these idiots any more?
Quote from makloda:
Billionaire Warren Buffett said Monday that the U.S. economy is essentially in a recession even if it hasn't met the technical definition of one yet. Buffett said in an interview with cable network CNBC the reports he gets from the retail businesses his holding company owns show a significant slowdown in purchases.
The chairman and CEO of Omaha-based Berkshire Hathaway Inc. said millions of people have also lost equity in their homes because home prices have dropped. The technical definition of a recession most economists use is two consecutive quarters of negative growth in the nation's gross domestic product.
"I would say, by any commonsense definition, we are in a recession," Buffett said on CNBC. But Buffett said it's not clear how far the recession will go because that is difficult to predict.
More: http://news.yahoo.com/s/ap/20080303/ap_on_bi_ge/buffett_economy;_ylt=AjcoCfyZVJ7_KCbrVcwumFCs0NUE
I had to think this through what he said and why he said:
Warren Buffet wants to scare the daylights out of your manipulated asses. Why? Because he is an institutional trader. He is stoking your insecurity and fears. He is essentially a manipulator.
Because he is ferociously accumulating positions himself when you are selling and the stocks are cheap and under valued.
Its in his interest that he harks you and fools you blind. Never take words from the world's most ugliest greedy billionaire. He is on buying binges rolling his shirt sleeves while you make it easy for him.
But you do not have the wherewithal or the nerve to buy right now ?
Here is an piece someone wrote about him today read it:
"It's worth noting, however, that his grim assessment of the current state of the economy aside, he continues to invest aggressively in stocks he believes are undervalued. Last month, he became the largest shareholder in Kraft (NYSE: KFT) and
also picked up shares of GlaxoSmithKline (NYSE: GSK).
The point is that investors seeking to emulate Buffett probably shouldn't be scared away from stocks by broad macroeconomic trends. Recession or no, Warren Buffett invests zealously in companies the believes in.