Buffet: US is in recession

But the longs should be happy because Warren Buffett still said he is looking to BUY bargain stocks, whereas technicians are now saying "look out below", the DOW is going to 12,000 & under. I have no comments for trading... but seriously for investing long term, I will NOT buy&hold anything unless the Dow goes to test 10,000 & show some respectable reversal. (I won't buy/hold at 12,000, no way!). This market is now a BEAR market & is in SERIOUS trouble with institutions dumping left & right at every "dead cat bounce".
We are going to 10,000 in the LT for sure. Mini rallies & dead cat bounce are for the big boys to sell sell sell! This is another "bubble bust" as in the year 2000.



Quote from day7793:

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.
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Quote from bradstal:

U.S. will be fine in the long run?

In the long run, we are all dead!
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The US will be fine because its biggest asset, the american people. are innately honest and hard working.

I've traveled almost all parts of the globe. The reason most third world nations are dirt poor shit holes are simply because the average population are conniving crooks. Good leaders can never come out of a dis-honest unlawful population.

What Americans need to do, is eradicate neo-conservatives and the AIPAC cult from the american govt.

My good southern buddies privately talk about something drastic in the order of making a list and then lining them all up and having them shot by firing squad. That may be a little harsh, but the only way to cure cancer is to excise it. Whichever method is used, it won't be pretty. The average american is the honest gullible type, but many are beginning to wake up.
 
say hello to my little friend-HE IS CALLED THE AMERO AND THE NORTH AMERICAN UNION!!!!!!!!!!!!!!!!

somthing catastrophic needed to take place to usher in the ______________________________ you fill in the blank
clue: its on the dollar bill-(novus ordo seclorum)-think i spelled it right-oh btw-all the profit taking is lining the pokets of those getting ready to rebuild solomons temple on the dome of the rock site in J-town Israel-follow the money trail-------oh just joking,do not take me serious -im a dummy who stopped taking his meds in grade school - but... what if??????????????????????????????????
awwwwwwwwwwww sheeeeet-hello Costa Rica and all the Israeli's in exile-everyone else too!
 
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.
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are there any articles that attempt to calculate what inflation would be based on how it used to calculated?
 
Quote from arealpissedgoy:

"... The average american is the honest gullible type, but many are beginning to wake up.
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Not enough waking, and not soon enough.
 
Quote from flyingiguana:

are there any articles that attempt to calculate what inflation would be based on how it used to calculated?
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One decent source I have found - and of course, use your own judgement - is a blog by John Williams: Shadow Government Statistics.

He has some interesting articles, and a calculator - pre Boskin Commission. He makes some decent points.

He even takes a stab at measuring M3 - which the Federal Reserve stopped reporting early '06.


http://www.shadowstats.com/
 
When good companies buy their shares back; and bad companies sell; it is not good indicator for the market; very worrisome.
 
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