Obama shill Warren Buffett makes political claim gold won't be good investment.

[wilburbear]

First, Obama's business dealings have been dishonest (buying real estate way below market value from influence-peddler Tony Rezko - who now sits in jail for these practices).

So how does Buffett continually tout his saint-like honesty at Berkshire when he works for/with someone like Obama?

Buffet knows Obama now needs housing to recover. So Buffett has been saying he'd buy houses for over a year (while housing declines).

Obama now needs gold to remain stable so the Fed can continue to print money without gold throwing a flag on the field. So, Buffett now goes on a road show to say we shouldn't buy gold.

All this while Buffett acts like a peacock, receiving medals in White House ceremonies.

Buffett is becoming unmoored from his principles. A sure sign to get out of hedge funds - and now Buffett-managed investments.

 

[budha]

I thought Buffet was an honest investor whose success was the result of long hours of legitimate hard work.

As it turns out he is a poster boy for crony capitalism. He's an ultimate insider who helps to draft legislation then positions himself to directly profits from that legislation. What a skunk! I've lost all respect for this old POS.

Read this: http://patdollard.com/2011/11/buffett-helped-draft-bailout-rules-made-massive-profits-in-return/

 

[bwolinsky]

Quote from TorsionField:

anyone who reads the news and keeps up knows by now that Buffet has become a liar and a fraud

This guy keeps saying how everything is fine, gold is bad, dollar is good. Everybody go home, everything is fine.

He no doubt has had a talk with his banker and white house buddies and decided to try a strategy of

solving a problem with calmness and ignorance

as if it will work

Nice name. I'm sure my most recent post with that term had some influence on your namesake.

He's right about gold. Stocks are a way smarter investment.

His real estate recommendation has more to do with making that asset more liquid. I think he just needs a property management company, but it sounded as if buying baskets of houses in areas needs to be addressed as something that doesn't require individual closings and make it a product where you could buy multiple houses on a single loan or instrument without all the red tape of contacting real estate agents and going through deed companies.

They call these REITS, but usually not particularly scalable and definitely illiquid.

 

[DEM BONES]

Right wingers just filled to the gills with anger and loathing for their fellow man.They don't need much to start spewing their venom on anyone.

 

[wilburbear]

Quote from budha:

I thought Buffet was an honest investor whose success was the result of long hours of legitimate hard work.

As it turns out he is a poster boy for crony capitalism. He's an ultimate insider who helps to draft legislation then positions himself to directly profits from that legislation. What a skunk! I've lost all respect for this old POS.

Read this: http://patdollard.com/2011/11/buffett-helped-draft-bailout-rules-made-massive-profits-in-return/

Fantastic reading.

Buffett's aw-shucks style conned a lot of people, but he damaged the U.S. taxpayer most.

He makes a mistake, though, when he tells the NYTimes "I'm not courageous enough to try and influence Congress." It's verifiable that he did this multiple times.

When you lie, you have to struggle to keep your story straight..........