Warren Buffet On The Current US Recession

3 Responses to “Warren Buffet On The Current US Recession”

1. Amethyst says on 5/16/08 at 9:54 am:
   

   Is there something in the stars, Elsa, like some weird aspect of Neptune that makes people disbelieve real things like prices, shortages, etc, and only listen to what a talking head tells them to think? I feel like paying attention to reality is going against the grain.

2. C. says on 5/16/08 at 1:10 pm:
   

   Funny, my SO said last July or August that most of the major banks were fully insolvent and the ones that would survive would write down their losses ASAP.

   But nope, small piecemeal writedowns have been the norm except for Bear Stearns and he just laughed at that one. He’s not a financial analyst but he gets trends like no body’s business…

   personally, I plant a garden and put in fruit trees so I still have the good things in life.

3. Pisces says on 5/16/08 at 4:08 pm:
   

   I’m with C. Let’s get back to the basics. Many of the talking heads don’t even understand economics. I have too much to say about this and not enough energy to say it.

   If you want to understand why prices are going up so high, google the term “peak oil.” T Boone Pickens is on the peak oil bandwagon. Peak oil simply means we’re running out of “cheap” oil (NOT running out of oil, of course). At the same time demand keeps increasing. Draw those two graphs and you’re looking at some expensive produce, not to mention the many other consequences.

   Bottom line: let’s plant gardens, fruit trees, and raise some bees. We’re not producing much of anything else in this country besides hot air (and that’s polluted).

   Have a happy weekend!
   Pisces

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