Far be it from me to question Warren Buffett of all people. I'll let some of you other financial experts on here debate with the Oracle of Omaha.
He certainly hasn't endorsed everything Obama's done, but he thinks he's taking necessary steps to avert the disaster of September and it's lingering effects.
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In essentials, unity. In non-essentials, liberty. In all things, charity. Augustine
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if you are a bond holder in Crysler you probably dont like the guy at all. if you are a union guys at Crysler, you are probably tickled pink....
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I heard from a retiree from Chrysler. He was a union employee for about 40 years. He has been retired for several years. He was all bent out of shape because, as he understood it, with Chrysler's filing bankrupty, the pensioners will lose:
dental benefits
vision benefits
medical copay
bonuses
Data indicates that what destroyed the economy is greed. Greed is when you want something you cannot afford so you borrow more than you can pay to have it. Greed is when a greedy person loans money that belongs to someone else (aka pension funds) to other greedy people to buy things they well cannot afford at excessive interest knowing full well, with data in front of them, that the chances of getting that money paid back to the people you borrowed the money from in the first place are statistically lower. Greed is when you invest, then leverage the value of the initial investment to re-invest, with intention to double the return. Greed is when the investment is made in something that has inflated value from the greedy fellow investors. Greed is using money you do not have to take and buy things that do not belong to you nor did you earn them.
The bubble of greed started in the 80's. Movies were made about it. It was pointed out for years. Now the margin calls are in, the loans are due, the values are adjusted to actual rather than inflated, and the greedy are whining and blaming someone who has been in government office less than (4) months for activities that have been going on and building up to this for years. The words "america" and "greed" and "consume" have been put into the same sentence for years. Now suck it up. You have nobody to blame but yourselves. Want sympathy? Borrow some more imaginary paper money from each other and buy some. Eventually you will be able to invest in "sympathy options" and "sympathy futures" that will then artificially drive up the costs of purchased sympathy. Said investments, sadly, will probably be offered by the greedy along with other interesting markets like "carbon footprint credits" and others of imaginary value.
Now ima go watch "flip that house" to see if I can "add" $10,000 "value" by making $500 improvements on my bathroom (laughing). Looks to be a busy day.
Location: In two of the most beautiful states in the U.S.A
Posts: 1,676
Re: President Obama Destroys Economy!!!
Quote:
Originally Posted by Walks_in_islam
Data indicates that what destroyed the economy is greed. Greed is when you want something you cannot afford so you borrow more than you can pay to have it. Greed is when a greedy person loans money that belongs to someone else (aka pension funds) to other greedy people to buy things they well cannot afford at excessive interest knowing full well, with data in front of them, that the chances of getting that money paid back to the people you borrowed the money from in the first place are statistically lower. Greed is when you invest, then leverage the value of the initial investment to re-invest, with intention to double the return. Greed is when the investment is made in something that has inflated value from the greedy fellow investors. Greed is using money you do not have to take and buy things that do not belong to you nor did you earn them.
The bubble of greed started in the 80's. Movies were made about it. It was pointed out for years. Now the margin calls are in, the loans are due, the values are adjusted to actual rather than inflated, and the greedy are whining and blaming someone who has been in government office less than (4) months for activities that have been going on and building up to this for years. The words "america" and "greed" and "consume" have been put into the same sentence for years. Now suck it up. You have nobody to blame but yourselves. Want sympathy? Borrow some more imaginary paper money from each other and buy some. Eventually you will be able to invest in "sympathy options" and "sympathy futures" that will then artificially drive up the costs of purchased sympathy. Said investments, sadly, will probably be offered by the greedy along with other interesting markets like "carbon footprint credits" and others of imaginary value.
Now ima go watch "flip that house" to see if I can "add" $10,000 "value" by making $500 improvements on my bathroom (laughing). Looks to be a busy day.
WII
You left this beautiful generous country of ours by choice for the Arab world so my recommendation to you is to go take a long walk on a very short pier and leave us and our country alone. You've made it very clear what you think of our country and Christians.
Below is a list of countries in order of generosity. Funny I don't see one arab country listed.
Country Assistance % of GNI
United States $129.8 billion 0.99
United Kingdom $20.7 billion 0.84
Germany $18.4 billion 0.64
France $17 billion 0.76
Japan $15.2 billion 0.34
Canada $11.6 billion 0.91
Spain $10.5 billion 0.88
Italy $7.2 billion 0.40
Netherlands $7.1 billion 1.05
Australia $6 billion 0.85
Sweden $5 billion 1.28
It appears your sources do not come from the recipients. It is a published fact that Saudi, with 1/10th the population of the US, consistently ranks 2nd in the world in annual humanitarian and direct donations to developing countries. These have historically been in the form of "block grants" but because it is mis-used last year the Saudi Government initiated a "watchdog group" to monitor them. Your source is from an article asking the US and European countries to pony up less than 1% of their GNP. The article does not ask Arab countries because the requestors do not have to. The Arab Gulf States here already pony up.
One example:
03/23/2009 U.N. World Food Program thanks Saudi Arabia
"Last year, Saudi Arabia donated more than $500 million to WFP, placing the Kingdom at the forefront of global efforts to address the impact of soaring food prices."
2008 contributions to world food program:
1 USA 2,074,758,362
2 Saudi Arabia 503,752,713
So, a country with population 304MM with (how many times per capita income?) contributed 4X the amount of a country with population 26MM. These numbers carry all the way back to the 1970's and indeed Saudi aid has reached up to 4% of the GNP where the US languishes somewhere back in the .3-.4% range. American "aid" is generally military in nature and we have discussed that in another forum (re-thanking you for the Osamas of the world) Yet Americans feel that they are the "most generous country".
The fact that this is money that you did not have in the first place does not stun me either. The US is listed because the US lists itself. Saudi is listed only here and there because the recipients list it for them. Aid convoys to the people of Iraq leave here ALL THE TIME. Just because you do not acknowledge them does not mean they do not exist.
Filling the coffers of wealthy, hair-sprayed preachers for a tax write-off does not make you good people. It only helps you sleep better at night.
America is my country too.
MY return recommendation is trade "generous" for "greedy" then sleep in those beds you made in the houses of inflated value you borrowed money from the pensions of working people to buy. You can sneer all you want when working people have to leave to have a better life. Neither your sneer nor the opinion behind it changes the outcome one whit. Over 1 in 10 in America itself live in poverty. That says much about your generosity.
Quote:
Originally Posted by SOUNWORTHY
You left this beautiful generous country of ours by choice for the Arab world so my recommendation to you is to go take a long walk on a very short pier and leave us and our country alone. You've made it very clear what you think of our country and Christians.
Below is a list of countries in order of generosity. Funny I don't see one arab country listed.
Country Assistance % of GNI
United States $129.8 billion 0.99
United Kingdom $20.7 billion 0.84
Germany $18.4 billion 0.64
France $17 billion 0.76
Japan $15.2 billion 0.34
Canada $11.6 billion 0.91
Spain $10.5 billion 0.88
Italy $7.2 billion 0.40
Netherlands $7.1 billion 1.05
Australia $6 billion 0.85
Sweden $5 billion 1.28
What would impress me is if the Saudis were to up and treat their women like people instead of property. 1 in ten in the US may live in poverty, but 1 in 2 in Saudi Arabia live in oppression and bondage. Bad choice of examples.
Besides, all the dollars in the kingdom belongs to the royal family. I could be a Saudi prince for a day or two...
Most everyone else there doesn't own anything but sand while the king and his soak up what is underneath it.
Gee I live here. I do not see this at all. All my co-workers have their own homes. What's weird is that they do NOT have mortgages. Different banking system. Fee-based. An eye-opener for me. But - maybe you know something I do not. Something besides how to apply an even shiny coat of hairspray or tuck your belly behind your belt for church. You probably "heard about" or "read about' something, right? The cure for ignorance is travel. If you can afford it, someday, after all your credit cards are paid and stuff, why don't you VISIT sometime then go home and write about what you experience rather than re-write something someone else (who has also probably not travelled either) talked about.
I am american, and i can state with flat up fact that fewer numbers of saudi women are mistreated here than those who are beat up, raped, and murdered every year in the US. In fact, I know none. I have not seen, read about, or heard about a single murder here since I came. Weird. I know a LOT of saudis. They DOTE on their wives. Very strong, proud families. On the other hand, most of those living in poverty there in the US are women. Re-recommend that you address this issue at home before patting your own backs as 'generous' and then looking overseas for strangers to example as "worse than me so I can sleep peacefully in my mortgaged home under my credit budget".
Quote:
Originally Posted by John Atkinson
What would impress me is if the Saudis were to up and treat their women like people instead of property. 1 in ten in the US may live in poverty, but 1 in 2 in Saudi Arabia live in oppression and bondage. Bad choice of examples.
Besides, all the dollars in the kingdom belongs to the royal family. I could be a Saudi prince for a day or two...
Most everyone else there doesn't own anything but sand while the king and his soak up what is underneath it.
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