Woody's Place financial advisor Warren Buffet was interviewed on CNBC today:
While the economy is a "shambles" and likely to stay that way for some time, he remains optimistic there will eventually be a recovery over a period of years.
Buffett says the nation should concentrate on creating jobs.
[...] Taking a firm position in an ongoing debate in the financial markets, Buffett says he's not concerned at all about deflation, but does think inflation will be a problem in coming years.
[...] Buffett repeated his criticism of "cap and trade" as a method to control pollution, saying it would be a huge, regressive tax.
You've got to wonder if he's starting to regret his endorsement Obama in the last election. Between the "soak the rich" tax policies, printing money like it's going out of style, the job killing Waxman-Markey (Obama-Pelosi) cap & trade carbon tax, and the proposed confiscatory corporate income tax on American companies that do business overseas, Obama's policies are going to result in much, MUCH less capital being available for the private sector, making any recovery less likely, delayed and more fragile.
Warren's a super nice guy, and the most successful businessman in modern history, but it would appear his wisdom does not necessarily extend into politics. He got suckered into believing Obama wasn't a Marxist radical just like John Q. Public did.
Recent Comments