Warren Buffett weighs in on the Presidential race

[gulftiger66 168]

Unfortunately Warren, and others like him, tend to disregard some very serious things:

1). Will there be no economic consequences of QE1,2,3 etc?

2). Can our current welfare stare continue to support hordes of immigrant muslims who aren't willing to integrate into our society.

3). Where are the middle class jobs going to come from. Please don't say, "The service Industry".

4). Will our manufacturing jobs ever come back from overseas.

5). What happens to the federal budget once interest rates rise and debt service takes most of the revenue?

There are many, many more of these questions. Unfortunately the rich cats like Buffett only want to calm the fears and never seem to want to address the real questions.

By now you might have gathered that I'm no Warren Buffett fan.

[RunInRed 18,113]

Unfortunately Warren, and others like him, tend to disregard some very serious things:

1). Will there be no economic consequences of QE1,2,3 etc?

2). Can our current welfare stare continue to support hordes of immigrant muslims who aren't willing to integrate into our society.

3). Where are the middle class jobs going to come from. Please don't say, "The service Industry".

4). Will our manufacturing jobs ever come back from overseas.

5). What happens to the federal budget once interest rates rise and debt service takes most of the revenue?

There are many, many more of these questions. Unfortunately the rich cats like Buffett only want to calm the fears and never seem to want to address the real questions.

By now you might have gathered that I'm no Warren Buffett fan.

Hords of immigrants Muslims, eh? Please do, tell us more.

[Proud Tiger 4,261]

Unfortunately Warren, and others like him, tend to disregard some very serious things:

1). Will there be no economic consequences of QE1,2,3 etc?

2). Can our current welfare stare continue to support hordes of immigrant muslims who aren't willing to integrate into our society.

3). Where are the middle class jobs going to come from. Please don't say, "The service Industry".

4). Will our manufacturing jobs ever come back from overseas.

5). What happens to the federal budget once interest rates rise and debt service takes most of the revenue?

There are many, many more of these questions. Unfortunately the rich cats like Buffett only want to calm the fears and never seem to want to address the real questions.

By now you might have gathered that I'm no Warren Buffett fan.

i'm with you.

[JoeBags7277 759]

Unfortunately Warren, and others like him, tend to disregard some very serious things:

1). Will there be no economic consequences of QE1,2,3 etc?

2). Can our current welfare stare continue to support hordes of immigrant muslims who aren't willing to integrate into our society.

3). Where are the middle class jobs going to come from. Please don't say, "The service Industry".

4). Will our manufacturing jobs ever come back from overseas.

5). What happens to the federal budget once interest rates rise and debt service takes most of the revenue?

There are many, many more of these questions. Unfortunately the rich cats like Buffett only want to calm the fears and never seem to want to address the real questions.

By now you might have gathered that I'm no Warren Buffett fan.

Could have left off the "hordes of immigrant Muslims" pablum. The welfare state is unsustainable already with poor honkies.

Missed it by THAT much...

[RunInRed 18,113]

Could have left off the "hordes of immigrant Muslims" pablum ...

They literally can't help themselves. Not to broad brush but islamaphobia runs deep into the DNA of the party platform.

[RunInRed 18,113]

An interesting sidebar ...

Some of the same who are deriding Buffett are supporting Trump. One boot strapped his fortune from selling chewing gum, Coca-Cola bottles and weekly magazines door to door, working in his grandfather's grocery store, delivering newspapers, selling golf balls and detailing cars, among other means. The latter, via loans and an inheritance from his father.

[Mikey 16,781]

An interesting sidebar ...

Some of the same who are deriding Buffett are supporting Trump. One boot strapped his fortune from selling chewing gum, Coca-Cola bottles and weekly magazines door to door, working in his grandfather's grocery store, delivering newspapers, selling golf balls and detailing cars, among other means. The latter, via loans and an inheritance from his father.

I'm a long way from being a Trump supporter. However, if the unhappy day comes when I'm forced to vote for either Trump or Hillary, Trump gets my vote.

About the "Invading Muslim Hoards" statement, I suppose that was referring to Obama's idea of bringing Syrian refugees in by the tens of thousands. Anyone that thinks it wouldn't be a serious concern hasn't been keeping up with current developments in Europe.

[icanthearyou 4,468]

I am very disappointed in this thread. I see too many of the absolutes, the rhetoric, and narratives that help sustain the fundamental corruption of two parties that openly peddle influence.

Is it barely possible that the threats we perceive are exaggerated and/or contrived? Is it barely possible that the real threat is the consolidation of political and economic power?

Does anyone (conservative or liberal) give millions to a political party out of a sense of humanity or patriotism or, is it merely an "investment"?

Is absolute faith in an imperfect ideology, rational?

[RunInRed 18,113]

You may be on to something ... Trump is self-funding at a cost that far far exceeds a job that pays $400k per year.

[icanthearyou 4,468]

Agreed but, I doubt that Trump is entirely self-funded. Also, perhaps the conscious (and even unconscious) recognition of the entrenched corruption, is as much (or more) an explanation of his popularity, as is racism.

The racism element is not as fresh as some are pretending. I also would not discount the popularity of Sanders and, what that means. I also do not believe you can so easily dismiss the fact that the GOP establishment is making less than a subtle effort to undermine the Trump candidacy.

My point isn't about arguing over the rhetoric. My point is that Trump is not the problem and, that it is perhaps quite telling that there seems to be a bi-partisan effort to define him as just that.

I don't know if Trump is a racist. I don't know how sincere he is. What I do believe is, that candidates like Cruz, Clinton, and Rubio, will primarily serve themselves and their respective parties ahead of the interests of the country as a whole. Moreover, ideology is not our problem. The problem is more closely related to the consolidation of political power, economic power, and control of the media.

It just does not matter how you get to the point at which a relative few control so much of society. You can label is socialism, fascism, hyper-capitalism, communism, anything you like. It is not the ideological, rhetorically based war we believe it to be. It is simply the end game of those who crave power.

And yes, I believe Trump falls into that category (someone who craves power). However, I just do not think it wise to automatically (and rhetorically) allow that fact to overshadow, or obscure the fact that we have already moved towards a situation that may be difficult for many to define but, seems as though there is at least some basic recognition of.

Perhaps, just like rhetoric, narratives, and ideology, focusing on Trump prevents us from seeing the bigger picture?

[AuburnNTexas 7,300]

Getting back to whether Buffet is right. A generation back America was an Industrial Powerhouse. There were great paying jobs for middle class Americans without needing a college Education. A college education could be paid for while going to school. I know I worked and put myself through Auburn it took 6 years instead of 4 but when I graduated neither I nor my family was in debt. This generation does not have the same chance of a well paying job from industry. Education is becoming more important to getting a job then any time in the past. The cost of Education has dramatically outstripped the rate of inflation and many kids and their families are in debt 10's of thousands of dollars or more for education.

The percentage of the population that is actually working is near an all time low in the US. In 2006 about 63% of eligible workers were working now it is around 59%. About 45% of US population will not pay any federal Income tax. 7% of Federal Budget goes to Interest payments on the debt. With total debt growing every year that percentage will keep going up. What is scary is that is 7% with extremely low interest rates. If interest rates ever go up appreciably this could be a catastrophe. When I look at the cost of education, the number of students in education debt. The percentage of eligible workers who are working and US slowly working toward 50% or more not paying Federal Income tax I don't see how Mr. Buffet can make the statement he made.

[icanthearyou 4,468]

No offense but, that post is not readable. However, IF I understand the gist, perhaps we should be more focused on the trade deficit than the budget deficit? Is that something Trump is trying to tell us? Perhaps fair trade is preferable to free trade?

[RunInRed 18,113]

Getting back to whether Buffet is right. A generation back America was an Industrial Powerhouse. There were great paying jobs for middle class Americans without needing a college Education. A college education could be paid for while going to school. I know I worked and put myself through Auburn it took 6 years instead of 4 but when I graduated neither I nor my family was in debt. This generation does not have the same chance of a well paying job from industry. Education is becoming more important to getting a job then any time in the past. The cost of Education has dramatically outstripped the rate of inflation and many kids and their families are in debt 10's of thousands of dollars or more for education.

The percentage of the population that is actually working is near an all time low in the US. In 2006 about 63% of eligible workers were working now it is around 59%. About 45% of US population will not pay any federal Income tax. 7% of Federal Budget goes to Interest payments on the debt. With total debt growing every year that percentage will keep going up. What is scary is that is 7% with extremely low interest rates. If interest rates ever go up appreciably this could be a catastrophe. When I look at the cost of education, the number of students in education debt. The percentage of eligible workers who are working and US slowly working toward 50% or more not paying Federal Income tax I don't see how Mr. Buffet can make the statement he made.

All fair points. But I would argue the percentage of working figures are more inline with the baby boomer retiring than anything else. This number will continue to increase - all the more reason for entitlement reform.

But back to point ... do you have children? Ask yourself, who has it better, you or them? There are so many more technological advances, so many more educational opportunities, life expectancy is longer and on and on. In short, I agree with Buffett - what a time to be a live ... and the next generation has no clue how good they even have it.

[augolf1716 21,939]

My old Omaha neighbor

Hey I'm driving thru Omaha in May. What do I need to see there,

Stay away from the sale barns and the meat packing company's. Best steak houses in the country if you know where to go

Any recommendation for lunch?

Stokes is my favorite but Dovers is great as well. Biggest thing I remember about Neb. was they played the UN game on the speakers in the super market on weekends. I went to a lot of UNO, University of Nebraska Omaha basketball games back in the day.

When were you there?

Primarily in the early 80's, I lived in Bellevue, but I made a lot of friends there so I go back every so often

[Mikey 16,781]

Quote:"I would argue the percentage of working figures are more inline with the baby boomer retiring than anything else." The statement made was the percentage of eligible workers working. Are retirees still considered eligible workers after they retire? I don't know for certain but wouldn't think so.

Maybe the percentage of eligible workers working is so low because many have learned that they can "work small" for cash and still draw benefits? I do know there are a lot of native-born people around here sitting on their butts and watching immigrants do the jobs that their parents and grandparents did.

[RunInRed 18,113]

Quote:"I would argue the percentage of working figures are more inline with the baby boomer retiring than anything else." The statement made was the percentage of eligible workers working. Are retirees still considered eligible workers after they retire? I don't know for certain but wouldn't think so.

Maybe the percentage of eligible workers working is so low because many have learned that they can "work small" for cash and still draw benefits? I do know there are a lot of native-born people around here sitting on their butts and watching immigrants do the jobs that their parents and grandparents did.

Read this ...

http://www.calculatedriskblog.com/2012/10/understanding-decline-in-participation.html?m=1

[Mikey 16,781]

Quote:"I would argue the percentage of working figures are more inline with the baby boomer retiring than anything else." The statement made was the percentage of eligible workers working. Are retirees still considered eligible workers after they retire? I don't know for certain but wouldn't think so.

Maybe the percentage of eligible workers working is so low because many have learned that they can "work small" for cash and still draw benefits? I do know there are a lot of native-born people around here sitting on their butts and watching immigrants do the jobs that their parents and grandparents did.

Read this ...

http://www.calculate...pation.html?m=1

I read it. Apparently retirees are included in what they call a participation rate. Why that should be is another question, though I suppose their answer would be that "it's always been done that way". I'm not sure that the above mentioned "percentage of eligible workers" and the "participation rate" in your link are the same thing.

Now, calculating participation rates in that manner does make the rate decrease as more people retire. However, it seems that is a measure with limited usefulness as most retirees are not in the labor pool and have no desire to be in it. A retiree shouldn't be considered "an eligible worker". I piddle around on my farm at my own pleasure but I'm not available to go to work for somebody else. I wouldn't consider myself an "eligible worker" and would not accept a reasonable or even lucrative job offer.

[icanthearyou 4,468]

Anyone totally buying into the unemployment rate or, the labor participation rate, is probably being more political than, realistic, or practical, or thoughtful.

Millennials now outnumber the baby boomers.

We should not use the data to obscure the truth. Quality jobs have moved to other parts of the world. Neither party has shown the ability, or will, to effectively lead a global economy. Instead, leadership has been deferred to MNCs and central bankers. Politicians are more concerned with rhetoric and elections. The reality is bi-partisan incompetence.