BUFFETT: Well, it's been pretty flat. I get figures on 70-odd businesses, a lot of them daily. Everything that I see about the economy is that we've had no bounce. The financial system was really where the crisis was last September and October, and that's been surmounted and that's enormously important.
Buffett also criticized Obama's cap-and-trade energy tax scheme as a "huge, regressive tax."
He is basically saying that the stimulous/porkulous bills failed (i.e., Obama failed). All they accomplished was to saddle the country with four times the national debt we had previously.
Speaking of the economy, one of the architects of the current meltdown, Congressman Barney Frank is at it again (it seems the "Banking Queen" hasn't learned his lesson):
Two U.S. Democratic lawmakers (Representatives Barney Frank, the chairman of the House Financial Services Committee, and Anthony Weiner) want Fannie Mae and Freddie Mac to relax recently tightened standards for mortgages on new condominiums, saying they could threaten the viability of some developments and slow the housing-market recovery.Source: Reuters.
I'll go out on a limb and make a prediction: the economy will get worse and this, along with the Democrats' tax and spending schemes will cause them to lose both majorities in congress and will threaten the very existence of the Democrat Party.
No comments:
Post a Comment