Comments on: Come on, Buffett! http://www.ritholtz.com/blog/2009/03/come-on-buffett/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Tue, 14 Feb 2012 13:30:51 +0000 hourly 1 http://wordpress.org/?v=3.0.5 By: johnny http://www.ritholtz.com/blog/2009/03/come-on-buffett/comment-page-1/#comment-152794 johnny Thu, 12 Mar 2009 08:14:27 +0000 http://www.ritholtz.com/blog/?p=21312#comment-152794 like this is all obama's fault. there is no other solution. To let the banking system fail would be utter mayhem for decades. with all the stimulus, this is as soft as it gets. And it feels like we missed the pool and landed on the cement. Fear is great and irrational. I'm a buyer in this market with what little I have. If you were really learnit, when studying the GD, you would have noticed that the market bounced prior to peak unemployment. US equities is the best asset right now hands down. This will not be the next great depression because the money supply is flexible. We are also not suffering from a dust bowl causing mass starvation. Debtless money is abound right now. It is a myth that rising commodity prices is a result of demand. But this kind of inflation will never spin out of control because the higher price will cause demand destruction due to the higher price. So this is not the kind of inflation I fear, nor is it ever a problem. The inflation I fear is money supply growth that can spiral out of control. It is not self regulating. Whether this money is backed by debt is meaningless because debt can be defaulted on and the money lent is merely entries in an accounting ledger transferred electronically. If you though we had high inflation in the seventies and eighties, you ain't seen nothin' yet. like this is all obama’s fault. there is no other solution. To let the banking system fail would be utter mayhem for decades. with all the stimulus, this is as soft as it gets. And it feels like we missed the pool and landed on the cement. Fear is great and irrational. I’m a buyer in this market with what little I have. If you were really learnit, when studying the GD, you would have noticed that the market bounced prior to peak unemployment. US equities is the best asset right now hands down. This will not be the next great depression because the money supply is flexible. We are also not suffering from a dust bowl causing mass starvation. Debtless money is abound right now. It is a myth that rising commodity prices is a result of demand. But this kind of inflation will never spin out of control because the higher price will cause demand destruction due to the higher price. So this is not the kind of inflation I fear, nor is it ever a problem. The inflation I fear is money supply growth that can spiral out of control. It is not self regulating. Whether this money is backed by debt is meaningless because debt can be defaulted on and the money lent is merely entries in an accounting ledger transferred electronically. If you though we had high inflation in the seventies and eighties, you ain’t seen nothin’ yet.

]]> By: Moopheus http://www.ritholtz.com/blog/2009/03/come-on-buffett/comment-page-1/#comment-152728 Moopheus Thu, 12 Mar 2009 00:10:26 +0000 http://www.ritholtz.com/blog/?p=21312#comment-152728 Thanks for this. I would go further. Shrinking the financial services industry basically means not giving them your money. It means you have to look at all the ways they've cooked up to control your money (mutual funds, money market funds, 401K funds, etc.) and cash out. Hold cash outside of the banking system; use community banks instead of national banks. Don't use credit cards; pay cash (how much do they make in fees?). Pay off debts. Don't run up new debts. Starve the beast. The regulators won't do it. The industry won't do it. We have to do it. Thanks for this. I would go further. Shrinking the financial services industry basically means not giving them your money. It means you have to look at all the ways they’ve cooked up to control your money (mutual funds, money market funds, 401K funds, etc.) and cash out. Hold cash outside of the banking system; use community banks instead of national banks. Don’t use credit cards; pay cash (how much do they make in fees?). Pay off debts. Don’t run up new debts. Starve the beast. The regulators won’t do it. The industry won’t do it. We have to do it.

]]> By: How the Common Man Sees It http://www.ritholtz.com/blog/2009/03/come-on-buffett/comment-page-1/#comment-152530 How the Common Man Sees It Wed, 11 Mar 2009 14:07:19 +0000 http://www.ritholtz.com/blog/?p=21312#comment-152530 @usphoenix Says:March 11th, 2009 at 1:10 am I'm not going to argue with you. The facts speak for themselves and this is not the post to do it at. You are one of the many who are entering the denial phase of your mortality and will take it out on anyone that challenges your generation's legacy. The desperate boomer thrashing is about to start for all to see. You guys are going to meet your maker whether you like it or not As for paying my way, I've been paying my way for 25 years and owe no man anything. I may not have much, but what I have is paid for....after taxes @usphoenix Says:March 11th, 2009 at 1:10 am

I’m not going to argue with you. The facts speak for themselves and this is not the post to do it at. You are one of the many who are entering the denial phase of your mortality and will take it out on anyone that challenges your generation’s legacy. The desperate boomer thrashing is about to start for all to see. You guys are going to meet your maker whether you like it or not

As for paying my way, I’ve been paying my way for 25 years and owe no man anything. I may not have much, but what I have is paid for….after taxes

]]> By: Kyle http://www.ritholtz.com/blog/2009/03/come-on-buffett/comment-page-1/#comment-152482 Kyle Wed, 11 Mar 2009 08:22:38 +0000 http://www.ritholtz.com/blog/?p=21312#comment-152482 "You see things through your eyes." Better than seeing things through a greedy banker's (CNBC) eyes. "You don’t like it, change it. But pay your own way." Unfortunately there are too many old people/idiots to change it enough. I don't have the option of not paying for the Iraq war. Oh but all the oil there was supposed to pay for our invasion... What happened to that? We don't have to pay our own way, we're just going to inflate away all your debts and devalue your savings. Medicare will still survive, and as an unfortunate side effect so will you. “You see things through your eyes.”

Better than seeing things through a greedy banker’s (CNBC) eyes.

“You don’t like it, change it. But pay your own way.”

Unfortunately there are too many old people/idiots to change it enough. I don’t have the option of not paying for the Iraq war. Oh but all the oil there was supposed to pay for our invasion… What happened to that? We don’t have to pay our own way, we’re just going to inflate away all your debts and devalue your savings. Medicare will still survive, and as an unfortunate side effect so will you.

]]> By: usphoenix http://www.ritholtz.com/blog/2009/03/come-on-buffett/comment-page-1/#comment-152472 usphoenix Wed, 11 Mar 2009 05:10:06 +0000 http://www.ritholtz.com/blog/?p=21312#comment-152472 The Boomers left no path of destruction. You are an ungrateful. You see things through your eyes. You have no concept. Go ahead and whine. That's your generation's way. It's someone else's fault. You don't like it, change it. But pay your own way. You have not done that yet. The Boomers left no path of destruction.

You are an ungrateful. You see things through your eyes. You have no concept.

Go ahead and whine. That’s your generation’s way. It’s someone else’s fault.

You don’t like it, change it. But pay your own way. You have not done that yet.

]]> By: How the Common Man Sees It http://www.ritholtz.com/blog/2009/03/come-on-buffett/comment-page-1/#comment-152469 How the Common Man Sees It Wed, 11 Mar 2009 04:48:42 +0000 http://www.ritholtz.com/blog/?p=21312#comment-152469 I have a pretty good understanding of it. I have been following in the boomer's wake all of my life so I know the path of destruction they left I have a pretty good understanding of it. I have been following in the boomer’s wake all of my life so I know the path of destruction they left

]]> By: usphoenix http://www.ritholtz.com/blog/2009/03/come-on-buffett/comment-page-1/#comment-152441 usphoenix Wed, 11 Mar 2009 01:18:21 +0000 http://www.ritholtz.com/blog/?p=21312#comment-152441 @How the Common Man Sees It: See, you've got the same problem. "Boomers" is not an adequately accurate social term except as a target for your Angst. Yeah, I suppose the 1% is more concentrated in the Boomers than elsewhere. But the elsewhere is about to inherit it. The fact is, the Boomers with all if it are an incredibly small % of the Boomers. It's the Boomer with all of it that are the problem. Boomers are far more fractured. There are the successful incredibly wealthy, some financially secure after several years of working and saving, and more that can't find work. You also have to remember a lot of Boomers have what they have because they were frugal and saved. They didn't need $5 lattes to and from work. They were lucky to be able to afford a hamburger once in a while. So do you think it's particularly fair or brilliant to spread the blame over all the Boomers? To say they own it? Maybe you're right. Maybe there are too many of them that can't relate. But I don't hear them criticizing the later generations and arguing against a fairer society. OTH. Maybe you have a better grasp. I am not a Boomer with a lot of money or a lot of power. And neither you nor I should speak about a subject we have such a poor understanding of. You insult me by inclusion. @How the Common Man Sees It: See, you’ve got the same problem. “Boomers” is not an adequately accurate social term except as a target for your Angst.

Yeah, I suppose the 1% is more concentrated in the Boomers than elsewhere. But the elsewhere is about to inherit it.

The fact is, the Boomers with all if it are an incredibly small % of the Boomers. It’s the Boomer with all of it that are the problem. Boomers are far more fractured. There are the successful incredibly wealthy, some financially secure after several years of working and saving, and more that can’t find work.

You also have to remember a lot of Boomers have what they have because they were frugal and saved. They didn’t need $5 lattes to and from work. They were lucky to be able to afford a hamburger once in a while.

So do you think it’s particularly fair or brilliant to spread the blame over all the Boomers?

To say they own it? Maybe you’re right. Maybe there are too many of them that can’t relate. But I don’t hear them criticizing the later generations and arguing against a fairer society.

OTH. Maybe you have a better grasp. I am not a Boomer with a lot of money or a lot of power. And neither you nor I should speak about a subject we have such a poor understanding of.

You insult me by inclusion.

]]> By: How the Common Man Sees It http://www.ritholtz.com/blog/2009/03/come-on-buffett/comment-page-1/#comment-152337 How the Common Man Sees It Tue, 10 Mar 2009 19:48:38 +0000 http://www.ritholtz.com/blog/?p=21312#comment-152337 @usphoenix Says:March 10th, 2009 at 12:58 am The boomers have the majority of the power and a majority of what is left of the wealth right now. So, for the most part, I'd say they own it @usphoenix Says:March 10th, 2009 at 12:58 am

The boomers have the majority of the power and a majority of what is left of the wealth right now. So, for the most part, I’d say they own it

]]> By: How the Common Man Sees It http://www.ritholtz.com/blog/2009/03/come-on-buffett/comment-page-1/#comment-152335 How the Common Man Sees It Tue, 10 Mar 2009 19:45:58 +0000 http://www.ritholtz.com/blog/?p=21312#comment-152335 Buffett is still wrong: http://network.nationalpost.com/np/blogs/francis/archive/2009/03/10/buffett-is-still-wrong.aspx I don't think he is necessarily wrong. I think he is just towing the party line to keep all the sheeple from bolting...or revolting. He is playing the role of the judas sheep perfectly. His 'job' is to maintain the economic status quo which is why he sounds so far out of alignment. A lot of credibility is crashing and burning in this pullback Buffett is still wrong:

http://network.nationalpost.com/np/blogs/francis/archive/2009/03/10/buffett-is-still-wrong.aspx

I don’t think he is necessarily wrong. I think he is just towing the party line to keep all the sheeple from bolting…or revolting. He is playing the role of the judas sheep perfectly. His ‘job’ is to maintain the economic status quo which is why he sounds so far out of alignment. A lot of credibility is crashing and burning in this pullback

]]> By: usphoenix http://www.ritholtz.com/blog/2009/03/come-on-buffett/comment-page-1/#comment-152174 usphoenix Tue, 10 Mar 2009 04:58:17 +0000 http://www.ritholtz.com/blog/?p=21312#comment-152174 Agree with comments totally, as does most everyone in the country except the oligarchs. Fascinating. They are going to do what they are going to do. We have to learn to accept it. @l_emmerdeur: Funny you would call the Boomers the selfish generation. Your time frame just about corresponds to the time when Boomers started indulging their children, conditioning them to take for granted everything the Boomers did not have. If I were to pick the clueless generations they would be the spoiled ones that followed the Boomers. The anger toward the Boomers is merely a reflection things are so bad they may not be able to continue to spoil all the young people quite so thoroughly. And the younger generations are pretty much at sea what to do when Dad turns the spigot off. So you baited people and it worked. Guess that makes you feel pretty smart. This is not a generational issue. Sure some of the worst bad players are Boomers. But for every one of the bad players, there are a million Boomers that can't get a job. So I guess that makes them selfish. What say you brilliant one? Agree with comments totally, as does most everyone in the country except the oligarchs. Fascinating. They are going to do what they are going to do. We have to learn to accept it.

@l_emmerdeur: Funny you would call the Boomers the selfish generation. Your time frame just about corresponds to the time when Boomers started indulging their children, conditioning them to take for granted everything the Boomers did not have. If I were to pick the clueless generations they would be the spoiled ones that followed the Boomers. The anger toward the Boomers is merely a reflection things are so bad they may not be able to continue to spoil all the young people quite so thoroughly. And the younger generations are pretty much at sea what to do when Dad turns the spigot off.

So you baited people and it worked. Guess that makes you feel pretty smart.

This is not a generational issue. Sure some of the worst bad players are Boomers. But for every one of the bad players, there are a million Boomers that can’t get a job. So I guess that makes them selfish.

What say you brilliant one?

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