PeakOil is You
THE Warren Buffett Thread (merged)
Re: Interesting perspective from Warren Buffett on U.S> f
by pup55 » Sun 20 Jan 2008, 20:01:19
$this->bbcode_second_pass_quote('', 'I')t is not impossible, that there may be persons disposed to look with a jealous eye on the introduction of foreign capital, as if it were an instrument to deprive our own citizens of the profits of our own industry; but perhaps there never could be a more unreasonable jealousy. Instead of being viewed as a rival, it ought to be considered as a most valuable auxiliary, conducing to put into motion a greater quantity of productive labor, and a greater portion of useful enterprise than could exist without it."
Hamilton
This from the jerk whose picture is on the $10. He also favored running up huge deficits, and enlarging the size of the central government for the same reason.
I think Jefferson, whose picture is on the nickel and the $2 bill, was dead against it. However, he knew a bargain when he saw it, and decided to run up the debt to buy the Louisiana Purchase.
This is an old argument.
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Re: Interesting perspective from Warren Buffett on U.S> f
by Jason_h » Mon 21 Jan 2008, 00:05:46
People have complained about foreign investment for a while. I remember back in the 80's with the Japanese investments everyone was running around screaming that we were "selling the country." Instead, people should recognize that the foreign investment is indicative of the strength of the US economy and the fact that these countries know that they can earn a greater return in the US economy than in their own countries.
In addition, while people are focusing on these cash infusions in the financial companies, you need to look at the foreign inflows in comparison to the overall economy. Between Q3 2006 and Q3 2007, the US economy grew by over $700 billion. The vast majority of that growth was due to domestic sources, not foreign capital inflows.
In addition, while people are focusing on these cash infusions in the financial companies, you need to look at the foreign inflows in comparison to the overall economy. Between Q3 2006 and Q3 2007, the US economy grew by over $700 billion. The vast majority of that growth was due to domestic sources, not foreign capital inflows.
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Re: Interesting perspective from Warren Buffett on U.S> f
by Colorado-Valley » Mon 21 Jan 2008, 02:17:25
How much did the federal debt grow over the same amount of time?
This massive debt is going to destroy what we think of as the United States.
I'm afraid to guess what will replace it.
This massive debt is going to destroy what we think of as the United States.
I'm afraid to guess what will replace it.
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Re: Interesting perspective from Warren Buffett on U.S> f
by Tyler_JC » Mon 21 Jan 2008, 02:37:51
$this->bbcode_second_pass_quote('Colorado-Valley', 'H')ow much did the federal debt grow over the same amount of time?
This massive debt is going to destroy what we think of as the United States.
I'm afraid to guess what will replace it.
This massive debt is going to destroy what we think of as the United States.
I'm afraid to guess what will replace it.
It's bad but not hopeless.
Moreover, the debt is in our own currency so it will NOT be like Argentina.
Even more important, lots of that debt is being financed cheaply so interest payments as a % of GDP are much lower than in the 1980s.
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Re: Interesting perspective from Warren Buffett on U.S> f
by Concerned » Mon 21 Jan 2008, 14:38:17
$this->bbcode_second_pass_quote('Tyler_JC', '
')It's bad but not hopeless.
Moreover, the debt is in our own currency so it will NOT be like Argentina.
Even more important, lots of that debt is being financed cheaply so interest payments as a % of GDP are much lower than in the 1980s.
')It's bad but not hopeless.
Moreover, the debt is in our own currency so it will NOT be like Argentina.
Even more important, lots of that debt is being financed cheaply so interest payments as a % of GDP are much lower than in the 1980s.
Last time there was sky high debt the US had just "won" a world war and was the equivalent of 50% of the global economy, wages and prosperity were rising on a broad based social level Oh... and there was lots of high quality oil and cheap energy to found.
I think it is pretty hopeless.
Mind you under Bill Clinton the US did reign in some debt by the looks of that chart.
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Re: Interesting perspective from Warren Buffett on U.S> f
by Tanada » Mon 21 Jan 2008, 16:38:59
$this->bbcode_second_pass_quote('Concerned', '
')I think it is pretty hopeless.
Mind you under Bill Clinton the US did reign in some debt by the looks of that chart.
')I think it is pretty hopeless.
Mind you under Bill Clinton the US did reign in some debt by the looks of that chart.
Look again, the low point is decidedly the Ford and Carter administrations, not the Clinton debacle.
$this->bbcode_second_pass_quote('Alfred Tennyson', 'W')e are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
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