Buffett says US in 'economic Pearl Harbor'

[seemslikeadream]

http://www.breitbart.com/article.php?id=D95PT3EO2&show_article=1

OMAHA, Neb. (AP) - Billionaire investor Warren Buffett says the U.S. is engaged in an "economic Pearl Harbor."
In an interview that aired Sunday on "Dateline NBC," the chairman and CEO of Berkshire Hathaway Inc. said the nation's economic situation is not as bad at World War II or the Great Depression, but it's still pretty severe.

Buffett said Americans are in a cycle of fear, "which leads to people not wanting to spend and not wanting to make investments, and that leads to more fear. We'll break out of it. It takes time."

Buffett's interview centered on President-elect Barack Obama and the tough task he faces in fixing the U.S. economy.

"You couldn't have anybody better in charge," the Omaha resident said of Obama, who'll be sworn into office on Tuesday.

As one of Obama's economic advisers, Buffett said the president-elect listens to what his advisers say, but ultimately comes up with better ideas.

He predicted that Obama will be able to convey the severity of the economic situation to the American people and explain their part in alleviating it.

As to how long the crisis would continue, Buffett said he didn't know.

"It's never paid to bet against America," he said. "We come through things, but its not always a smooth ride."

[SoCalDem]

1. Not surprising really, when MOST of the wealth and access to wealth

is so concentrated at the tippy-top..and when the "usual" method of keeping that moolah, consists of job-elimination for the masses..whodathunkit?

[madrchsod]

2. are you going to delete all those wonderful pictures of pickles?

or maybe a retrospective


i must say it grand to have a first lady that can actually dress....:applause:

[SoCalDem]

4. I have "something" planned for Jan 21..

[blues90]

3. Easy for Buffett to say, he's not at the bottom .

Beside that I doubt it is fear the people have , it is no income and jobs and businessess vanishing.

I am sick of the people at the top of the heap offering advice and a government who offers up a wet bag of hope or we will make it, well news flash many won't and who speaks for them, many haven't and are now forgotten with no lesson learned. If you aren't in the game you don't matter or count.

Yeah , I know. I just have to ask all the Dems what they have done in the last 2 years to fend off this madness and I and many others voted for them.

What is there 140,000 lobbyists and reps with their pockets filled and corporations that stole everything and offered up the lives of american soldiers to protect their interests and fill their bank accounts and blackwater and on and on. Let them pay the costs and bail out the banks and wallstreet and let the people the hell alone so they can at least scrape up enough to eat and stay out of the cold and rain and heat.

Shock and Awe sounds an awefull lot like suffer and pay.