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THE Warren Buffett Thread (merged)

Discussions about the economic and financial ramifications of PEAK OIL

Re: Warren Buffett is "Tapped Out"

Unread postby deMolay » Thu 25 Sep 2008, 06:32:04

He is trying to lead the sheep back into the slaughterhouse with a bucket of oats. Read the 1929 Bankers Bailout.
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Re: Warren Buffett is "Tapped Out"

Unread postby ReverseEngineer » Thu 25 Sep 2008, 06:35:37

Gorm wrote:No, the game never ends. It change forms, but does not never ever end untill we are extinct.

Life goes on and one has to adapt or die.


Oh, long as you have SOME people left, you can ALWAYS start a new game later. Just this particular economic game that consumed the wealth of the planet first in its ability to support the top of the food chain humans as the population exploded resulting from agriculture and then further overshooting utilizing fossil fuels is now OVER.

IF anybody walks away from this one standing, what will the Rules be NEXT time around? Will the cycle repeat itself again, and will Greed rule to the point of self destruction? Or will the lessons be learned this time that taking more than your fair share and not delivering unto the community more than you take from it is counterproductive to the survival of your species?

These lessons were all there for all of you to read, from the lessons of ancient societies in Bilical times to the Nature of the Wealth of Nations in Adam Smith's time. From the poulation dynamics described by Malthus to the social implications described by Machiavelli to the Predictions of Nostradamus. Always it was there to be seen, many others have seen this coming long ago.

We have the misfortune of witnessing the results of this game, this time around. Maybe there will be another game somewhere down the road, maybe there will be a Resurrection of society. One can only hope the same mistakes are not made again. Learn the lessons given herein. Take only what you need from the world, and no more. Give unto others with no expectation of return. Respect Mother Nature, for it is from her bosom that our life springs. Remember always that true wealth is not in worldly goods, but in your spirit.

These lessons were written before by others. I just paraphrase them here, and I came to them not because I am a Christian, but through the logic of mathematics. I learned the lessons in my boyhood, and I never forgot them. Not easy to live in the society where greed is so rampant, where obese people walk about the malls while others starve and children toil away in Indian sweatshops. But I did, I wandered the earth in my Big Rig for a while, wandered about teaching children a while longer than that. I learned the lessons of frugality to make my life work, and I never was poor because of that.

You all have this before you now. Its not a pleasant reality, but it is the TRUTH. That is what I have always sought, the underlying truth in the world I live in. If you want to deny it, this is your right of course. I just call it as I see it, based on the numbers.

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Re: Warren Buffett is "Tapped Out"

Unread postby Gorm » Thu 25 Sep 2008, 06:51:14

I dont see it that way. There will not be "a next time" becuse in my wiew it will not stop. But, it will change a lot in the near future that seems given considering peak oil.
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Re: Warren Buffett is "Tapped Out"

Unread postby sparky » Thu 25 Sep 2008, 07:21:06

.

Nope it's going to be ghastly .

If there is a rebirth , it's going to be the same mistakes but grubbier and nastier


.
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Re: Warren Buffett is "Tapped Out"

Unread postby mefistofeles » Thu 25 Sep 2008, 07:28:52

I can't believe it Warren Buffet is losing his touch! He even his 130 million ounce silver position back in 06. This wasn't some shabby ETF he actually took delivery on 130 million ounces!

However back to topic I think Buffet is simply doubling down. Its basic poker, you can either walk away from a hand or double down. The market is the only one who can "call" your hand.

Buffet made the vast majority of his money on stocks, its hard not to see him trying to game the stock market somehow.

Is he right? I really doubt it, who knows maybe he can pull a rabbit out of his hat.

Despite what your investment advisor may tell you really are gambling with your money when you play in any financial asset market be it stocks,bonds or mutual funds.

By this interpretation Buffet is just placing another bet. Even if he walked away from the table he would be betting, betting that he couldn't do any better.

As Kenny Rogers song the Gambler goes:

Know when to fold'em
Know when to hold'em
Know when to walk away
Know when to run
You never count your money
At the table
There will be plenty of time for counting when the dealing's done.
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Re: Warren Buffett is "Tapped Out"

Unread postby MrBean » Fri 26 Sep 2008, 04:16:59

Life is not a game. It can be child's play, though.
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Re: Warren Buffett is "Tapped Out"

Unread postby TheDude » Fri 26 Sep 2008, 06:35:25

Cogito, ergo non satis bibivi
And let me tell you something: I dig your work.
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Re: Warren Buffett is "Tapped Out"

Unread postby seldom_seen » Fri 26 Sep 2008, 07:00:32

The article I read, regarding the Goldman thing says Buffett has a "right" to buy a certain amount of Goldman stock at a certain price over like 5 years.

As far as we know Buffet hasn't spent a dime on Goldman Sachs and he never will. The whole think stinks of a PR stunt by Goldman to say "Oh look, Buffett the super smart investor dude. He's confident in us...shouldn't you be? We're Goldman, we kick ass. Buffett likes us, shouldn't you?"
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Re: Warren Buffett is "Tapped Out"

Unread postby mklkatreeandleaf » Fri 26 Sep 2008, 08:13:30

The stock market is like a gambling institution, it is a legal way to fleece the commons, but when the common has all his pot in thebet, and half was the mortgage for the house, thn the knives come out, the rich guys will loose everything, the poor guys will loose everything, the government will come in with a new economic system and use this as the reason for a coup on the people and proclaim digital control of the world through the internet, and then the nuclear war will start

Russia willl NOT allow the US to take complete control of the world economy

this has already happpened.
The game IS over, but for the nuclear winter.
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Re: Warren Buffett is "Tapped Out"

Unread postby VMarcHart » Fri 26 Sep 2008, 09:01:24

ReverseEngineer wrote:Warren coughed up $5B of his digital wealth to Goldman in order to save his life...
Something doesn't jive. Buffett was ranked the world's wealthiest man in Feb '08, is 78 years old, a widower, drives a Chevy, and already said repeatedly he will not leave a dime for his heirs. I'm sure, make that positive, Buffett has sufficient cold hard cash under his mattress for his last 10-15 living years. Whether digital wealth or not, I don't think he's saving HIS life. He's made.
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Re: Warren Buffett is "Tapped Out"

Unread postby Tyler_JC » Sat 27 Sep 2008, 12:02:17

Goldman is fine.

Our current secretary of treasurer was their CEO or COO for almost a decade.

He isn't going to let his friends lose their jobs.
"www.peakoil.com is the Myspace of the Apocalypse."
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Buffet Now on My SOS list.

Unread postby Cashmere » Sun 28 Sep 2008, 13:31:48

With the SOS being Sack of Suds. This guy takes a long position in GS, which will only pan out if the bailout goes through, and then he threatens
Billionaire Warren Buffett told congressional negotiators that if they can't agree on a proposed financial bailout, the nation will face "its biggest financial meltdown in American history," two sources familiar with the talks said.

Scum bag. Fear mongering for money. How much is enough for this guy? He knows that a bail out makes the long term outlook worse. He's pulling a T Boone and trying to cash out before it all comes down. Scum bag.

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Last edited by Ferretlover on Mon 23 Mar 2009, 23:36:43, edited 1 time in total.
Reason: Merged with THE Warren Buffett Thread.
Massive Human Dieoff <b>must</b> occur as a result of Peak Oil. Many more than half will die. It will occur everywhere, including where <b>you</b> live. If you fail to recognize this, then your odds of living move toward the "going to die" group.
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Re: Buffet Now on My SOS list.

Unread postby DantesPeak » Sun 28 Sep 2008, 13:54:59

Those supporting the bailout like Buffet, Gross, etc., have much to lose without the government bailout them out.

Since we found out today a main reason AIG was bailed out was because Goldman Sachs had $20 billion in CDS covering their debts, and so faced huge losses and a meltdown, it's not surprising for these guys to think that they will be bailed out too.
It's already over, now it's just a matter of adjusting.
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Re: Buffet Now on My SOS list.

Unread postby cube » Sun 28 Sep 2008, 14:19:18

I still have respect for Warren Buffett however he has definitely fell down 3 steps on the ladder in my eyes.

I don't have a problem with people who make their money by out-smarting the competition but this has nothing to do with "smarts". It is purely trying to capitalize on a situation by being in a "privileged position".
//
I think there should be NO bailout.

my 2 cents
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Re: Buffet Now on My SOS list.

Unread postby Novus » Sun 28 Sep 2008, 14:36:27

Warren Buffet is a parasite that pretty much represents a lot of what is wrong with America. He is one of the TPTB I would like to see publicly hanged before the collapse.
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Re: Buffet Now on My SOS list.

Unread postby BigTex » Sun 28 Sep 2008, 14:47:00

I respectfully disagree about Warren Buffet.

He has avoided debt while the rest of Wall Street has wallowed in it, so now he has cash when everyone else is broke.

GS called him about investing in GS. He liked the terms and he invested his company's money. That's what any investor would do.

I agree with Buffet that some sort of government action is necessary at this time to avoid an imminent emergency. I don't think there is any government action that will address the inherent weaknesses in our system, but I think we can probably patch it together for a while longer. It's obviously going to fall apart at some point, the question is whether it will be next week, next year, or maybe a little farther out.

Buffet probably saved the government money by possibly preventing the collapse of GS (my opinion).

Buffet said the dollar was in trouble a while back.

He said ethanol didn't make any sense.

He's also been a long time advocate of paying more attention to the overpopulation problem.

He might be a closet doomer.
:)
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Re: Buffet Now on My SOS list.

Unread postby Snowrunner » Sun 28 Sep 2008, 19:08:50

BigTex wrote:I agree with Buffet that some sort of government action is necessary at this time to avoid an imminent emergency. I don't think there is any government action that will address the inherent weaknesses in our system, but I think we can probably patch it together for a while longer. It's obviously going to fall apart at some point, the question is whether it will be next week, next year, or maybe a little farther out.


In past times, when things got really bad, heads where chopped off.

So why not do it this time around? If the Government is so concerned about "Mainstreet" then the answer is to offer Mainstreet directly support, e.g. Set up a new Fond and allow people to apply for money if they need it (and if it is fiscally sound), this would cost a lot less than 700 billion (or however much it is going to cost in the end), will be a lot ore transparent AND directly benefit the people at the bottom.

Buffet clearly is doing what he has always done: He sees an opportunity and he fully uses it.

As the saying goes: Don't hate the player, hate the game.
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Re: Buffet Now on My SOS list.

Unread postby Kristen » Sun 28 Sep 2008, 19:20:10

Snowrunner wrote:
BigTex wrote:I agree with Buffet that some sort of government action is necessary at this time to avoid an imminent emergency. I don't think there is any government action that will address the inherent weaknesses in our system, but I think we can probably patch it together for a while longer. It's obviously going to fall apart at some point, the question is whether it will be next week, next year, or maybe a little farther out.


In past times, when things got really bad, heads where chopped off.

So why not do it this time around? If the Government is so concerned about "Mainstreet" then the answer is to offer Mainstreet directly support, e.g. Set up a new Fond and allow people to apply for money if they need it (and if it is fiscally sound), this would cost a lot less than 700 billion (or however much it is going to cost in the end), will be a lot ore transparent AND directly benefit the people at the bottom.

Buffet clearly is doing what he has always done: He sees an opportunity and he fully uses it.

As the saying goes: Don't hate the player, hate the game.


I totally agree with chopping off some heads, sharpen the guilloutine blade and line em up. There should be no bailout for gamblers. If I go to a casino and blow my life savings and ask the government for help they'd be like up yours buddy. People should be held accountable for their own actions.
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Re: Buffet Now on My SOS list.

Unread postby nobodypanic » Sun 28 Sep 2008, 19:29:24

how about them cowboys? :lol:
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Re: Buffet Now on My SOS list.

Unread postby BigTex » Sun 28 Sep 2008, 19:32:55

Kristen wrote:
Snowrunner wrote:
BigTex wrote:I agree with Buffet that some sort of government action is necessary at this time to avoid an imminent emergency. I don't think there is any government action that will address the inherent weaknesses in our system, but I think we can probably patch it together for a while longer. It's obviously going to fall apart at some point, the question is whether it will be next week, next year, or maybe a little farther out.


In past times, when things got really bad, heads where chopped off.

So why not do it this time around? If the Government is so concerned about "Mainstreet" then the answer is to offer Mainstreet directly support, e.g. Set up a new Fond and allow people to apply for money if they need it (and if it is fiscally sound), this would cost a lot less than 700 billion (or however much it is going to cost in the end), will be a lot ore transparent AND directly benefit the people at the bottom.

Buffet clearly is doing what he has always done: He sees an opportunity and he fully uses it.

As the saying goes: Don't hate the player, hate the game.


I totally agree with chopping off some heads, sharpen the guilloutine blade and line em up. There should be no bailout for gamblers. If I go to a casino and blow my life savings and ask the government for help they'd be like up yours buddy. People should be held accountable for their own actions.


Buffet is not asking for money from anyone.

As I said, he probably prevented the demise of both GS and Morgan Stanley by throwing his weight behind GS, so if anything he probably helped dampen the severity of the current situation.

Buffet was the one who called this bad mortgage debt "financial weapons of mass destruction" several years ago.

Buffet's head is more useful on his shoulders.
:)
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