View Single Post
Old 02-06-2013, 08:51 AM   #16
Rhumb
Registered User
 
Join Date: Apr 2007
Location: Virginia
Posts: 104
My Ride: 2001 M3 Coupe
Quote:
Buffett has been drastically reducing his exposure to stocks that depend on consumer purchasing habits.
Perhaps yet another reason to do away with that failed scam known as supply-side, trickle-down economics and coddling the rarefied few and directly address and bolster middle-class earnings and wealth, not as some incidental by-product of economic detritus dribbling down off the smorgasbord of the 1%.

Quote:
Fellow billionaire John Paulson, who made a fortune betting on the subprime mortgage meltdown, is clearing out of U.S. stocks too.
Why do I then find this somehow reassuring? Perhaps he is not expecting another mortgage meltdown to swoop down on, vulture like, to feast upon the carcasses of the victims once again.

Quote:
In 2006, Wiedemer and a team of economists accurately predicted the collapse of the U.S. housing market, equity markets, and consumer spending that almost sank the United States.
Shoot fire, I'm no economist by any stretch of the imagination, but I would tell anyone who would listen (precious few) that the housing market was an obvious bubble propping up the rest of the economy and that when that bubble inevitably popped, so would the rest of the economy. If some economic dolt like me could see that coming, I'm not sure coming to the same rather obvious conclusion makes Wiedemer some sort of prescient seer.
Rhumb is offline   Reply With Quote