Schadenfreude: Obama Economics Advisor Loses 11 Billion Dollars

• March 3, 2009

Money-making machine Warren Buffett blames himself for his company losing $10.9 billion last year and predicts more bleak times ahead.
“The economy will be in shambles throughout 2009 – and for that matter, probably well beyond,” Buffett wrote Saturday in an annual letter to his Berkshire Hathaway shareholders.

What’s really interesting is that the man that Obama was bragging was one of his economic advisors is admitting in the first 40 days of the Obama administration that Obamanomics isn’t going to work.
Shambles is a pretty descriptive word. That’s far from saying that things are stabilized or are even on the mend. Shambles means that things are out of control and maybe getting worse.
I guess maybe Buffet is smarter than he lets on.
You can’t knock this guy’s success as an investor and as a manager. He’s been terrific at finding distressed properties (often because of the brutal death tax) and cashing in. But it seems when it comes to public policy he’s an expert at associating himself with turkeys. Didn’t he hang out with Arnold in Kalifornia as his economic adviser? How’s that working out.
Then in 2008 in shows up as cover for a socialist pretender to the Presidency.
Despite his setbacks in 2008 you should still listen to him for investment advice. But nobody should listen to him when it comes to public policy. If you do we get an economy in “shambles.”

Tags: Economy

http://proof-proofpositive.blogspot.com/ proof_positive

I’m just glad that you’re all losing just like Buffet. Especially those of you who had anything to do with real estate.

Dino: I just bought a second house and got a really good deal on it! It more than covered any “losses” I had on the first.
Come visit me down in California after you’re through transforming Portland into Detroit! I may be interviewing for a pool boy!
robert108

You droolers demonize anyone who doesn’t support your ignorant view of the world. No surprise here.

It’s always good for a laugh when the lefties project their own behavior on real Americans.
http://proof-proofpositive.blogspot.com/ proof_positive

These people are droolers who can’t fathom the idea of losing an election.

Hardy har har again! You say that we “lost an election, so we should STFU”, yet, that’s not what liberals did for the last eight years! Were all those liberals who complained about Bush “droolers who can’t fathom the idea of losing an election”? Excuse me, two elections!

Your hypocritical double standard is very amusing, Dino. But it only illustrates how thin skinned you are in not being able to weather for 30 days a fraction of the criticism or scrutiny that W endured for eight years. You may toddle off now!
http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

I know that you people are suffering with declining assets and a dim future. Those of you with kids are worried about their futures. The college fund is down. GOOD.

That makes me very happy.
carrick

Dino:

I know that you people are suffering with declining assets and a dim future

Neither is true, thanks for asking.

Good luck on that burger-flipping career you picked for yourself.
Mickey

Ken Lay and Bill Clinton were golf buddies. It should be noted that corporate corruption was at a record high during the Clinton administration. It was also during the Clinton administration that Enron was cooking the books. Hell, at one time that goofy Bill Clinton tried to blame the Oklahoma City bombing on Rush. And lets not forget Mark Rich, a far larger crook than Ken Lay.

You live in a glass house Sparkie.
dawneyr

LOL Mickey. That’s a funny picture but much too true to be hilarious.
Mickey
Hawk

All of the losses referenced here happened before Obama took the Presidency.
http://proof-proofpositive.blogspot.com/ proof_positive

You droolers demonize anyone who doesn’t support your ignorant view of the world. No surprise here.

Irony alert! Hypocrisy alert! Pot alert! Kettle called black!
Dino on December 8, 2008 at 03:05 am

Obama needs to demonize the republicans and especially, conservatives.

Guess we know who the true “droolers” are, don’t we gang? Heh.
http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

You droolers demonize anyone who doesn’t support your ignorant view of the world. No surprise here.

I’m just glad that you’re all losing just like Buffet. Especially those of you who had anything to do with real estate.
carrick

More blogroach turds.
http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

They know that Hawk. These people are droolers who can’t fathom the idea of losing an election. They’ll cheer the crashing of the car since they don’t get to drive anymore.

They’re bad citizens and bad people. The absolute worst subhumans on the planet. I see no redeemable characteristics in conservatives whatsoever.
carrick

BFD, Sparkie.
Hawk

When you donate as much to Planned Parenthood as Buffet and the Gates Foundation, you can’t seriously be surprise when you lose money.

How are is charitable donations relevant? I understand that you are opposed to Planned Parenthood, but what can you possibly have against the Gates Foundation?
http://proof-proofpositive.blogspot.com/ proof_positive

Mickey: Too funny!
http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

Bullshit Carrick. Even academia is losing. Even the super wealthy are losing.

You can pretend you escaped the mess but you didn’t. You wouldn’t be here if you did.
Hawk

Buffet made his fortune leveraging the estate tax to take over family-run business.

I am not even sure what that means? Are you saying he bought businesses that were forced to be sold do to the estate tax?
robert108

Obama’s economy is in a shambles. Marxism doesn’t work; never has, never will.
Bat One

Are you saying he bought businesses that were forced to be sold do to the estate tax?

Hawk,

I believe Rob was saying that Buffet bought businesses that were forced to be sold DUE to the estate tax.

Sheesh! Lawyers!
dawneyr

When you donate as much to Planned Parenthood as Buffet and the Gates Foundation, you can’t seriously be surprise when you lose money. Arrogance may be a blinder but it is no buffer.
http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

Many of us have already transferred our assets into tax-free municipal bonds, so as taxes are raised under Obama and the Democrats, our income will not be effected and our annual tax bill will actually be reduced.

You are so full of shit. I’m all too sure you’re all expert market timers. LOL. If you weren’t losing your asses you wouldn’t be here.

Especially you, in the real estate business, are losing. Which is only justice. Every day that I read about a real estate “professional” going broke or on the ropes, I celebrate.
Bat One

I’m all too sure you’re all expert market timers.

Market timers??? What has that got to do with anything? Obviously you have no idea what that term means either.

It’s pitiful really to watch someone so obviously desperate and starved for attention that you’d go to such lengths to parade your ignorance simply to have someone acknowledge you. Pathetic!
robert108

I am not even sure what that means?

“Don’t criticize what you can’t understand.” – Bob Dylan, The Times They are A’Changin’
http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

Tell me I’m wrong. Tell me Buffet wouldn’t have lost a penny if we were living under McCain/Palin.

I guess it would be all sunshine and pretty ponies. The conservative Utopia we were living under prior to Jan 20th.

You ignorant slime. Sore loser assholes.
Bat One

One of the principle differences between those of us on/in the Right and those on the Left is that we are, quite simply, smarter and more knowledgeable about economics and finance than our statist, leftwing brethren.

Many of us have already transferred our assets into tax-free municipal bonds, so as taxes are raised under Obama and the Democrats, our income will not be effected and our annual tax bill will actually be reduced.

Sorry, Swish!
carrick

Dino:

You can pretend you escaped the mess but you didn’t. You wouldn’t be here if you did.

I wouldn’t be where?

Unless with you, I have no need to pretend. The last 10 years have been very good to me, family illnesses aside.
TomTom

Frigging Bleeders will defend Lying Barry all the way to the soup lines.
http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

There’s not much more to these conservative than schadenfreude.
Bat One

All of the losses referenced here happened before Obama took the Presidency.

Irrelevant, counselor. Warren Buffet made his fortune and his reputation as a shrewd user of financial leverage and a long-term investor in businesses and companies he understands. His status as an “advisor” to the glitterati of the Left is little more than window dressing, for there is nothing in Mr. Buffet’s resume to recommend him as any sort of a guru on national fiscal policy. In his later years, Mr. Buffet has come to enjoy a certain modest level of public attention. As an “advisor” to either Obama or Schwarzenegger, he is little more than a congenial prop.
http://sayanythingblog.com/readers/author/sparkiearbuckle sayanything-81

Point of post: Obama’s advisor lost money.

My point: Bush/Cheney’s adviser was a thief, a liar, a criminal, and he lost money.

Additional point: Who the eff didn’t just loose money?

The logic here cuts like little plastic safety scissors.
http://suitepotato.blogspot.com/ sayanything-4808

I’d like to remind Dino that thanks to the continuing sliding economy, I will likely get to lock in a fixed rate of under 6% by this time next year just so the mortgage company can avoid my rate falling to 4% or lower.

When the economy rebounds which it will an extra one to two years longer than normal thanks to O, I will be able to refi again and get probably another $50K back OR simply keep the lower rate and the savings, and use it to build another business.

What declining assets you asshole?

You are such a moron.
http://sayanythingblog.com robport

Buffet made his fortune leveraging the estate tax to take over family-run business.

I’m an atheist, but I’m tempted to say that this is karma.
http://sayanythingblog.com/readers/author/sparkiearbuckle sayanything-81

Remember when Cheney was meeting with Lay? The same Lay who turned out to be a criminal, lying-sack-of-shit, thief? Yea. At least Buffet isn’t a thieving and lying sack of shit like the late (thank god he’s dead) Mr. Lay.

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Schadenfreude: Obama Economics Advisor Loses 11 Billion Dollars

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