Inflation and a recession are now here :(
- Thread starter lawpoke87
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He already was a politician. He's had the bad habits of a politician for decades.
Remember when he was allowed to buy a media company and tell the world he wanted to make it a neutral place for free speech?
Like he really fooled anybody. Idiot CEO of Twitter and it's board members were in such a pickle they forced him with court threats. I wish that they had a literal gag in their mouths.
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Remember when the Federal government censored the speech of its citizens who dared challenge their policies ? ….but yeah…Elon is the threat
Bloomberg: Inflation fears rising
"A week of sobering economic news for America ended with, well, more of the same. The long-term inflation expectations of US consumers rose to its highest level in almost three decades. Their reasons? Growing concern that President Donald Trump’s accumulating number of tariff threats against friend and foe alike will translate into higher prices.
Consumers said they expect prices will climb at an annual rate of 3.5% over the next five to 10 years, according to the final February reading from the University of Michigan. The rate is the highest since 1995, based on data compiled by Bloomberg. All five components of the index deteriorated, including a drop in buying conditions for big-ticket items. And more than half of consumers in the survey expect the unemployment rate to rise over the next year, the highest since 2020."
"A week of sobering economic news for America ended with, well, more of the same. The long-term inflation expectations of US consumers rose to its highest level in almost three decades. Their reasons? Growing concern that President Donald Trump’s accumulating number of tariff threats against friend and foe alike will translate into higher prices.
Consumers said they expect prices will climb at an annual rate of 3.5% over the next five to 10 years, according to the final February reading from the University of Michigan. The rate is the highest since 1995, based on data compiled by Bloomberg. All five components of the index deteriorated, including a drop in buying conditions for big-ticket items. And more than half of consumers in the survey expect the unemployment rate to rise over the next year, the highest since 2020."
In glorious Xinjang morale boosting camps there is no inflation
Ironic the day Bloomberg publishes a story about inflation concern the bond market sees yields lower to a 30 day low. Article doesn’t make a lot is sense in that if we see the labor market soften then the odds we also see inflation rise is very low.
Thought this quote from Warren Buffet in this year's investor letter should resonate here... this coming after Berkshire paid a full 5% of all corporate income taxes gathered by the USA in 2024.
Berkshire’s activities now impact all corners of our country. And we are not finished. Companies die for many reasons but, unlike the fate of humans, old age itself is not lethal. Berkshire today is far more youthful than it was in 1965.
However,
as Charlie and I have always acknowledged, Berkshire would not have achieved its results in any locale except America whereas America would have been every bit the success it has been if Berkshire had never existed
So thank you, Uncle Sam. Someday your nieces and nephews at Berkshire hope to send you even larger payments than we did in 2024. Spend it wisely. Take care of the many who, for no fault of their own, get the short straws in life. They deserve better. And never forget that we need you to maintain a stable currency and that result requires both wisdom and vigilance on your part
Berkshire’s activities now impact all corners of our country. And we are not finished. Companies die for many reasons but, unlike the fate of humans, old age itself is not lethal. Berkshire today is far more youthful than it was in 1965.
However,
as Charlie and I have always acknowledged, Berkshire would not have achieved its results in any locale except America whereas America would have been every bit the success it has been if Berkshire had never existed
So thank you, Uncle Sam. Someday your nieces and nephews at Berkshire hope to send you even larger payments than we did in 2024. Spend it wisely. Take care of the many who, for no fault of their own, get the short straws in life. They deserve better. And never forget that we need you to maintain a stable currency and that result requires both wisdom and vigilance on your part
Thanks for posting. Uncle Sam has been fiscally irresponsible for decades. Hopefully we can get our fiscal house in order so we can continue to provide for those who got the short straws in life for decades and decades to come
I find it ironic that the old guy in Omaha who is responsible for generating a healthy portion of one of the larger income streams in the United States is telling the government to take care of it and to use it for the general welfare, as well as asking to keep the dollar stable...
So we put a guy in charge who's companies regularly pay nothing in federal taxes and who produces essentially little substantial value for the country.... who then focuses on reducing the general welfare and is on is way to destabilizing the economy. Wisdom and vigilance are in short supply in the federal government today.... even more so today than a few weeks ago.
How is Berkshire Hathaway producing an income stream? What does BH produce of value? Hell….what does BH produce period?
Buffett is correct in his call for fiscal responsibility. Hopefully we can now finally address our $2T annual deficits. If we don’t there won’t be much of a country going forward
This is a beyond ignorant statement. Berkshire owns one of the largest utility companies in the US generating and transmitting energy and natural gas in ~40 states (BHE) They own one of the largest rail shipping companies in the US transporting industrial materials. They sell you car insurance (Geico) They own 100% of the operations of Brooks Running Shoes, Dairy Queen, Benjamin Moore Paint, Duracell, Fruit of the Loom, Lubrizol chemicals, Pilot J convenience stores and a number of other entities, additionally they own controlling or near controlling interests in a number of other large companies like Occidental Petroleum (now merged with Anadarko) and their reinvestment strategy funds capital investment in some of America’s most important growth drivers like Apple.
My bad. Didn’t realize BH was involved in the management of those companies . I know BH from my old days in accounting as primarily an investment company. See….that’s how you own a wrong statement.
I did find it interesting that Buffett warned US officials against overspending in his remarks about protecting the poor of this country. A mirror image of my remarks in this thread.
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