Monday, Mar 09, 2009
Buffett's talks.
Timesonline: Buffett: crisis is an economic Pearl Harbor
Warren Buffett, the billionaire US investor, today described the America's battle with recession as an "economic Pearl Harbor."
Mr Buffett said the meltdown, which has seen US unemployment hit a 25-year high, was an "important war which could be won."
Japanese planes attacked the US Naval base at Pearl Harbor, Hawaii, on December 7,1941 in a surprise strike which drew the country into World War II.
The US put aside "partisan stuff" then and should do so again, Mr Buffett said. "We knew if we stuck together and followed leadership we would prevail," he added.
Posted by flintster1994 @ 06:16 PM (924 views) Add Comment
17 Comments
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1. japanese uncle said...
It is an appropriate analogy in that both this 21st century version of the Great Depression and Pearl Narbour were both fully engineered by the same greatest beneficiaries.
2. plato said...
Now I like that JU @ 1..... Perhaps he made a Freudian slip in his old age.
3. Alan Lubin said...
JU. Spot on mate.
4. braindeed said...
Do you reallybelieve that JU? who would you say were the true "greatest beneficiaries."?
5. Alan Lubin said...
@braindeed. Well the Bush family didn't do that bad out of the build up to either of them.
6. plato said...
Buffett is sticking to his long term view of stocks. Question is whether he'll be able to take the pain while he's waiting? Although saying that he cares not about the short term.
At his age he's extremely optimistic about a future he may not even see.
http://www.guardian.co.uk/business/2009/mar/09/warrenbuffett-dowjones
7. crunchy said...
3. braindeed
The same crowd in almost every war.
I had a rubbish history teacher too. I had to double check everything untill it made sense.
Most things make sense when you discover the truth. Nothing further to report Sir!
8. flintster1994 said...
Crunchy
"The same crowd in almost every war. "
It's funny how we're not taught that at school.
Maybe funny is the wrong choice of word.
9. crunchy said...
6. flintster1994 said...It's funny how we're not taught that at school.
It's not funny. It just would not work and there's the rub!
10. japanese uncle said...
Crunch
You are right. History texbooks are utter rubbish.
Pearl Harbour was needed for Churchill (at the behest of UK financiers) to bring the US into WWII. All the admirals including famous Yamamoto and Yonai who planned Pearl Harbour attack spent a few years as post graduate student in Harvard University and as naval attache in Washington DC. One can easily imagine what sort of contact they developed during their stay in the US. Yonai (who eventually became Prime Minister in 1940, was personally responsible for the expansion of warfare in Shanghai and Nangkin. This aggression nicely provided pretext for the US to issue Hull note in November, 1941, just a month before the Pearl Harbour, which was widely regarded as the ultimatum claiming full withdrawal of all the Japanese forces from China and Indochina.
US's GDP was five times bigger than Japan's at that time. No sane minded man could have envisaged full-scale warfare with the US given this huge differential of economic power.
11. crunchy said...
8. japanese uncle...... Thanks!
crunchy-"The same crowd in almost every war. "
12. happy mondays said...
Sorry guys, cannot comprehend that war would be instigated for the benefit of a few!
13. crunchy said...
10. happy mondays
It is the safe few that instigate wars happy monday and the many thousands of men,women and children that suffer or die.
Untill people can comprehend this basic concept and the business benefits attached to wars, it looks like we will have more of the same.
I guess you missed the subtle irony in the title- Buffett: crisis is an economic Pearl Harbor.
14. happy mondays said...
Crunchy! I knew someone would bite, i did' nt expect you..I will not say watch the Zietgeist movie, because i think you would have..The world is bent on greed and power, and when the masses get resless, send them to war!
15. crunchy said...
12. happy mondays
I have not had breakfast yet.
16. happy mondays said...
No worries crunchy, make sure it's decaf coffee with brekky...Lol
17. crunchy said...
No worries happy mondays, make sure yours is not with wheata-bez!