Author: gotohell

USA 2008: The Great Depression [Copy link] 中文

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Post time 2008-5-24 07:50:33 |Display all floors

Too Low!

Tongluren: That's too low! If China wants to lose all its customers to other low-cost producers, it should impose a higher export duty much faster! Then, it can destroy its own economy more quickly and effectively! Mexico will be overjoyed! In all seriousness, you believe that all quality issues can be resolved in 12 months, and China will become a high quality/cost competitor while at the same time trying to damage its major market? Hmm. You are obviously trained in economics, so I would suggest that you give that a bit more thought.

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Post time 2008-5-25 18:02:50 |Display all floors
Buffett sees 'long, deep' US recession
Updated: 2008-05-25 08:35

BERLIN -- The United States is already in a recession and it will be longer as well as deeper than many people expect, US investor Warren Buffett said in an interview published in German magazine Der Spiegel on Saturday.

He said the United States was "already in recession" and added: "Perhaps not in the sense that economists would define it" with two consecutive quarters of negative growth.

"But the people are already feeling the effects," said Buffett, the world's richest man. "It will be deeper and last longer than many think."

But he said that won't stop him from investing in selected companies and said he remained interested in well-managed German family-owned companies.

"If the world were falling apart I'd still invest in companies," he said.

Buffett also renewed his criticism of derivatives trading.

"It's not right that hundreds of thousands of jobs are being eliminated, that entire industrial sectors in the real economy are being wiped out by financial bets even though the sectors are actually in good health."

Buffett complained about the lack of effective controls.

"That's the problem," he said. "You can't steer it, you can't regulate it anymore. You can't get the genie back in the bottle."

Investor Warren Buffett listens to a question during a news conference in Madrid May 21, 2008. [Agencies]

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Post time 2008-5-25 19:05:19 |Display all floors

Reply #21 buddy35's post

10 percent?  I think the true figure is 13 percent, at least in the major states.

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Post time 2008-5-25 20:17:55 |Display all floors

Never order a coffin

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Post time 2008-5-26 05:36:59 |Display all floors
Buffet is foolish, apparently, as the economy has already shown signs of improvement and so the Great Moderation continues.
"Justice prevails... evil justice."

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Post time 2008-5-26 08:01:44 |Display all floors

The dino says...

Originally posted by interesting at 2008-5-26 05:36
Buffet is foolish, apparently, as the economy has already shown signs of improvement and so the Great Moderation continues.

If you had better manners and more intelligence, perhaps he could have given you a job with better holidays than the C.I.A. provides.
On the other hand, he prefers to be on good terms with Russia and China- bad luck.

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Post time 2008-5-27 06:42:04 |Display all floors
"Some of the leading economists of the United States have said the realistic number is around 20% unemployment!"

hahah yea okay, cite that source

jack those exports tariffs up, cost the jobs of millions of chinese

over 30% of china's exports go to the US, and 70% of the US economy is based on consumption....if we go down, we're taking you with us

it simply doesnt make sense to hope for the US to go into depression as many of you seem to be doing, it is in both countries best interest to aspire for the other to have healthy economies so that both our populations enjoy the fruits of economic growth

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