US billionaire Buffett backs Obama for president

[Hope And Change]

US billionaire Buffett backs Obama for president


2 hours, 26 minutes ago

FRANKFURT (AFP) - Warren Buffett, the world's richest man, is backing Barak Obama for US president and thinks current US economic policy will push the dollar lower against other global currencies.

Buffett told a press conference here Monday he had offered support to both Obama and Democratic rival Hillary Clinton but that since it appeared Obama would win the party's nomination, "I will be very happy if he is elected president.

"He is my choice," Buffett said.

Commenting on the US economy, the 77-year-old investor who is known as the "Sage of Omaha," stressed that fiscal, monetary and trade policies were of great importance.

"I think that the US has followed and is following policies which will cause the US dollar to weaken over a long period of time," he said.

After voicing support for Obama, Buffett nonetheless noted the US economy had managed to do "awfully well" despite a depression, two world wars and many financial crises.

"They say in the stock market ... buy stock in a business that's so good that an idiot can run it because sooner or later one will," he added.

"Well, the United States is a little like that. We can take a little mis-management from time to time," Buffett said.

http://news.yahoo.com/s/afp/20080519/ts_alt_afp/germanyusinvestpoliticsbuffett_080519163709;_ylt=AoMZ0By0QIhdx_88YO8En7Fh24cA">Read the entire article here

[Hope And Change]

1. Don`t we have any elitist supporters here????

:sarcasm:

[Cha]

3. Sorry Warren, we have enough

elistist supporters what with all our latteters and bicyclists going for Obama. You're just hurting our chances:) :sarcasm: :sarcasm:

YAY, WARREN BUFFET FOR OBAMA! :patriot: :bounce: :kick: :party:

[sasquatch]

2. Warren seems to be a guy that's bright enough to see beyond his needs

[Barack_America]

4. Hey Warren, thanks for the endorsement. Interested in a cabinet position?

We'd love to have you.

What a signal regarding public service that would send!

[RoadRage]

5. As a fellow "Omahan", I was happy to see this!

Buffett has actually been supporting both Obama & Clinton for the past year- he hosted fundraisers for both of them in Omaha last fall, and has donated the max to both campaigns.

It's nice to see him come out for Obama and solidify the party. Any guy who says "Tax me more - I make too much, and get far to many tax breaks" is a pretty stand up guy. :)

[anigbrowl]

6. Great. I'm a big fan of Warren Buffett

A wise and ethical man, who has shown repeatedly that nice guys finish first. Incidentally, he has also made arrangements to give away most (85%) of his wealth by donating it to Bill Gates' foundation.