What Warren Buffett said.......

[FrenchieCat]

I watched Warren Buffett this morning on CNBC. Although the Corporate media headlines quote him as saying we are "going over a cliff", what they are neglecting to explain to us is that he stressed that the public is being confused by the messages sent by partisan congress (he named the Republicans as needing to allow the majority in doing their job), and the media (muddled messages)....and that what we need is unity behind the President, as we are fighting an economic war, and like a conventional war, a crisis in confidence can only be generated by those second guessing every move the President makes (he referred to WWII as an example, if 500 people would have questioned when and how to land on Normandy, would that have helped?)....and that we need to allow President Obama to be the CIC on this economic war.

Buffett went on to say that things could have gotten a whole lot worse than they are.

He stated that confidence is a big part of possible success, and that there has been little done by the media or anyone else to instill confidence, and therefore the cycle continues on a downward spin.

Guess the corporate media didn't like that part of the message, because they are not repeating it much.

[firedupdem]

1. Thanks Frenchie. I'm not watching too much television today and

I would have heard that little snip and wondered what was going on. Thanks again for more of the real message he sent.

[FrenchieCat]

3. I think that he was warning CNBC of being so partisan,

and letting them know how dangerous their political game has been.
That's what I read between the lines.

I could tell that this is not what the CNBC commentators wanted to hear.

He repeatly compared the current crisis to a war.....and was urging unity
to defuse a crisis in confidence.

The part about the minority ceding to the majority in case of crisis hasn't been mentioned by
any of the talking heads as of yet.

[firedupdem]

5. Very good!

They are directly affecting the markets. Tweety has that loud mouthed son of an ass on yelling about what Obama isn't doing and it makes me sick. It took Jon Stewart to eat their asses alive last week. I'm so sick of it. They are attacking this administration 24/7 during a time of unprecedented disaster in this country.

[The Wielding Truth]

6. THanks for the real story. I have been watching MSNBC and that's

not the story they have been telling.

[Wapsie B]

2. Amazing how the word recession was barely uttered during *'s time in office.

But now that Obama is in there we're heading to hell in a handbasket.

[FrenchieCat]

4. There is no way that Obama can right this ship with all sides

nipping at his heels.

We have to ask ourselves what is it we want....to right the ship, or to simply be right.

[jenmito]

7. Erin Burnett quoted the positive parts on MJ, pointing out that he actually said positive things...

that it WILL get better, etc., and that was the last time I heard about ANY of that.

[FrenchieCat]

8. Perhaps she got the message!

[jenmito]

14. It was the only time she was on MSNBC. She'd probably say the same thing if she was given the

chance.

[amandabeech]

30. Erin Burnett is a regular on Morning Joe.

She does not appear often later in the day. I assume that she is preparing for her regular slot on CNBC or going home so that she can get up a whatever godawful hour she does to fit her on and off air schedule.

[Jane Austin]

42. What's MJ?

Thanks.

[jenmito]

43. Morning Joe.

:)

[Jane Austin]

45. Oh, of course.

Thanks.

[jenmito]

47. No problemo.

:hi:

[Captain Hilts]

9. And this is what Bill Clinton was also saying. Be realistic, but express confidence. nt

[Ian David]

10. Call and explain this to Nancy Skinner. n/t

[indepat]

11. Sounds like Warren is wholly dissing everything 'pukes do and what these 'puke talking-heads on CNBC

spew every day. Warren also knows that the wealthy have not paid their fair share of taxes for more than a quarter of a century, that this and other irresponsible fiscal and monetary policies, perpetual wars, and a laissez-faire approach to governance, and yes, nonfeasance when it comes to keeping an eye on Wall Street, are what has brought us to where we are today, including an almost 50% loss in BRKA shares. Warren is smart enough and honest enough to realize all this: if only the Ranger Smiths' of the world would take heed, but sadly most of them are so blinded by the right, so eaten up with their neocon PNAC ideology, that that is not in the cards. :P

[joeglow3]

12. Local commercial I heard.

One of the local investment firms has been running commercials here comparing today’s stats to 1982. It said unemployment now is 8% and it was 10.2% then. Inflation is zero now and was something like 15% then. Treasury rate is 3% today and was 21% then. While it is obvious they are trying to underscore the problem for business purposes, they did bring up a good point: how much of this is driven by sentiment that is driven by being bombarded with the 24/7 news cycle that did not exist back then?

NOTE: this numbers are not exact. I am going off of memory here.

[ayeshahaqqiqa]

13. Thanks for this

I don't watch TV and all I saw was a yahoo headline that said something about Buffet saying things would get worse "under Obama", or something like that--implying that this mess is Obama's fault! Glad to see your report, which clarifies things.

[FrenchieCat]

15. But what is unfortunate is that the media got it wrong....

most likely on purpose.

[ayeshahaqqiqa]

17. Which is why I trust Frenchie Cat's reporting

far more than I do the MSM.

[FrenchieCat]

28. Thanks!

:hi:

[Raine1967]

16. Thank you so much.

As always, you give a clear understanding of what is REALLY going on.

[Cha]

18. Thank you, FC..I hate

the corporatemediawhores and right now it seems like it will take another miracle(as in when Obama was elected) to get our Economy going in the right direction with all hyenas in corporatemediawhoredom screeching their bias against he who would raise their taxes to where Clinton had them.

bush policies didn't work..they had 8 years and FUBARED.

[FrenchieCat]

19. But who will be the ones that hammer that message to the public

apart from the Obama administration?

There are plenty that could have, but found it beneath them to harp on such matters
for too long.

[Cha]

21. You mean like

Senators and Congresspeople? You know a lot more of what's going than I do.

[ogneopasno]

20. He also came out against the EFCA.

[FrenchieCat]

22. Well that is no surprise.

is it? He is a total capitalist.

Weird how the negative things he had to say are getting repeated airing,
and what he said that made sense in terms of the markets beyond, we are falling of a cliff,
are muted.

[ogneopasno]

23. Oh, I just keep throwing that out there because so many on here think he's the shizzle for "giving

all his money away!11!!11" and being the nicest, bestest, cuddliest capitalist evah. I'm not saying you do that. I'm just throwing it out there. I mean, the man bought up U.S. factories and then, when they weren't doing what he wanted, shut them down rather than selling them off. As a capitalist, he is going to say things that pay off for him, no matter who repeats or clarifies it.

[FrenchieCat]

24. No one is all good or all bad......

that goes for Obama, Krugman, Buffett or others.

Some or worse then they are good.
Others are worse than better.

In the end, Obama has staked his presidency on righting this economy,
and that is why I'm willing to give him the edge over everyone else.

[girl gone mad]

25. I have to respectfully disagree with Mr. Buffet.

Right now, our transmission needs an overhaul, and a shiny new paint job isn't going to get the car running again.

[FrenchieCat]

26. Good luck with an overhall in the climate that has been created and shaped

by corporate tools, and well meaning theorists.

[kimmerspixelated]

27. Touche' FC! But really

I think that the media loves to suck up whatever tragedy there is, no matter what it is, unfortunately, and in the beginning of all this, their reporting, in my opinion caused the house of cards to tumble at least 20 % more than it would have without their terra,terra, reporting!
When all you hear is bad news, it gets in your head subconsciously, and like a robot, you won't spend anything at all, if you don't have to, hence the economy tanked worse than normal.

[Festusss]

29. Thanks for posting this...

You've done a great job of apposing the nay sayers and it's greatly appreciated.

[Uncle Joe]

31. Maybe if Warren Buffet bought FOX "News" and hosed it down

with a bleach/urine combination disinfectant/poetic justice cleaner, he could get his message out.

[annabanana]

32. Leave it to Corpomedia to misrepresent and de-contextualize

his whole statement. Buffett should buy himself some airtime to keep his words from being twisted like that.

[FrenchieCat]

33. At least KO is discussing Buffett's message accurately!

That's a relief!

Heard that even Nancy Skinner had no clue on her radio show today.

[Top Cat]

34. kick

[DCBob]

35. Just now watching the replay and he was clearly supporting President Obama..

His only criticism was that Prez O needs to come out more clear on the plan to fix the problems especially as realted to the banking system.

[FrenchieCat]

36. Yep.

He was telling CNBC et al to stop nitpicking and arguing with this President, and they heard nothing.

[DCBob]

38. Also he made it very clear the President decides on a plan we all need to get behind him...

much like going to war. Criticisms from the peanut gallery are not helpful.

[GeorgeGist]

37. FYI : Warren Buffet is one of the greediest men in the world.

It's no surprise that he's a confidence man.

[DCBob]

40. Buffet has given away more than 80% of his wealth mostly to the Gates foundation.

That does not sound greedy to me.

[TwilightZone]

41. What are you talking about?

He's committed nearly 100% of his estate to charity when he dies, and he's donated billions to the Gates Foundation and other charities already.

Might want to do a little research.

[blaze]

39. Emailed Chris Matthews

With a link to this thread and FrenchieCat's OP quoted in full.

With my own question: What part are you playing Chris? Do you have the ovaries to actually tell the whole story?

[e-mail]

[FrenchieCat]

44. Thanks.

Chris needs to get a clue.

Lying and distorting during a nationwide crisis
is not something that true patriots should engage in.

[uponit7771]

46. Heard that part but FauxNBC kept giving him assinine questions about Obama vs. financials.

[MarjorieG]

48. Media saying admin's muddled mesage, no mention of unity in time of war, GOP partisan, unpatriotic.

[FrenchieCat]

49. Of course they are not going to report what they should......

They agenda is different from that of the American People.

That's why the media is dangerous.