Buffett Issues Warning Over Trade Deficit

[southernleftylady]

RENO, Nev. - The U.S. trade deficit is a bigger threat to the domestic economy than either the federal budget deficit or consumer debt and could lead to "political turmoil," billionaire investor Warren Buffett warned.
"Right now, the rest of the world owns $3 trillion more of us than we own of them," Buffett told business students and faculty Tuesday at the University of Nevada, Reno. "In my view, it will create political turmoil at some point. ... Pretty soon, I think there will be a big adjustment," he said without elaborating.

Buffett, head of Omaha, Neb.-based Berkshire Hathaway Inc., was in Reno for the opening of the company's R.C. Willey Home Furnishings store.
http://news.yahoo.com/s/ap/20060118/ap_on_bi_ge/warren_buffett

[thefloyd]

1. Buffet is just a socialist

he has no clue :sarcasm:

[JNelson6563]

2. "...I think there will be a big adjustment," he said

"Big adjustment" is one way to put it. Personally I prefer "a reckoning" but to each their own. No matter the terminology, I agree with his assessment. We have gotten ourselves into a vulnerable position.

Julie

[VegasWolf]

10. Will Rodgers uses the words, "Spectacular and Horrifying." nt

[modrepub]

12. Maybe

I don't think this is good either, but I'm not sure any of our "trading partners" can operate without our trade "surplus" either.

[Demeter]

3. Yeah, Maybe The Foreigners Will Put BushCo Out of Business!

Seeing as the natives are in a stupor over being screwed by the Emperor and his lackeys...

[HereSince1628]

4. He's not the only one thinking pretty soon, look at gold prices

Last week foreign governments were shifting their focus from dollars and into gold. Merrill Lynch recently launched a new gold fund.

[stepnw1f]

5. Hey Buffet? Want to Commision Me for a Painting?

Damn!...

[Village Idiot]

6. THIS hits LBN? How many days since the deficits were declared:

"UNSUSTAINABLE" by Greenspan?

"...In other breaking news, Rain is wet, sand is dry, snow is cold and Bush is an asshole."

[Canuckistanian]

7. Buffet speak. Shrub listen.

Hahaha, not bloody likely. All is going according to plan at Bushco.

[Ian David]

9. Bush says he's a big fan of Buffet's music. n/t

[VegasWolf]

11. He particularly likes Lunch Buffet too. nt

[Canuckistanian]

16. I'm sure he's wasted a few hours in Margaritaville n/t

[Ian David]

8. Learn to speak Chinese!

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[AX10]

13. kick

recomened.

[MrPrax]

14. Bush doesn't care...

about US debt? They are ramping up for a world war in which any foreign debt will be discharged, ignored, declared illegal, bribed, stolen or simply re-jigged by contractors like North Star Consultants.

[KamaAina]

15. "I don't know where I'm a-gonna go when the deficit blow..."

Oh, Warren Buffett. That makes a little more sense. I thought I'd gone straight off the twist for a moment there... :-)

edit: punctuation

[underpants]

17. You some people say there might be some questions about that guy

Stay tuned for more...in other news what DID happen on that cruise ship?