Warren Buffett Predicts Chaos If Bernanke Is Not Re-Confirmed

Warren Buffett Predicts Chaos If Bernanke Is Not Re-Confirmed

blogs.wsj.com

Is it time to sell?

Warren Buffett would seem to think so. Buffett said this week in an interview with CNBC that if Ben Bernanke wasn’t reconfirmed as Federal Reserve chief, “just tell me a day ahead of time so I can sell some stocks.”

Bloomberg News
Head Scratcher

Then today, several more Democrats voiced opposition to Bernanke’s nomination. A vote is expected next week.

Here was Buffett’s take on the matter:

CNBC:….Should he be confirmed?

Buffett: If I could vote twice I would. He should be. He did a magnificent job over this period… We can’t sit here and a

(visit the link for the full news article)


Related News Links:
blogs.wsj.com
finance.yahoo.com finance.yahoo.com

Freudian slip or what?

“just tell me a day ahead of time so I can sell some stocks.”

Is this how he got to be the "Wizard of Omaha"? I guess it wouldn't be hard if you're the ultimate insider trader. could be a simple attempt at a joke, but could just as easily reflect a reality of being accustomed to early tips.

Buffett: If I could vote twice I would.

Holy crap...where'd he get the first vote from? This is seriously scary, in that the top corporatist in the world casually mentions having a vote in who gets picked to run the Fed. This really isn't the way the country was meant to be run, was it?

blogs.wsj.com
(visit the link for the full news article)

reply to post by apacheman


Very good insight. Your average person wouldn't pick up on those slips of the tongue. Warren Buffet is as corrupt as any other WallStreet hack money junkie.

So would the chaos be any worse than the "jobless recovery" (trillions in TARP funds used as a kickstand for the markets) that we have now?

I mean, I would like to go out and purchase a new modest priced car to replace my 1991 Ranger, but I am uncertain to income stability over the period of the loan. I could easily be laid off or have income shortfalls to keep everyone working if only as part-time employees. Both of which have happened in the last 45 days and may be for quite an extended period.

It is hard to have consumer confidence when 20% of the workforce is now underemployed and 10% are collecting unemployment. But even if that confidence is there, the banks are not lending except very stringently.

I would be far more confident after a 6 to 9 month readjustment if DC would say the Federal Reserve is done, the Federal Reserve Note is done and any American company that does not start hiring in the US is done.

That first year would be tough. There would be panics and lots of FUD. But in the end, the US economy would come out far stronger and more stable than when we went in to 2008.

I don't know having seen Buffett interviewed a few times, he is kind of a jokey person. This does sound like his sense of humor. So that doesn't bother me.

What does bother me is his support of Bernanke. Why the hell would anyone support that guy who was the front man for the greatest heist in history. How can Buffett be in favor of such a piece of garbage? Buffett's stock just dropped in my eyes.

We dont get to hear what is really going on with the FED RES, did you know Paulson was taken under arrest to bermuda (british colony) by MI6 and has been tagged and put under surveilance.

Paulson under arrest


If you want a better understanding of what is going on with the federal reserve this site and a good look through the articles is a must.
There was mention that bernanke had one or two sleepless nights recently.

world reports archive


[edit on 24-1-2010 by The X]

reply to post by CuriousSkeptic


He probably wants Bernanke because Bernanke knows where the financial bodies are buried and needs to rebury them before anyone outside the group can expose them.

I really wonder what metrics they are measuring Bernanke's performance by, because from where I sit the man is a continuing disaster.

To me, it sounds like Buffett is saying:

"That's my boy and if you don't do as I say, I will gut the market."

Is that even legal??

Does anybody care about the little people? The ones that keep the first line services in this country (US) going?

Buffett: If I could vote twice I would.

Yup. And if Ron Paul has any say so, he would vote NO twice. I always get a kick out of watching Ron Paul rip Bernanke to shreds.

Is it safe to assume that Buffet has a vote in the matter? I guess so.

Must be a board member, no?

Well we have to remember Buffet took a real beating in the market 08-09. He’s realizes this market is a house of cards built by bogus investments financed by you and me. Most investor that are in the market are there to try and recover there losses from the beginning of 2009 when TSHTF.
Buffet is no exception. He knows every one in the market right now is scared and has one foot at the door to the exit. The problem is that they all can’t fit through the door at the same time and the slow to react are going to get flattened. (The comment let me know a day ahead of time)
I personally don’t feel the Bernanke nomination matters. There are plenty of thins that will kill this economy lurking in the shadows already.
1 Either from the employment report for January,
2. Obama’s speech on Wednesday
3. china slowing its own economic stimulus
4. the next wave of housing defaults that will start in June
5. The collapsing dollar that will only get worse after the next housing defaults
You get the idea. If Bernanke doesn’t start it there are plenty more things that will and buffet knows it.

Mr. Buffet is concerned about the economy? Who's economy, his or ours? That man is as overrated as the rest of the so called maestros of economics. Apparently, he hasn't been reading the employment data in this country for the past couple years, because at the rate it is going he is going to have to sell, because his so called stocks will be worthless.

He should be concerned that people are getting the axe in droves and that should be why he should be concerned about the economy, not Ben Bernanke's job security. That is only what I think. This talk of the economy coming asunder, because of Ben Bernanke being sent home as many are, is ludicrous and fanning the flames of more fear mongering.

Fear mongering has been quite a useful tool by those that wish to continue their monopolies on power and influence. Maybe, the Federal Reserve could use a new face, because I am sorry Ben is not cutting the mustard in this depression. If you ask me, the economy is being held together with rubber bands and bubble gum. Maybe, it is time for them to accept the inevitable and let the whole thing fail? Let the chips fall where they may, and allow a real recovery to ascend out of the ashes. . .

reply to post by apacheman

Warren Buffett Predicts Chaos If Bernanke Is Not Re-Confirmed

This is from the same Warren Buffett that essentially said that would happen if Obama didn't get elected. He is beginning to sound like the 5 year old that threatens his parents if he/she doesn't get their way.
Mommy, confirm Bernanke or else the world will end.
It also reminds me of Oral Roberts who said that if people didn't give him a million dollars, God would kill him.
Maybe this approach might work with the IRS. Anyone willing to try?

How come Warren Buffett the economic terrorist isn't in jail? Not to mention that piece of garbage Volker, Bernanke and Greenspan are all economic terrorists too and should all be in jail.

The FED, which is PRIVATE, (BTW, in Canada, we learn that as a fact at university, only in america they lie about it), should be abolished.

reply to post by apacheman



By god we are being attacked by neocon justices for the corporation and a THE progressive corporate guru for the corporation, we should just offer up our bodily fluids,
money, individuality and time then maybe they will be happy

reply to post by Vitchilo


Actually here in the U.S. we're told that it's a "decentralized central bank". It's ran by private banks that are "independent" from the central government.

Anyhow, I don't think that this was a joke. I think Warren Buffet really means it. He likes Ben Bernanke because he's been doing exactly what the power elite wants. His goal is to help corporations. That's the fed's job.

Of course he wants for Ben Bernanke to stay. He's done such a great job for the wealthy elite. But, having a new chairman is only a false solution. Ending the federal reserve is the real solution. Most of these politicians don't know that.

Barbar Boxer's office said she's opposing Bernanke's re-appointment, which I take as code for "my price hasn't been met yet". Her office also said there's absolutely nothing to be done about the Roberts Decision, so it's probably pretty much a moot point.

Just a minute ago on CNBC a banker was claiming that thinking banks are "too big to fail" is wrong-headed thinking...he thinks it's backwards as he sees them as "too small to succeed" so any attempt to make them smaller or break them up would ruin the economy, as would failing to re-appoint Bernanke.

Sounds like a mafia threat to me.

reply to post by apacheman


Ya, I was just watching the same thing. Did you notice the DOW drop to 23.88 as he was finishing his interview? He is right the market will collapse if they implement the bank restrictions they are implying.
If you have seen any of my posts on here you would know I’m no Obama fan, but in this case I think he may be right, but it will collapse the economy doing it.

I hate to say it but I think the only way we can tern this around is to go back to the banking practices before all this social engineering crap was shackled to the banks. I just don’t see how it can happen without a crash.
Time will tell.

Let the markets crash. Let the banks fail.

And when everything goes through the fan, let's just see who is standing high and tall with all the money.

They better have one heck of an explanation. Because if they don't or if they even think about pleading the 5th...........................,

release the mob.

I've read some of the comments congress members have made about Bernanke lately. To be honest, I think it just members of congress trying to save their skin by pinning the blame on him.

If I were a fly on the wall in the halls of congress I think I'd have heard a conversation very much like...

Congressman1 : "Wow - the people are ANGRY!! If we don't do something they are going to vote us out of office!!"

Congressman2 : "I know, I know - let me think... I've got it!!!"

Congressman1 : "What?!"

Congressman2 : "Well pin everything on Bernanke, toss him under the bus and fire him. He'll take the heat and we'll look like heroes!"

Congressman1 : "Brilliant!! Simply Brilliant!! Its almost lunch time, let me buy you a martini to celebrate!"