[ExI] Warren Buffett is worried too and thinks Republicans are "asinine"

John Clark johnkclark at gmail.com
Thu Oct 17 18:06:50 UTC 2013

On Wed, Oct 16, 2013 at 1:40 PM, spike <spike66 at att.net> wrote:

 >>  the Tea Party is the problem here
> ** **
> > So what happens if we elect a bunch more of them next fall?

I think that is unlikely. For one thing there is a limited supply of people
that dumb, for another they're going to find it increasingly difficult to
raise money. Traditionally the Republican party has been the party of
business but not  anymore, the tea party big money backers have found that
they can no longer control the loonies they created. Despite the antics of
the last 16 days  the Republicans achieved NONE of their goals,  zero nada
goose egg, but they did cost the economy 24 billion dollars in direct costs
and probably ten times that in indirect costs. And the meter is still
running, we'll be paying for this for years to come in the form of interest
rates that will be higher than they otherwise would have been, in effect
the party that thinks taxes are too high has just imposed a new  tax on us.
And the Republicans came within 90 minutes of costing the economy many many
TRILLIONS of dollars, and they want to play the same moronic game of
chicken in just 3 months. Billionaires, regardless of how conservative, are
going to think long and hard before they start writing big checks to
dimwits like that again.

>>  >> The dollar is the international reserve currency…
> ** **
> > Why is that?

The reason is irrelevant, to deny the fact is to deny reality, and if you
fuck with the international reserve currency welcome to 1929.

 >> Those financial instruments are paying very low interest rates right
>> now; below the rate of inflation even…
> > Why do people keep investing in something in which the risk is rising
> and the payoff is falling?

Because like it or not the international perception is that US savings
bonds are the safest investment in the world, or at least that was the
perception 16 days ago, not so sure now.

 > Why do people keep investing in something in which the risk is rising
> and the payoff is falling?

Gee, and I can't imagine why the risk is rising.

  John K Clark
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