Warren Buffett: Not Raising The Debt Ceiling Would Be "Most Asinine"

Discussion in 'Politics' started by Synthaholic, May 18, 2011.

  1. Synthaholic
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    Synthaholic Platinum Member

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    Warren Buffett: Not Raising The Debt Ceiling Would Be "Most Asinine"


    Read more: Warren Buffett: Not Raising The Debt Ceiling Would Be "Most Asinine"


    Warren Buffett says that if Congress doesn't vote to raise the debt ceiling before it expires in mid-May, it would be their "most asinine act" ever. Tim Geithner, Treasury Secretary, explained the importance of raising the debt ceiling last weekend when he said on Meet the Press,


    The debt limit will be raised because "if you allow people to start to doubt whether the U.S. can pay its obligations - that would be catastrophic."



     
  2. Old Rocks
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    Old Rocks Diamond Member

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    But what would Warren Buffet know about investing and money?
     
  3. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    No. The fact that we've gone past the Debt Ceiling is most asinine.

    Clearly, the debt ceiling is meaningless. Continuing to spend like this is insane.

    But why on earth should that bother anyone?
     
  4. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    And what does the Debt Ceiling have to do with investing?
     
  5. auditor0007
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    auditor0007 Gold Member

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    Warren Buffet is an idiot. He thinks we need to raise taxes.
     
  6. Political Junky
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    Political Junky Gold Member

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    We should all be as much of an idiot as Warren Buffet.
     
  7. Synthaholic
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    Synthaholic Platinum Member

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    Like WHAT??? List it! What are we spending on today that we weren't spending on before Obama took office?
     
  8. Synthaholic
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    Synthaholic Platinum Member

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    It's this kind of dumbass thinking that got us into this mess.

    What was the number one thing that took us from a manageable debt to an exploding debt?

    Bush's unpaid for Medicare Part D? Nope!

    Bush's two wars on the credit card? Nope!

    Bush's tax cuts for the mega-rich? YUP!!!
     
  9. editec
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    editec Mr. Forgot-it-All

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    Well, I'll tell you one thing....

    If that debt ceiling is NOT raised, the nation we once knew is going to go through some changes mighty damned quick.

    Basically, failing to give the FEDs that right is a revolutionary act.

    And while I have no doubt that many Americans might think that we need a revolution, I seriously doubt most of them are going to be entirely happy with the things that will start happening within 30 days of that failure.

    I don't know what they government plans to do next, but not putting money into the FEDERAL GOVERNMENT PENSION plans isn't going to keep this government afloat very long.

    Things could unravel at a speed I think few of us expect.

    I know I'm not remotely prepared for what follows.

    Are YOU?

    If so tell me how prepared you are for the collapse of society.

    Tell me quick because we might not be able to discuss issues like these on the internet much longer, folks.

    Yeah I'm telling you, the changes we can expect are going to happen mighty damned fast.




    That's a political game they've been playing for some time, actually.

    But it appears they're reaching the endgame of their political chessmatch

     
    Last edited: May 19, 2011
  10. waltky
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    waltky Wise ol' monkey Supporting Member

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    Defaulting on the debt would plunge the whole world into a depression...
    :confused:
    JP Morgan Chase CEO warns of US defaulting
    Friday, May 20, 2011 - It would be a "moral disaster" if the United States were to default on its debts and become unable to pay its obligations, JPMorgan Chase & Co. CEO Jamie Dimon said at an appearance in Colorado Thursday evening.
     
    Last edited: May 20, 2011

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