US billionaire Buffett backs Obama for president

[nhboy (Premo)]

" FRANKFURT (AFP) - Warren Buffett, the world's richest man, is backing Barak Obama for US president and thinks current US economic policy will push the dollar lower against other global currencies
ADVERTISEMENT

Buffett told a press conference here Monday he had offered support to both Obama and Democratic rival Hillary Clinton but that since it appeared Obama would win the party's nomination, "I will be very happy if he is elected president.

"He is my choice," Buffett said.

Commenting on the US economy, the 77-year-old investor who is known as the "Sage of Omaha," stressed that fiscal, monetary and trade policies were of great importance.

"I think that the US has followed and is following policies which will cause the US dollar to weaken over a long period of time," he said.

After voicing support for Obama, Buffett nonetheless noted the US economy had managed to do "awfully well" despite a depression, two world wars and many financial crises.

"They say in the stock market ... buy stock in a business that's so good that an idiot can run it because sooner or later one will," he added.

"Well, the United States is a little like that. We can take a little mis-management from time to time," Buffett said."

US billionaire Buffett backs Obama for president - Yahoo! News

[vraiblonde]

I'm sure that's a misprint. Everyone knows that only Republicans are rich white guys. Democrats are the party of the working man and minorities.

[ImnoMensa]

[After voicing support for Obama, Buffett nonetheless noted the US economy had managed to do "awfully well" despite a depression, two world wars and many financial crises.

"They say in the stock market ... buy stock in a business that's so good that an idiot can run it because sooner or later one will," he added.

"Well, the United States is a little like that. We can take a little mis-management from time to time," Buffett said."}
________________________________________________________________

What Buffet is saying here is that he realises Obama is an idiot,and will mismanage the country,but with luck we may survive.

Great endorsement dipsheit.

[The Oyster Guy]

Warren Buffett ... thinks current US economic policy will push the dollar lower against other global currencies.

Youch. Looks like no relief for gas prices anytime soon. Right now, the spike in petroleum isn't so much about demand exceeding supply - it's world investors preferring the safety of oil futures in the face of a dollar that continues to shrink. It wouldn't suprise me to see $5/gal gasoline sometime this year.