Buffett warns U.S. trade deficit could cause 'political turmoil'

[ckramer]

The U.S. trade deficit soared to a record $665.9 billion in 2004, and Buffett said he expects it to top $700 billion this year.

“That’s $2 billion a day. We are like a super rich family that owns a farm the size of Texas. You sell off a little bit of the farm and you don’t see it,” he said.

Fifteen years ago, the U.S. had no trade deficit with China, he said.

“Now it’s $200 billion. If we don’t change the course, the rest of the world could own $15 trillion of us. That’s pretty substantial. That’s equal to the value of all American stock,” Buffett said.

“That’s the big danger. Our national debt does not bother me. Our public debt is not at a crazy level,” he said.

link

[roguevalley]

1. Well, the only good part is they can't pick it up and cart it off.

[tatertop]

3. That dog person is damn cool

(But can he meow? :)

[roguevalley]

10. he hugs your neck and he falls on his back and wiggles all over.

I love him, I surely do. :)

[tatertop]

12. That is one damn nice cat

[...of J.Temperance]

6. Hey I'm glad that Tippy is back :) That cutie hasn't been on for a while

:)

[roguevalley]

9. he's my baby. he has a twin, Andrew. I'm twice blessed. :)

[neoblues]

2. Well, DUH...

[OrangeCountyDemocrat]

4. What's Up With His Debt Comments?

"Our national debt does not bother me. Our public debt is not at a crazy level,” he said.

This makes no sense to me.

[hang a left]

8. Me either

[ewoden]

5. that's the trouble with selling off debt to the Chinese

an hour or a few billion later you're ready to do it all again.

[catnhatnh]

7. And if we're talking Jimmy Buffet, and not a neocon tool...

that was strangely in Nebraska to welcome Bush the morning he ran in panic after reading "My Pet Goat", than I might tend to listen to advice-After all-it IS five o' clock SOMEWHERE....

[justice1]

11. It wasn't strange

Buffett lives in Omaha.

[NMDemDist2]

13. welcome to DU justice1

:hi:

[justice1]

14. Thank-you for your warm welcome

I have been lurking for a little while, and I thought it would be a good time to contribute my two cents.

There are a few websites out there that make an issue of the fact, that Buffett had scheduled a golf tournament at Offutt AFB, on 9/11, which included some people that worked in the WTC.

From that, some people concluded that Bush and Buffett were behind 9/11.

As a local, I have to say it's common for civilians to use the base facilities.

The tournament was an annual event, that raised millions of dollars for charities.

As much as I despise Bush, and would accuse him of a lot of things, flying planes into the WTC isn't one of them.It was eerie that day, I was home alone and all planes were grounded. As I was watching the news, I heard a plane. I ran outside and couldn't see anything, but I could hear it. I ran back in the house and grabbed my camera, and within a few
minutes the local news announced it was Air Force 1.

After he emerged from his meeting, I went back outside to try and take photos, again I could hear it, but it raised in altitude so fast I couldn't see it.By that time, my kids were home from school, and we listened as it zig-zagged in the air, for about a 45 minutes, before finally heading back to Washington.

[NMDemDist2]

15. glad you did. the LIHOP/MIHOP crowd is alive and well here

but don't let that deter you, those threads get sent to a special forum

also, you may find this thread helpful, it gives you some of the slang we use around here.....

http://www.democraticunderground.com/discuss/duboard.php?az=view_oet&address=358x190