Warren Buffett Makes Himself Available to President Obama
Investor extraordinaire Warren Buffet, with his estimated net worth of $62.0 billion, will be featured on Nightly Business Report tonight as part of the program’s 30th anniversary.
While American workers have their collective eye on President Obama, waiting to see how he'll restore the jobs they lost and secure the ones they have, Mr. Buffet might be able to offer a glimpse into the future. Here's a sample of what to expect from the interview tonight. Find your local PBS station.
SUSIE GHARIB, ANCHOR, NIGHTLY BUSINESS REPORT: Are we overly optimistic about what President Obama can do?
WARREN BUFFETT, CHAIRMAN, BERKSHIRE HATHAWAY: Well I think if you think that he can turn things around in a month or three months or six months and there’s going to be some magical transformation since he took office on the 20th that can’t happen and wouldn’t happen. So you don’t want to get into Superman-type expectations. On the other hand, I don’t think there’s anybody better than you could have had; have in the presidency than Barack Obama at this time. He understands economics. He’s a very smart guy. He’s a cool rational-type thinker. He will work with the right kind of people. So you’ve got the right person in the operating room, but it doesn’t mean the patient is going to leave the hospital tomorrow.
SG: Mr. Buffett, I know that you’re close to President Obama, what are you advising him?
WB: Well I’m not advising him really, but if I were I wouldn’t be able to talk about it. I am available any time. But he’s got all kinds of talent right back there with him in Washington. Plus he’s a talent himself so if I never contributed anything for him, fine.
SG: But I know that during the election that you were one of his economic advisors, what were you telling him?
WB: I was telling him business was going to be awful during the election period and that we were coming up in November to a terrible economic scene which would be even worse probably when he got inaugurated. So far I’ve been either lucky or right on that. But he’s got the right ideas. He believes in the same things I believe in. America’s best days are ahead and that we’ve got a great economic machine, its sputtering now. And he believes there could be a more equitable job done in distributing the rewards of this great machine. But he doesn’t need my advice on anything.
Andrew G. Rosen
Reader Comments (2)
My views on what ails the economy and what to do about it:
1) STOP waiting for others to come to your rescue. Do what you as an individual can do to stop the leaks in your own personal life. It is up to us as individuals to turn our OWN lives around first, and then-as enough people begin to stand on their own two feet-the nation will begin to recover.
2) As individuals, we must take a realist view of our own situations, resolve to "tighten our belts" and "bite the bullet" where necessary. We can as individuals do this in a number of steps/ways.
3) The ways are as follows:
a) Stop purchases with credit-cards that we are unable or unwilling to pay off immediately within 7 days from the date the charge was made. In other words, "If you haven't got it, don't spend it."
b) Some of us still have jobs. Use those jobs as a means to start SAVING for your own personal Wealth Building Account. This is absolutely necessary, if you are to survive. No matter how certain you are that you can not possibly afford to save out an untouchable 10%, do it ANYWAY, and let the chips fall where they may.
c) Down-scale your life-style in every way possible to you. The simplest way to do this is to drop costly unhealthy habits and institute healthy ones. For example: drop smoking, drinking, Latte's, jumping into your car to drive 4 blocks to the grocery store to buy one bag of groceries, eating fast-foods rather than fixing your own healthier lunch to take to work, etc. Substitute healthy eating habits such as apples, oranges, bananas, more water from the tap. (Bottled water may be healthier for you, but it costs a LOT more to purchase it than tap water which can be filtered fairly inexpensively.) Make it a personal crusade to cut "fat" expenditures out of your budget every place you can. Find a less expensive place to live. STOP watching the evening and morning news-who REALLY needs to know how many people were murdererd today, this morning, last night?
It is unhealthy emotionally, mentally and physically to take this in on a regular basis, and it causes fear, distrust, and stress. These all add to your expenses in the way of money spent for mental health practitioners and drugs. Cut them out, and you will save a lot of money.
d) Resolve to take charge of your life! Disassociate from people who have destructive life-styles, lie, cheat, steal, smoke, drink, use drugs, harbor prejudices, are narrow-minded in immoral and unfair ways, or just plain do not like you and have made it plain that this is the case. These are "toxic" people, and they poison you in many ways. Get away from as many of them as you can as quickly as you can.
Also include in this category those who use foul language, gossip, are chronically talking about all of the negatives in life, are generally undependable, and generally speaking are dishonest, scheming, hateful, violent.
The stress that many people feel these days can largely be eliminated or reduced by healthier means than drugs,alcohol, cigarettes, coffee, etc. They can be reduced through: sports activities, walking, running, yoga exercises, meditation, having a friend who will be a good listener on a regular basis for you (Listening Therapy) and other means.
You have some choices no matter how dire your situation. Make a sacred habit of choosing the good choices, and shunning the bad and destructive ones. As you do this, you will begin to associate with people who either will reform their worst habits in order to continue associating with you,
or you will gravitate to others who have healthier and more successful lifestyles and habits. Either way, you will gradually move into a situation where you progressively have more power to make more and better choices. USE the power to make good choices where you have them. By doing so, you will gain access to better choices.
Robert.Burns
spiritknight_2000@yahoo.com
Voluntary President Of the World