forum Politics and Society ›› Stock Market Crashes 300 points ›› new reply Post Reply
chris spiro
got that pma
5,371 Posts
31/M/PA


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March 3 2009 1:54 PM   QuickQuote Quote  
That's a pretty disingenous representation of that article. You completely left out the optimistic aspects where Buffett talks about the coming rebound and the "best days" of the economy that lie ahead.

From Buffett's annual letter to shareholders of Berkshire:

"Amid this bad news, however, never forget that our country has faced far worse travails in the past. In
the 20th Century alone, we dealt with two great wars (one of which we initially appeared to be losing); a dozen or
so panics and recessions; virulent inflation that led to a 211?2% prime rate in 1980; and the Great Depression of
the 1930s, when unemployment ranged between 15% and 25% for many years. America has had no shortage of
challenges.
Without fail, however, we've overcome them. In the face of those obstacles - and many others - the
real standard of living for Americans improved nearly seven-fold during the 1900s, while the Dow Jones
Industrials rose from 66 to 11,497. Compare the record of this period with the dozens of centuries during which
humans secured only tiny gains, if any, in how they lived. Though the path has not been smooth, our economic
system has worked extraordinarily well over time. It has unleashed human potential as no other system has, and it
will continue to do so. America's best days lie ahead."
G uNiT UgLy
g@unit.cum
3,231 Posts
32/M/PA


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March 3 2009 7:26 PM   QuickQuote Quote  
Originally posted by:chris spiro

"Amid this bad news, however, never forget that our country has faced far worse travails in the past. In
the 20th Century alone, we dealt with two great wars (one of which we initially appeared to be losing); a dozen or
so panics and recessions; virulent inflation that led to a 211?2% prime rate in 1980; and the Great Depression of
the 1930s, when unemployment ranged between 15% and 25% for many years. America has had no shortage of
challenges.
Without fail, however, we've overcome them. In the face of those obstacles - and many others - the
real standard of living for Americans improved nearly seven-fold during the 1900s, while the Dow Jones
Industrials rose from 66 to 11,497. Compare the record of this period with the dozens of centuries during which
humans secured only tiny gains, if any, in how they lived. Though the path has not been smooth, our economic
system has worked extraordinarily well over time. It has unleashed human potential as no other system has, and it
will continue to do so. America's best days lie ahead.
You've got lots to talk about today and should make lots of time for it all. You're filled with good mental and social energy and ought to be able to catch people at just the right time.
You've got enough to do without having to endure all the gossip going on around you. Try your best to be polite without having to fall in with that crowd -- you can find a good balance.
Get playful today and try to get your message across in some new way. Use some new online service that seems fun or make a game out of your delivery -- in any case, keep smiling throughout!
Try your best to hold onto your sense of reality today -- hard as it may be! Something big has shifted and you might have to adjust your thoughts and feelings in accordance with the new info!
GEMINI May 21-June 21 You're more in tune with the tech world than usual and now is a good time to price out gadgets for later consumption. You may want to look into stuff that doesn't quite make sense to you yet.
You're beautiful and a genius and will undoubtedly find success in whatever you want to do. "



Originally posted by:emofacial


chris spiro
got that pma
5,371 Posts
31/M/PA


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March 4 2009 1:30 PM   QuickQuote Quote  
lol owned
billy ray cyrus, MD
slugger
1,785 Posts
32/M/NA


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March 5 2009 2:54 PM   QuickQuote Quote  
6,630.20 and falling.
chris spiro
got that pma
5,371 Posts
31/M/PA


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April 15 2010 2:23 AM   QuickQuote Quote  
11,123
G uNiT UgLy
g@unit.cum
3,231 Posts
32/M/PA


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April 15 2010 4:44 AM   QuickQuote Quote  
Originally posted by: chris spiro

11,123





lol. yeah, a year after the crash. you are such a fucking idiot it's hard to put into words.


ladies and gentleman, it's the matt of the financial world.
Matti Frost
The Winter's Wrath
7,923 Posts
45/M/PA


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April 15 2010 2:38 PM   QuickQuote Quote  
Nobody does mention this, though. The panic-driven media doesn't want to talk about the DJIA unless it's in free-fall.

It's amazing that the market has recovered to such a degree, but good news doesn't count as news, apparently.
white trash dirt bag
pass the whore
2,167 Posts
35/M/NA


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April 15 2010 2:51 PM   QuickQuote Quote  
Actually, I've heard them talk about it quite a bit, but I watch and read a lot of news. There may be less in the mainstream media, I don't know. I'd venture to guess that aside from the whole 'good news not being news' factor in general on the mainstream news programs, there might be a political slant to the absence of 6 o'clock News coverage as they lack the soundbites of which it is largely composed, as Republicans don't want to give the Obama administration any credit for any part of the recovery, and Democrats are hestitant to claim credit lest it go south, and also because they're just pussies in general. [Republicans would be using it as a fundraiser by now, even if it was as short lived as their constituency's attention span.]
We'll see if it's sustained in a year from now.
white trash dirt bag
pass the whore
2,167 Posts
35/M/NA


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April 15 2010 2:54 PM   QuickQuote Quote  
.
chris spiro
got that pma
5,371 Posts
31/M/PA


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April 15 2010 4:55 PM   QuickQuote Quote  
Originally posted by: G uNiT UgLy

Originally posted by: chris spiro

11,123





lol. yeah, a year after the crash.



A year after the crash and you're still clueless.
Pollcat
afam / aasr 32°
23,563 Posts
40/M/PA


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April 15 2010 5:06 PM   QuickQuote Quote  
tried to tell people to get into pown but no one wanted to listen to me. oh well i will take my profits and laugh.
crunkmoose
Fuck Nazis.
24,526 Posts
61/M/MA


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April 15 2010 5:31 PM   QuickQuote Quote  
Originally posted by: Pollcat

tried to tell people to get into pown but no one wanted to listen to me. oh well i will take my profits and laugh.



Well, some people knew. My GE stock is already nearing $200 in profits, which isn't must less than I invested in the first place, and looks to go higher.
Pollcat
afam / aasr 32°
23,563 Posts
40/M/PA


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April 15 2010 5:38 PM   QuickQuote Quote  
Originally posted by: crunkmoose

Originally posted by: Pollcat

tried to tell people to get into pown but no one wanted to listen to me. oh well i will take my profits and laugh.



Well, some people knew. My GE stock is already nearing $200 in profits, which isn't must less than I invested in the first place, and looks to go higher.



oh im killing it on ge. up almost 80 percent from when i bought it. my portfolio is up almost fifty percent year to date.

check out the year to date on pown.
Pollcat
afam / aasr 32°
23,563 Posts
40/M/PA


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April 15 2010 5:44 PM   QuickQuote Quote  
.
Brett Weir
im gay
45,203 Posts
34/M/NY


online   (8)
April 15 2010 6:13 PM   QuickQuote Quote  
right now im saving a bit of cash to eventually invest, i just dont know where to start. i would want to discuss that with you at a later date, mr. pollman.
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