Blog, Business & Finance
Warren Buffett.. Manipulative, Genius, or Both?
June 25, 2009 by admin · Leave a Comment
Warren Buffett beat me on the Forbes Richest People’s list by a few hundred dollars, so I guess he can’t be that much of a buffoon, but his latest comments kind of irked me. I’ve been asking this question to myself for years, because Buffett has so much credibility in most secters, that a statement like his can single handedly move the DOW. Just look at yesterday.
Yesterday, Mr. Buffett publicly stated that things are going to get a lot worse before they get better.
”It looks like we are going to need more medicine, not less.” (and he wasn’t talking about healthcare for those that got excited). He also said, “We’re going to have more unemployment. The recovery really hasn’t gotten going. It looks like we are going to need another stimulus package to pull out of this current spiral.”
Here is my question. Is Warren Buffett making statements that he truely believes in, or is trying to single hanedly suppress the positive mentality to revert back to “gloom and doom” thinking? Why would he do that? Simple. Buffett owns several companies and is a shareholder in tons of others. If the American people and more importantly Wall Street become affected by Buffett’s statements, then the DOW will go lower, allowing Buffett to buy more of his own stock at LOWER prices while he waits the immenent recovery to cash in his chips. Individually, that is power, and guess what?….There is no law in place to stop him from doing so.
I’m also not quite sure where we are going to get another stimulus package from. Didn’t President Obama come out and say that we are out of money, in a round about way?
If commodities such as oil are being increased by pure speculation and manipulation, why can’t the stock market? What are the agenda’s behind the mouthpieces that say these statements where it affects our current financial crisis? My opinion is that the agenda is money and greed and unfortunately that is going to be the American way of life for some time. There is no control over it and the rich and powerful will continue to achieve more wealth and gain more power.
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