. August 26, 2008 SouthAmerica: Last Friday, August 22, 2008 I was watching Warren Buffett being interviewed on CNBC television program â they had Mr. Buffett for 3 hours answering all kinds of questions about the US economy, the US stock market, banks and investment banks, and about financial institutions such as Fannie & Freddie. I was surprised by one thing that Mr. Buffett said on that program â he was discussing Fannie and Freddie, and the massive mess in the financial markets including the problems affecting the large US banks, and other financial institutions operating in Wall Street. What surprised me the most is what he said about the major US banks, investment banks, and other major financial institutions that got into trouble because of the sub-prime massive mess - they had to take big losses and became undercapitalized â then they went around the world asking Foreign Sovereign Wealth Funds to invest on these institutions. Why they had to ask the money to these foreign sources of funds? Because they are not as sophisticated as many of the sources of funds in the United States. He said that there is plenty of money available in the United States but not to invest on these institutions â the smart money in the US were not willing to invest on these institutions and left them no option other than go after the money available from the Sovereign Wealth Funds. The Chinese are taking a beating on their Fannie and Freddie investments, never mind the investment that China made in the Blackstone Group just a little over a year ago. Citi Group and other major Wall Street institutions have taken many Sovereign Wealth Funds to the cleaners in the last few years, and I donât know if these foreign sources of funds have learned their lesson as yet. The good news for Wall Street is that the world is full of gullible and foolish people who are willing to keep sending their savings to be wasted in the United States. I can see banks such as Citi Group and other Wall Street financial institutions pitching their investment rationale to the Sovereign Wealth Funds â please send a few billions dollars to be invested on our bank or financial institution â and as soon the money arrives we are going to write it off as a loss regarding the sub-prime massive mess â we want to thank you in advance for your charitable contribution. .
. Kiwi trader: you're boring as monkey shit. ******** August 26, 2008 SouthAmerica: Might be boring for you, but I was surprised when he actually said that only unsophisticated money managers would invest on these financial institutions right now â and that there is plenty of smart money available for investment in the United States. By your reaction you might be one of the fools who lost his shirt here in the US and thought that you were making a good investment and that they were offering you a good deal. We need fools like you to keep sending their money for the big scam to move forward. .
Say something good about the United States. Make a thread talking about something that we're doing well, that is good for our economy and good for the world at large.
southamerica THE SCROLL KING I scroll miles and miles getting through your endless, pointless, boring cut&paste posts.
â¦.well I think a lot of what southamerica says makes sense. Some ET members remind me of pack animals, when the momentum is against someone, others feel the need to jump on the bandwagon to clamor, other than that, they are too spineless to make a call against the prevailing ET âcrowdâ. And, I suppose for some whingers, the ignore feature is too difficult to locate.
. SouthAmerica: Reply to ljmlmvlhk Thanks for your support. Lately I have been receiving many direct emails from people on this forum asking me to continue posting on this forum and ignore the usual suspects. The US mainstream media is gutless and they donât cover a lot of problems that has to be resolved in the United States â and if you mention and bring up these subjects then a bunch of idiots start calling you an anti-American. That is the only argument that they can come up to defend what is wrong with the United States today. One of my first postings on this forum in May 2005 was about how the United States had to reduce defense spending and invest trillions in infrastructure here in the United States because the US infrastructure was crumbling and I mentioned the ASCE report. Some members on this forum made a complaint about my posting and the entire thread was erased from this forum. Yesterday I was listening to Bloomberg radio on my car and the talking head was interviewing some well known economist who is a major advisor to the Barack Obama campaign and he was saying that he had participated in many meetings where Robert Rubin, Robert Reich and many other well-known economists and financiers participated and the core of their discussions is how the major goal for the US economy should be invest heavily in infra-structure around the country. I just wonder where these people were in the last 7 years? Why they started waking up only now? Today some of the most prominent economists in the United States agree that the US government should make a massive investment in infrastructure in the US in the coming years. But only 3 years ago many members of this forum considered that subject inappropriate, and they asked the moderator of this forum to erase my thread from this forum. Why "Paradigm Shift" thread has been removed from this board? http://www.elitetrader.com/vb/showthread.php?s=&threadid=50115 Then I posted the information once again in the economics forum as follows: What is a better US Gov investment for Future - Military Spending or Infrastructure? http://www.elitetrader.com/vb/showthread.php?s=&postid=818964&highlight=ASCE#post818964 And the moderator moved the information to the Politics and Religion forum. I guess his rationale to move that information from the economics forum to the Politics and Religion forum â it is because today for many Americans Defense spending has become a matter of Religion; based more on faith and fairy tales than in common sense. .
Now this is absolutely hilarious. Of all things American he likes Hollywood production. On the other hand it should not be surprising.