economy

Obama Talks to Buffett About Economy

by

President Barack Obama, preparing for a post-Labor Day speech with plans for stimulating the economy, talked with billionaire Warren Buffett about how to boost job creation and spur growth. “The president and Mr. Buffett discussed the overall outlook on the economy and the reaction to the headwinds we’ve experienced over the last couple of months,” said Josh Earnest, an administration spokesman. “They talked a little bit about some possible measures that would spur investment and increase economic growth and they also talked about some measures that could address the long-term fiscal situation in this country.” Obama placed the call yesterday … Read more

Biden to Defend Obamanomics in China

by

The People’s Daily, the official newspaper of China’s ruling Communist Party, spelled out Beijing’s chief concerns ahead of Biden’s arrival in Beijing on Wednesday evening local time, when he was greeted by senior Chinese diplomats. China wants Biden to reinforce U.S. assurances that its holdings of dollar assets and U.S. Treasury debt remain safe, despite Standard & Poor’s recent downgrade of the sovereign credit rating of the United States, the paper indicated. Since the Standard & Poor’s ratings downgrade in August, Chinese state media have accused Washington of reckless fiscal policies that have created uncertainty about Beijing’s big holdings of … Read more

Warren Buffett calls Tea Party Insane

by

Charlie Rose – Warren Buffett.   As always Buffett is illuminating and comforting.  He is the nation’s economic compass and a person we can consider a  genuine national treasure if there ever was one.   In this great interview with Charlie Rose he likens the budget debate as a game of chicken with two cars lined up heading  toward one another.  Both parties think the other will turn away before mutual self destruction except suddenly one party throw the steering wheel out the window.  Suddenly the other driver realizes he is dealing with an insane person, aka the Tea Party.