enigmaman

Skeptical About Buffett's Big Bet

Yes I agree about PE but I sure wish I had the Buffet touch, turns lead to silver and sometimes even gold, time will tell if he was right or wrong with his recent buy. But after reading that P Volcker is telling Obama that we have to stop depending on consumers making up so much of our GDP 70%, basically he said consumers need to make more stuff and spend less, maybe that is why W Buffet bought a train, to move the American stuff, oh and I also read its cheaper to transport coal by train then truck, so while we wont be able to burn it in the USA we sure can export it to China by train of course, at least to the coast.

Wall Street Breakfast: Must-Know News

And to make everybody feel better about the future and the benefits of the 787 billion stimulus bill the AP reports this bit of news


WASHINGTON — A top White House economist says spending from the $787 billion economic stimulus has already had its biggest impact on economic growth and will likely not contribute to significant expansion next year.

Christina Romer, the chair of President Barack Obama's Council of Economic Advisers, said Thursday that the $194 billion already spent gave a jolt to the economy that contributed to growth in the second and third quarters of the year. She told a congressional panel that by the middle of next year, the impact of the stimulus will level off. Romer said spending so far has saved or created 600,000 to 1.5 million jobs but warned that unemployment will remain high, above 9.5 percent, through the end of 2010.