JPB

Here Comes a Consumer Killer

After reading many post I feel I must take issue with all the pundits who preach how bad economic conditions are. . It's not as bad and it will turn around faster than in the past; the world is an economic machine. A small world wide hiccup has occurred; credit was way too easy. The credit card company's MA, V and AMEX all are in business to serve the public and stockholders so they will adjust quickly. Corporate earnings are a question mark for several quarters to come but many companys I follow today are so lean and mean & foucusd on the consumer and great products. . Consumers have lost some buying power on home credit lines and now credit cards.But many (55%} have their home; all paid for and use home equity lines because they are tax deductible. There may not be a Santa Claus, for the economy we might not need one! There are the majority of people out there that use their credit cards for purchases that require 4 to 9 month payout's. Items like medical deductible expense and other needed items. . People will still use cards the world will go on, and as Charles Osgood used to say :Just stick around this too shall pass: jpb

Berkshire Hathaway Annual Shareholder Letter - Online Version

vERY GOOD READ INTERESTING KISS SYSTEM & A LOOK TO THE FUTURE MAKE THIS ONE OF THE BEST FUNDS TO OWN! YES I KNOW IT'S A STOCK!
JPB