Is Buffet giving Obama a vote of no confidence?

My friend the Brooks mentioned that Obama’s economic advisers were renown economists and Warren Buffet supported Obama’s ideas. Now I wonder if this is still the case given what Buffet writes in his letter to shareholders of Berkshire Hathaway:

This debilitating spiral has spurred our government to take massive action. In poker terms, the Treasury and the Fed have gone “all in.” Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel. These once-unthinkable dosages will almost certainly bring on unwelcome aftereffects. Their precise nature is anyone’s guess, though one likely consequence is an onslaught of inflation.  Moreover, major industries have become dependent on Federal assistance, and they will be followed by cities and states bearing mind-boggling requests. Weaning these entities from the public teat will be a political challenge. They won’t leave willingly.

“Inflation”, “mind-boggling aftereffects”, “once unthinkable dosages”, major industries dependent on the “public teat” who “won’t leave it willingly”?  These are not words of someone who still agrees with Obama.  By comparing the Federal budget policy to going “all in” in a poker game, Buffet is saying that Obama and the democrats in Congress are making a terrible gamble, echoing David S. Broder in the Washington Post (hat tip:  American Thinker), “When we elected Obama, we didn’t know what a gambler we were getting.”

This reveals the mind of the country’s foremost investor, and is undoubtedly representative of how investors feel and why stock markets continue their downward spiral.

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