Stockman Scott's Political Debate Porch Message Board

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Politics : Stockman Scott's Political Debate Porch

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To: stockman_scott who wrote (58058)	10/2/2004 12:17:08 PM
From: AuBug	Read Replies (2) of 89467

Warren Buffett appreciates the dangers of deficit spending which Bush has taken to new heights. Today I read that Bush is touting more tax cuts while waging foreign wars so we can be assured that federal deficits will get even larger. The feds will have to sell more Treasurys to fund their extravagancies which will mean higher interest rates since supply will exceed demand and lower Treasury bond prices have higher yields. The foreigners holding over a trillion dollars worth of Treasurys will see their principal evaporating and start selling making the situation even worse. Rising rates will make homes unaffordable for the lower income brackets and home sellers will discover what a buyer's market really is. As this unfolds the rest of world is going to embrace the Euro as the international currency and start pricing oil deliveries in Euros and not dollars resulting in the desire to exchange dollar currency holdings for other currencies, but, if they want to sell dollars and sell Treasurys at the same time there will not be many buyers left for those dollars. So with a total lack of fiscal responsibility if Bush is elected I see the opportunity to get rich by: shorting the dollar, shorting Treasurys, shorting the stock market, buying military-industrial complex stocks, and, cash will be king because the bottom is long way down. I think your analogy between electing Bush and rehiring Ken Lay is appropriate, both have no fiscal responsibility and built empires out of a house of cards with no sound financial foundation. Bush is bankrupting this country. Bush is the worst president this country will ever see. Bush had the nerve to ask Kerry in debate how will you pay for all this. Bush, you moron, have you ever asked yourself how are you going to pay for your military crusade while cutting taxes without destroying our economy by raises interest rates, tanking the stock market and destroying the value of the dollar??? No, I'm sure you have not. I'm also certain that if anyone in your administration was intelligent enough to understand economics and explain it to you that you would not be able to understand the answer. Warren Buffett understands better than anyone having made himself the second richest man in the world by investing. He understands how money and markets work. Bush does not. That's why Warren Buffett endorses John Kerry for president of the United States of America.

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