VIDEO ON MSN MONEY
"I don't always talk to obama voters, but when I do, ........... I order large fries"!
"The amount of debt globally has soared more than 40 percent to $100 trillion since the first signs of the financial crisis as governments borrowed to pull their economies out of recession and companies took advantage of record low interest rates.
The $30 trillion increase from $70 trillion between mid-2007 and mid-2013 compares with a $3.86 trillion decline in the value of equities to $53.8 trillion, according to the Bank for International Settlements and data compiled by Bloomberg. The jump in debt as measured by the Basel, in Switzerland-based BIS its quarterly review is almost twice the U.S. economy"
He can buy all the stocks, business he wants. But he is out to be rich and the hell with the true American. Case in point, He bought out BNSF railroad. This is a very important source of transportation in our rural ND. It gets our farm commodities to market, ships our coal, and petroleum.
BNSF controls the freight rates, and what will use the rail cars and when. The rail lines are in poor condition. There have been several train derailments in ND and MN in the past year. Including several that included petroleum cars. The farm communities are having trouble getting enough cars to transport the grain, Our sugar manufactures had to stop or slow sugar production, because they can't get the rail to deliver the sugar to the buyers. The Am Track has been suspended at times and schedules limited because of the BNSF use of tracks.
If he wants to buy things, he has to learn to maintain them, and expand service to the users of his product or service. Not jack up rates and provide lesser service. Farm commodity prices are at a much lower price than they have been in several years. When the farmer wants to sell his grain to an elevator he has to wait if the elevator is full and can not get in any rail cars to ship out what they have in stock. If they have room to take in more grain they are charging a basis which is effected by freight rates. So let's say the grain market is at $4.00 a bu. and the basis is $.90 the farmer is getting only $ 3.10 per bu.
Buffet needs to spend some of his millions on his railroad infrastructure,( which would be a tax deduction for him) and run it like a business that will keep his customers happy and in business, rather than charging an arm and a leg for a service that is getting worse by the day.
BNSF has turned out like Wal-Mart's push out all the competitions, than let the consumers later deal with the higher prices, poor quality and service after there is no where else to get the product. That's just my opinion.
Buffett has one big advantage over most investors. He won't ever need the money he is investing to eat or pay the rent. He has no plans or needs to ever spend it on anything.
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[BRIEFING.COM] The S&P 500 ran into a wall of resistance shortly after the top of the hour and dipped back to its lows of the morning (which weren't all that low). The pullback was emblematic of today's session where there simply hasn't been much conviction.
The latter is raising a few eyebrows since there was enough good news this morning (eg., no escalation of geopolitical problems, M&A activity, ISM Index at highest level since March 2011) to power up the market, and yet ... More
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