Warren Buffet Issues Dire 2021 Inflation WARNING

AtomicPiss

https://www.youtube.com/watch?v=rtlTZL3Q5ts

greenblood

We just need to wait until people blow their stimulus money and max out their credit cards. Then the buying will stop and prices will drop

creepycoug

So I listened to Buffet, and whatever Munger said. I didn't think their comments were at all thought-provoking. Seriously, there's better and more incisive thought on this issue right here in the Club, especially now that I have my economis team complete with the return of @UW_Doog_Bot to pair up with @HoustonHusky . Sorry @Baseman , our guy here was acting like an old man with his friend eating cookies. Typical shareholder meeting ... geriatrics who come for the coffee and snacks. All he did was tell us shit's expensive now and the economy is "red hot". OK! Not the Oracle's finest hour if we're being honest.

But the narrator of the piece kept saying that Buffett was "hinting at" this and that ... he didn't hint at shit. He said what he said, and his buddy said it again just focused on raw materials. Unless I missed something, they're just saying this is a supply / scarcity problem.

The interesting part was when the narrator mentioned the Fed's take on "Transitory Inflation"; that is, inflation that will self-correct once supply is normalized again, presumably post-pandemic. Or whatever.

@HoustonHusky , the Oracle seems to think it's a supply clog issue. He didn't mention the fed once.

Interesting video. Worth watching. The narrator took some liberties IMO ascribing to Buffett shit he didn't say.

YellowSnow

creepycoug said:

So I listened to Buffet, and whatever Munger said. I didn't think their comments were at all thought-provoking. Seriously, there's better and more incisive thought on this in the Club. By a mile. Sorry @Baseman , our guy here was acting like an old man with his friend eating cookies. All he did was tell us shit's expensive now and the economy is "red hot". OK!

But the author of the piece kept saying that Buffett was "hinting at" this and that ... he didn't hint at shit. He said what he said, and his buddy said it again focused on raw materials. Unless I missed it.

The interesting part was when the narrator mentioned the Fed's take on "Transitory Inflation"; that is, inflation that will self-correct once supply is normalized again, presumably post-pandemic. Or whatever.

@HoustonHusky , the Oracle seems to think it's a supply clog issue. He didn't mention the fed once.

Interesting video. Worth watching. The narrator took some liberties IMO ascribing to Buffett shit he didn't say.

The last time we had high levels of inflation until the Gipper / Volcker choked it out, was due to a supply issue in energy which took a number of years to sort out. How long can these supply chain issues last? IDK the answer.

BleachedAnusDawg

@Logistics

Baseman

creepycoug said:

So I listened to Buffet, and whatever Munger said. I didn't think their comments were at all thought-provoking. Seriously, there's better and more incisive thought on this issue right here in the Club, especially now that I have my economis team complete with the return of @UW_Doog_Bot to pair up with @HoustonHusky . Sorry @Baseman , our guy here was acting like an old man with his friend eating cookies. Typical shareholder meeting ... geriatrics who come for the coffee and snacks. All he did was tell us shit's expensive now and the economy is "red hot". OK! Not the Oracle's finest hour if we're being honest.

But the narrator of the piece kept saying that Buffett was "hinting at" this and that ... he didn't hint at shit. He said what he said, and his buddy said it again just focused on raw materials. Unless I missed something, they're just saying this is a supply / scarcity problem.

The interesting part was when the narrator mentioned the Fed's take on "Transitory Inflation"; that is, inflation that will self-correct once supply is normalized again, presumably post-pandemic. Or whatever.

@HoustonHusky , the Oracle seems to think it's a supply clog issue. He didn't mention the fed once.

Interesting video. Worth watching. The narrator took some liberties IMO ascribing to Buffett shit he didn't say.

What’s your point? Dumb it down.

PurpleThrobber

I listen to whatever Munger is ranting about and then invest in it because Buffett is going all in on the exact thing Charlie is pissed about.

Good cop/bad cop.

The Script.

creepycoug

Baseman said:

creepycoug said:

So I listened to Buffet, and whatever Munger said. I didn't think their comments were at all thought-provoking. Seriously, there's better and more incisive thought on this issue right here in the Club, especially now that I have my economis team complete with the return of @UW_Doog_Bot to pair up with @HoustonHusky . Sorry @Baseman , our guy here was acting like an old man with his friend eating cookies. Typical shareholder meeting ... geriatrics who come for the coffee and snacks. All he did was tell us shit's expensive now and the economy is "red hot". OK! Not the Oracle's finest hour if we're being honest.

But the narrator of the piece kept saying that Buffett was "hinting at" this and that ... he didn't hint at shit. He said what he said, and his buddy said it again just focused on raw materials. Unless I missed something, they're just saying this is a supply / scarcity problem.

The interesting part was when the narrator mentioned the Fed's take on "Transitory Inflation"; that is, inflation that will self-correct once supply is normalized again, presumably post-pandemic. Or whatever.

@HoustonHusky , the Oracle seems to think it's a supply clog issue. He didn't mention the fed once.

Interesting video. Worth watching. The narrator took some liberties IMO ascribing to Buffett shit he didn't say.

What’s your point? Dumb it down.

Just saying that one of our best thinkers on all things financial markets and business was propped up as sharing an interesting view on inflation, and if anything he shared an obvious view on inflation (that we have it) and didn't really dig in.

Then again, I may have talked myself out of my own criticism ... he was at a shareholder meeting. Really the critique should be of the guy who made the youtube video.

Still, I was surprised Buffett didn't mention the Fed in his remarks. I am positive that Munger is concerned about the money printing press running 24/7.

Baseman

creepycoug said:

Baseman said:

creepycoug said:

So I listened to Buffet, and whatever Munger said. I didn't think their comments were at all thought-provoking. Seriously, there's better and more incisive thought on this issue right here in the Club, especially now that I have my economis team complete with the return of @UW_Doog_Bot to pair up with @HoustonHusky . Sorry @Baseman , our guy here was acting like an old man with his friend eating cookies. Typical shareholder meeting ... geriatrics who come for the coffee and snacks. All he did was tell us shit's expensive now and the economy is "red hot". OK! Not the Oracle's finest hour if we're being honest.

But the narrator of the piece kept saying that Buffett was "hinting at" this and that ... he didn't hint at shit. He said what he said, and his buddy said it again just focused on raw materials. Unless I missed something, they're just saying this is a supply / scarcity problem.

The interesting part was when the narrator mentioned the Fed's take on "Transitory Inflation"; that is, inflation that will self-correct once supply is normalized again, presumably post-pandemic. Or whatever.

@HoustonHusky , the Oracle seems to think it's a supply clog issue. He didn't mention the fed once.

Interesting video. Worth watching. The narrator took some liberties IMO ascribing to Buffett shit he didn't say.

What’s your point? Dumb it down.

Just saying that one of our best thinkers on all things financial markets and business was propped up as sharing an interesting view on inflation, and if anything he shared an obvious view on inflation (that we have it) and didn't really dig in.

Then again, I may have talked myself out of my own criticism ... he was at a shareholder meeting. Really the critique should be of the guy who made the youtube video.

Still, I was surprised Buffett didn't mention the Fed in his remarks. I am positive that Munger is concerned about the money printing press running 24/7.

Berkshire will benefit from inflation. Their massive insurance float provides them a negative cost of capital and most of Berkshire's businesses thrive when commodity prices rise.

Buffett has his share of whiffs but his core principles are as relevant today as they were 60 years ago.

HoustonHusky

Always thought Buffet was kinda a POS...anyone want to feel dirty go look at Berkshire’s predatory lending practices, especially targeting poor people. Wells Fargo folks should have gone to jail twice but he ran cover for them because he owned a bunch. Add to that what he’s done with his rail car/pipeline debate (he helps fund/lobbies against oil pipelines because he owns the rail car companies that ship the oil in a much more dangerous and environmentally unfriendly way than any pipeline would).

He can’t say a word about any govt policy because he depends on them for too much...he makes bank but is pretty much the definition of crony capitalism.

creepycoug

HoustonHusky said:

Always thought Buffet was kinda a POS...anyone want to feel dirty go look at Berkshire’s predatory lending practices, especially targeting poor people. Wells Fargo folks should have gone to jail twice but he ran cover for them because he owned a bunch. Add to that what he’s done with his rail car/pipeline debate (he helps fund/lobbies against oil pipelines because he owns the rail car companies that ship the oil in a much more dangerous and environmentally unfriendly way than any pipeline would).

He can’t say a word about any govt policy because he depends on them for too much...he makes bank but is pretty much the definition of crony capitalism.

I knew none of that, especially the pipeline stuff. Good to know.

HoustonHusky

Not a coincidence the airlines got a bailout without bankrupting/recapitalization as Buffet was a huge shareholder...he sold afterwards at a loss but he should have lost all his investment instead of half.

Also basically lived as a polygamist...and not in the ‘I have a harem of hotties’ sense...weird dude.

creepycoug

HoustonHusky said:

Not a coincidence the airlines got a bailout without bankrupting/recapitalization as Buffet was a huge shareholder...he sold afterwards at a loss but he should have lost all his investment instead of half.

Also basically lived as a polygamist...and not in the ‘I have a harem of hotties’ sense...weird dude.

No shit? Really?

HoustonHusky

https://www.businessinsider.com/warren-buffett-marriage-wife-2017-10

YellowSnow

HoustonHusky said:

Not a coincidence the airlines got a bailout without bankrupting/recapitalization as Buffet was a huge shareholder...he sold afterwards at a loss but he should have lost all his investment instead of half.

Also basically lived as a polygamist...and not in the ‘I have a harem of hotties’ sense...weird dude.

Come on man!! That's not REAL polygamy.

RaceBannon

Cheaper to keep her and LEAVE

Rich people get all the breaks.

Buffet got into repos towards the end then bought Berkshire and does high end real estate

EwaDawg

HoustonHusky said:

https://www.businessinsider.com/warren-buffett-marriage-wife-2017-10

From a financial standpoint that has to be much better than divorcing (like Bozos and Gates) and loosing upwards of $35 billion in the process.

Just outlive the witch and carry on.

Not a bad motto.

BleachedAnusDawg

RaceBannon said:

Cheaper to keep her and LEAVE

Rich people get all the breaks.

Buffet got into repos towards the end then bought Berkshire and does high end real estate

I thought he was in to trailer parks?

HoustonHusky

EwaDawg said:

HoustonHusky said:

https://www.businessinsider.com/warren-buffett-marriage-wife-2017-10

From a financial standpoint that has to be much better than divorcing (like Bozos and Gates) and loosing upwards of $35 billion in the process.

Just outlive the witch and carry on.

Not a bad motto.

Helps if you find one that introduces you to future side pieces or let’s you fool around for business interests (the WP lady), even if she gets the occasional mental breakdown and bangs the occasional tennis pro.

Baseman

HoustonHusky said:

Not a coincidence the airlines got a bailout without bankrupting/recapitalization as Buffet was a huge shareholder...he sold afterwards at a loss but he should have lost all his investment instead of half.

Also basically lived as a polygamist...and not in the ‘I have a harem of hotties’ sense...weird dude.

Disagree. When there are no travelers you don't BK and reorg. You die and stay dead.

If Congress is going to prop up Amtrak you better believe they won't let the airlines go under and lose 500,000 industry jobs.

Buffet could have extended Delta or Southwest a preferred share arrangement with warrants which would allow him to own either airline for ~$15B but didn't.

Airlines as I learned are a great business until they aren't.

HoustonHusky

Baseman said:

HoustonHusky said:

Not a coincidence the airlines got a bailout without bankrupting/recapitalization as Buffet was a huge shareholder...he sold afterwards at a loss but he should have lost all his investment instead of half.

Also basically lived as a polygamist...and not in the ‘I have a harem of hotties’ sense...weird dude.

Disagree. When there are no travelers you don't BK and reorg. You die and stay dead.

If Congress is going to prop up Amtrak you better believe they won't let the airlines go under and lose 500,000 industry jobs.

Buffet could have extended Delta or Southwest a preferred share arrangement with warrants which would allow him to own either airline for ~$15B but didn't.

Airlines as I learned are a great business until they aren't.

You can bail out the business and keep them whole, but it’s insane to say you bail out the stockholders. The entire point of stock returns is that they take the most risk if things go south...when the govt says nope...we will backstop you so you take no risk...well then you have something but it sure isn’t capitalism.

And Buffet didn’t because there is zero way even he could have bribed his way to get the govt to just bail him out...