Warren Buffett found his lost integrity?

It seems like Warren Buffett has decided that it's not the time to be a market cheerleader anymore and that getting back to the reality might be after all better than just talking his portfolio up (maybe he's actually loaded with PUTs and shorts... who knows).

In his latest inteview on ABC News, available on YouTube from this link (unfortunately, ABC has disabled the embedding function), he has some interesting comments:
  • "We're not a free fall but we're not in a recovery"
  • "I have never seen it [a recession] quite happen like this"
  • "I don't know where it's [the unemployment rate] going to go but it's got way to go. [...] 11% wouldn't surprise me."
  • "The numbers I was seeing told me it's going to be very very tough year."
  • "It [a stimulus] is not a panacea. If a stimulus is the right thing, you hope it doesn't get watered down in many ways. Our first stimulus plan [...] every body was putting things for their own constituents".
It seems like Obama has been fooling the American by putting forward respected people like Paul Volcker and Warren Buffett. As any self-respecting politician, lying and deceiving is the name of the game for Barrack Obama, FdR. I said before: Volcker should resign. Obama does not deserve the support of these people, as he's the puppet of the Geithners and the Rubins.

Q: "During his campaign, he [Obama] threw your name as a mentor and someone he turned to for advice. How often do you speak to him now ?"

A: "Not often [laughs]"
Q: "Does he call you?"
A: "Not often, no"

Q: Do you think looking back, TARP is needed? TARP was worth it?
A: I don't think it was done in a very sophisticated way but [helped restore some confidence, even if not efficiently]

Q: What do you think about the PPIP?
A: I do not like the idea of any kind of a plan [...] where Wall Street makes a lot of money. My plan provided they do not make any money whatsoever and where the American public would make the money. [...] Wall Street owes the American people one at this point.

Ridiculous statements:
  • "We were in a free fall starting in the financial markets and then spreading into the economy."
    [My comment: of course, the people collapsed under the weight of their debt and that lead to the financial collapse of the lenders. He doesn't get simple causality right...]
  • "The best days of America by far lie ahead."
    [My comment: the American Empire is following the Roman Empire.]
As you can see, Warren Buffet seems against the the stimulus plans, but this doesn't prevent ABC to summarize the interview with: The "Oracle of Omaha" believes a second stimulus may be called for.

Here are the previous posts regarding Warren Buffett and Berkshire Hathaway:

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