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UPDATE 2-Buffett worried on inflation, Greek 'high drama'
Known for his simple language and homespun humor, Buffett likened the crisis to a movie with a depressing ending.
"It will be high drama," he said. "I really don't know how this movie ends, and I try not to go to movies like that."
Coming soon to a theater near you.
ICE: Mortgage Delinquency Rate Increased Year-over-year in October
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From ICE: ICE First Look at Mortgage Performance: Serious delinquencies hit
17-month high while foreclosure activity remains historically muted
• At 3.45% ...
2 hours ago
6 comments:
"......and I try not to go to movies like that."
Bad analogy.
It's not a movieand it's not simply a matter of choosing to go or not go.
It's and epidemic of unpayable debts. The well has been poisoned and toxic effects are surfacing and and spreading everywhere. Buffett is not immune.
Buffett sees "printing", I see debt.
Couple of interesting articles on the Greece situation over at Pension Pulse and Zero Hedge, even though they claim to not be reporting on it.
My thoughts are this. Greece has been ungovernable since its inception. That would be thousands of years ago. One only has to read the Orsetia, which is a drama about the first jury trial, to know why. Athena, Goddess of Wisdom, basically bribed the jury to get Orestes acquited of matricide, because he made sacrifices to her. Seems about par for the course.
One of the things I enjoy most about doing this blog is reading the comments left for me.
Today is no exception!
mab,
I couldn't help but think the same thing. We are not given the choice to leave the movie theater just because the movie stinks. They've locked the doors. I also smell smoke.
GawainsGhost,
It does indeed seem about par for the course.
Tragedy
Many ancient Greek tragedians employed the ekkyklêma as a theatrical device, which was a cart hidden behind the scenery which could be rolled out to display the aftermath of some event which had happened out of sight of the audience.
Well, what follows may seem off-topic, but really it's not. When one considers the Greece situation, where tax evasion (that is, taking services without paying for them) is considered patriotic, it's par for the course.
My mother and I went to do a cash-for-keys today. Exactly what part of broom-clean, no personal property left behind and all attachments must remain do these people not understand?
"Oh, we'll come pick up the trampoline later."
No, you won't. You'll remove it now, or you don't get this check.
"Oh, but we installed that hot tub."
I don't care who installed it. It's now part of the house. Anything attached to the house must remain with the house, or you don't get this check.
Unfreakingbelievable. It's like these people simply do not grasp you cannot get something for nothing. So you installed a hot tub, couldn't make your monthly payments, and now you've lost it, along with the house you couldn't afford. I look upon that as not my problem.
No, you cannot take the hot tub. Yes, you must remove the trampoline. Or you don't get this check.
But it's even worse than that. I got a call the other day from some idiot realtor who said, "I have a buyer who would like to make a verbal offer on one of your listings."
Sir, the seller does not respond to verbal offers. A verbal offer isn't worth the paper it's not printed on. Proof of financing or proof of cash, a signed written contract, and a check for the earnest money are required to present an offer.
And this clown is a licensed realtor? Hello!
That ought to give you guys a clue as to how things really are in the wonderful world of real estate. Or Greece, for that matter.
GawainsGhost,
Good grief! Your story reminds me a bit of Moving.
Moving (1988 film)
They sell the New Jersey home and buy one in Idaho from an eccentric older couple, with the husband saying "we're taking it with us" any arbitrary fixture (like the windows and doors), then following it up with "just kidding", until it becomes a running joke.
They weren't kidding.
The Pears arrive at their new home, only to find the pool, windows and doors removed, along with various other fixtures.
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