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Rumor Mill News Reading Room, Current Archive

Warren Buffett Lost $1 Billion Yesterday, and Another $700 Million Today....Pretty Soon We Will Be Talking Real Money...

Posted By: Watchman
Date: Wednesday, 22-Oct-2014 21:14:15
www.rumormill.news/2430

Poor uncle Warren. He better drink a lot more Coke Classic. He owns 400 million shares of Coke. He lost $1 billion yesterday on his 70 million shares of IBM. What a genius. The doddering old fool doesn’t see the death of consumer spending. He is so rich and disconnected from the real world, despite portraying a folksy uncle, that he hasn’t grasped that the middle class has been gutted by his buddies at the Federal Reserve and on Wall Street. They are the people drinking Coke and eating Big Macs. The average family is so stretched after seeing their real household income not grow since 1989, while their debt load has skyrocketed, they can no longer afford a lousy McDonald’s Happy Meal.

Coke and McDonalds were the poster children for the American consumer society. These are mega-corporations who generated $50 billion and $30 billion in revenues annually. They are in decline. They will not be revived, because the consumer is gutted and dead on the side of the financial superhighway. Keep believing the economic recovery storyline as companies selling stuff to consumers keep reporting shitty results. Only a blithering idiot, Warren Buffett or a CNBC bimbo would believe it.

The rest: http://investmentwatchblog.com/warren-buffett-loses-another-700-million-today/



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AN EXPLANATION OF THE FACTIONS