Opinion

OMAHA ORACLE’S CALM, AS ECONOMY IS BUFFETTED

THE ISSUE: Warren Buffett’s take on the economy and what President Obama should do.

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I really enjoyed the interview with Warren Buffett (“Oracle of Omaha Says President Obama Must Step Up,” March 10).

Buffett was very precise and seemingly honest about his answers about America’s current situation. More important, he is confident about our outcome down the road.

If my president cannot speak calming words to this great country and confidently say that we will be all right, I am glad someone can.

Luke Nazzaro

Pittson, Pa.

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Buffett probably has been buying up millions of shares of beaten-down stocks, so it is easy to understand why he supports President Obama.

This is America, and, if you can make money on a bad economy, fair enough. But why would he support Obama during an “economic Pearl Harbor”?

If FDR had said, in response to the attack on Pearl Harbor, that he wanted to slash the Navy’s budget and reach out to moderate Japanese imperialists, he would not have deserved anyone’s support.

John Dumary Jr.

Duanesburg

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I have to question Buffett’s sanity.

Why in the world would he endorse Obama when he disagrees with him on almost every issue regarding the economy?

Buffett may end up known not as the Oracle of Omaha but as the Crazy Old Coot of Omaha.

Bill Shook

Hampton, NH

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In the “Oracle of Omaha,” Buffett sounds shocked that projected policies of more government spending, taxes and regulations have undercut our economy.

These Democratic policies that he supports are a deliberate rejection of those of the last three decades, when he made his fortune.

They return us to the Carter era of stagflation, shortage and surrender.

Buffett compares our situation to Pearl Harbor, a sneak attack by a foreign enemy. But as another oracle once said, “we have met the enemy, and it is us.”

Tim O’Neill

Pompano Beach, Fla.

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After Obama’s last two speeches, which include the one to Congress, the Dow Jones nose-dived. After the interview with Buffett, the Dow Jones went up 250 points. Why?

Obama emphasizes negativity, and Buffett emphasizes positivity.

Though neither has a crystal ball, in times of extreme hardship we don’t need to be reminded of all the gory details.

At least Buffett gave us a much better sense of direction so that we don’t have to rush to the bank, pull our money out and put it under the mattress.

Obama must inform us of and implement an intelligent plan to allocate the balance of the bailout money.

We need a majority of the nation to feel more confident, not a select minority. Equally important, he needs more people in his own party to be less jittery.

Carl Rosenberg

Great Neck

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First, Buffett says that the economy has “fallen off a cliff” and that we are seeing an “economic Pearl Harbor.” Then he says, “I’ve never seen Americans more fearful than this.”

Does the oracle see any connection between his statements of economic catasrophy and American fear?

At some point, there needs to be a new strategy to sell the president’s economic plans. Scaring people into submission is just making it worse.

Greg Rand

White Plains