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I'll believe we're back on the path to sanity when the wittering about Buffet being Treas Sec is replaced by rumours about someone like Roubini getting the job.

The idea that someone should be Treas Sec because they have a good investment record and have made a few throw-away populist comments doesn't exactly inspire me, given what's happening at the moment.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Fri Oct 10th, 2008 at 04:27:50 AM EST
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Care to cross-post this comment on the Buffet thread?

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith
by Migeru (migeru at eurotrib dot com) on Fri Oct 10th, 2008 at 04:30:11 AM EST
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Buffett would never want it anyway.  Roubini would be a great one.

Be nice to America. Or we'll bring democracy to your country.
by Drew J Jones (pedobear@pennstatefootball.com) on Fri Oct 10th, 2008 at 07:38:50 AM EST
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You want to be greedy when others are fearful and you want to be fearful when others are greedy. In my adult lifetime I don't think I've ever seen people as fearful, economically, as they are right now.

- Warren Buffet, ten days ago, after he invested in Goldman Sachs and General Electric.

The central principle of investment is to go contrary to the general opinion, on the grounds that if everyone agreed about its merit, the investment is inevitably too dear and therefore unattractive.

- John Maynard Keynes, a long time ago.



Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid on Sat Oct 11th, 2008 at 09:24:25 AM EST
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