Oh Wilbur...

[Parsad]

I've refrained from putting anything political on here, as such posts always end up in a flurry of rhetoric, but this one really made me laugh.  I love Wilbur Ross the investor, but if Americans want to know (do they even really care?) what the rest of the world is looking at and the perspective they have on what is happening in this U.S. election, this is all you need:

 

https://www.yahoo.com/finance/video/wilbur-ross-trump-joking-khan-114100665.html

 

No real way to defend Trump's comments on the Khan family, but even poor Wilbur gives it a go!  This oomphaloompa is so close to being the next President, even right-wing conservatives in Canada can't believe what is happening.  I know, I know...Hillary sucks...and I agree!  But really, you guys are contemplating giving the keys to Trump?  Every single person on this message board today, is living better than the previous generation, yet the fear this guy is permeating makes many Americans think they are still stuck in the middle of the Great Depression or in the midst of World War II.  I'm willing to bet that almost everyone on this board is living better than they did even 8 years ago!

 

Yeah, I know you guys can't stand Hillary, but don't give the keys to this raging lunatic who contradicts everything Americans and the rest of the world holds true.  And stop trying to explain what he REALLY meant when the crap comes flowing out of his mouth...not worth the effort or the self-denigration!  Cheers! 

[jeffmori7]

Haha! Yep, just for the message about fear and division, Trump deserve to be rejected with force.

[VersaillesinNY]

Buffett to Trump: Have You No Sense of Decency, Sir?

 

http://www.bloomberg.com/politics/articles/2016-08-01/clinton-looks-for-buffett-s-help-to-burnish-economic-credentials

 

Buffett on investing in... Hillary (Full 26 min)

 

 

Donald Trump was a stock market disaster

 

http://www.marketwatch.com/story/donald-trump-was-a-stock-market-disaster-2015-07-22

[Jurgis]

Not all of us hate Hillary. And we can still hope that Trump resoundingly loses.

[LC]

Yea I pretty much despise her. Just a really dirty politician. I'm close to going full anarchist and voting Trump just to watch it all burn (something something forest fire, regrowth, something something)

[cobafdek]

No real way to defend Trump's comments on the Khan family

 

Here's one:

 

https://globalriskinfo.com/2016/07/31/an-open-letter-to-khizr-khan/

[Edward]

I think many Americans would disagree with you on the country going in the right direction. Hillary supporters are either oblivious to what she is and what she had done, or live in really cushy spots in society and feel good. Trump isn't that great either but he is very competent, which is not something you can say about any politician nowadays.

 

I would also remind you that Buffet and Trump agree on trade:

 

[Jurgis]

Trump isn't that great either but he is very competent

 

ROFLMAO.

 

;D  ;D  ;D  ;D

 

Oh wait. This is actually sad. There are people out there who think that Trump is competent.

 

And these people are on CoBF.

 

And they are managing someone's money.

 

:-\  :'(

[Guest longinvestor]

Look forward to Trump accepting the challenge to meet and discuss his tax returns vis a vis Buffett 's.

[ERICOPOLY]

Look forward to Trump accepting the challenge to meet and discuss his tax returns vis a vis Buffett 's.

 

Buffett has figured out a way to keep 99% of his wealth free and clear of a tax return.

 

Even if Buffett were inclined to cheat, there just isn't much temptation in trying to maximize the returns of the final 1% of his assets.

 

Just imagine if you were only taxed on 1% of your net worth each year -- would you really give a shit about any way to reduce your tax bill further?

 

Buffett's tax bill is so inconsequential that... of all the billionaires... he's probably got the least to lose by proposing higher tax rates -- and I don't know if it's a coincidence or not, but that's exactly what he does.  Maybe he's completely clear of conflict of interest and so it makes it easier for him.  Or maybe it has nothing to do with the matter.  Don't know.

 

[TwoCitiesCapital]

I've refrained from putting anything political on here, as such posts always end up in a flurry of rhetoric, but this one really made me laugh.  I love Wilbur Ross the investor, but if Americans want to know (do they even really care?) what the rest of the world is looking at and the perspective they have on what is happening in this U.S. election, this is all you need:

 

https://www.yahoo.com/finance/video/wilbur-ross-trump-joking-khan-114100665.html

 

Every single person on this message board today, is living better than the previous generation, yet the fear this guy is permeating makes many Americans think they are still stuck in the middle of the Great Depression or in the midst of World War II. 

 

 

 

I take issue with this statement. While I see what you mean in terms of technological development, advances in certain fields, etc., it's estimated that millenials will be the first generation in a long while to NOT be better off than their parents on average.

 

Millenials are graduating in a world that demands they go to college at an exorbitant cost, take on tens of thousands in debt to do so, to be eligible for jobs that are highly competitive and barely pay better than the $15/hr demanded by fast food workers who don't need degrees, just so they can become "contributing members of society"/tax payers which means they are immediately on the hook for carrying the rest of the country with their income taxes by taking.

 

Further, tax rates are at historical lows while deficit and debt are at historic highs. Any millennial with a brain can see that the likely trajectory in taxes is up even while the likely trajectory of benefits for our generation is down (social security being nonviable, growing health care costs to be carried publicly, deleveraging of public balance sheet at some point given the 100k/tax payer balance at the moment, etc.).

 

Millenials are looking at more debt (personal and public), higher taxes, more expensive housings/cars/etc., lower social benefits, lower incomes,  and lower investment returns going forward. On top of that, very little of this was their fault (other than maybe student loan balances). This is all the consequences of decisions made by those representing their parents and grand parents.

 

Sure we have smartphones and computers are ubiquitous. It's still hard for me to see how that makes up for a lot of the above and can definitely understand why the younger generation is pissed off and supporting non-traditional candidates like Bernie and Trump.

 

 

[opihiman2]

I despise Clinton so much.  Her winning would send the message that if you lie, cheat, manipulate, and let your spouse cheat and walk all over you, you can become the POTUS. 

 

Trump all the way.

[Peregrine]

I despise Clinton so much.  Her winning would send the message that if you lie, cheat, manipulate, and let your spouse cheat and walk all over you, you can become the POTUS. 

 

Trump all the way.

 

It's interesting that many repeat that almost verbatim. But I'm curious - what exactly has she done to spite so many?

[infinitee00]

I despise Clinton so much.  Her winning would send the message that if you lie, cheat, manipulate, and let your spouse cheat and walk all over you, you can become the POTUS. 

 

Trump all the way.

 

Are you describing Trump or Clinton? I am confused, because I have heard the exact same things said about Trump, except that he was the one doing the cheating.

[Jurgis]

I despise Clinton Trump so much.  Her His winning would send the message that if you lie, cheat, manipulate, and let your spouse cheat and walk all over youcheat on your spouse, you can become the POTUS.

 

There. Fixed that for you.

[EliG]

I take issue with this statement. While I see what you mean in terms of technological development, advances in certain fields, etc., it's estimated that millenials will be the first generation in a long while to NOT be better off than their parents on average.

 

Millenials are graduating in a world that demands they go to college at an exorbitant cost, take on tens of thousands in debt to do so, to be eligible for jobs that are highly competitive and barely pay better than the $15/hr demanded by fast food workers who don't need degrees, just so they can become "contributing members of society"/tax payers which means they are immediately on the hook for carrying the rest of the country with their income taxes by taking.

 

Further, tax rates are at historical lows while deficit and debt are at historic highs. Any millennial with a brain can see that the likely trajectory in taxes is up even while the likely trajectory of benefits for our generation is down (social security being nonviable, growing health care costs to be carried publicly, deleveraging of public balance sheet at some point given the 100k/tax payer balance at the moment, etc.).

 

Millenials are looking at more debt (personal and public), higher taxes, more expensive housings/cars/etc., lower social benefits, lower incomes,  and lower investment returns going forward. On top of that, very little of this was their fault (other than maybe student loan balances). This is all the consequences of decisions made by those representing their parents and grand parents.

 

Sure we have smartphones and computers are ubiquitous. It's still hard for me to see how that makes up for a lot of the above and can definitely understand why the younger generation is pissed off and supporting non-traditional candidates like Bernie and Trump.

 

I agree with many points you made but not the last one that I bolded. The younger generation is not supporting Trump. Look at the poll breakdowns. Trump polls poorly in the younger demographic.

 

For example, here's the latest CNN poll

http://i2.cdn.turner.com/cnn/2016/images/08/01/2016.post-dem.convention.pdf

 

Under 45: Clinton 63%, Trump 30%

Over 45: Clinton 44%, Trump 48%

 

This poll is not an outlier. I've seen similar generational breakdowns in other polls.

 

 

[dwy000]

I take issue with this statement. While I see what you mean in terms of technological development, advances in certain fields, etc., it's estimated that millenials will be the first generation in a long while to NOT be better off than their parents on average.

 

Millenials are graduating in a world that demands they go to college at an exorbitant cost, take on tens of thousands in debt to do so, to be eligible for jobs that are highly competitive and barely pay better than the $15/hr demanded by fast food workers who don't need degrees, just so they can become "contributing members of society"/tax payers which means they are immediately on the hook for carrying the rest of the country with their income taxes by taking.

 

Further, tax rates are at historical lows while deficit and debt are at historic highs. Any millennial with a brain can see that the likely trajectory in taxes is up even while the likely trajectory of benefits for our generation is down (social security being nonviable, growing health care costs to be carried publicly, deleveraging of public balance sheet at some point given the 100k/tax payer balance at the moment, etc.).

 

Millenials are looking at more debt (personal and public), higher taxes, more expensive housings/cars/etc., lower social benefits, lower incomes,  and lower investment returns going forward. On top of that, very little of this was their fault (other than maybe student loan balances). This is all the consequences of decisions made by those representing their parents and grand parents.

 

Sure we have smartphones and computers are ubiquitous. It's still hard for me to see how that makes up for a lot of the above and can definitely understand why the younger generation is pissed off and supporting non-traditional candidates like Bernie and Trump.

 

I agree with many points you made but not the last one that I bolded. The younger generation is not supporting Trump. Look at the poll breakdowns. Trump polls poorly in the younger demographic.

 

For example, here's the latest CNN poll

http://i2.cdn.turner.com/cnn/2016/images/08/01/2016.post-dem.convention.pdf

 

Under 45: Clinton 63%, Trump 30%

Over 45: Clinton 44%, Trump 48%

 

This poll is not an outlier. I've seen similar generational breakdowns in other polls.

 

I think those numbers are just as extreme (if not more) when you look by education.  People with post-secondary degrees are even more tilted away from Trump.

[TwoCitiesCapital]

I take issue with this statement. While I see what you mean in terms of technological development, advances in certain fields, etc., it's estimated that millenials will be the first generation in a long while to NOT be better off than their parents on average.

 

Millenials are graduating in a world that demands they go to college at an exorbitant cost, take on tens of thousands in debt to do so, to be eligible for jobs that are highly competitive and barely pay better than the $15/hr demanded by fast food workers who don't need degrees, just so they can become "contributing members of society"/tax payers which means they are immediately on the hook for carrying the rest of the country with their income taxes by taking.

 

Further, tax rates are at historical lows while deficit and debt are at historic highs. Any millennial with a brain can see that the likely trajectory in taxes is up even while the likely trajectory of benefits for our generation is down (social security being nonviable, growing health care costs to be carried publicly, deleveraging of public balance sheet at some point given the 100k/tax payer balance at the moment, etc.).

 

Millenials are looking at more debt (personal and public), higher taxes, more expensive housings/cars/etc., lower social benefits, lower incomes,  and lower investment returns going forward. On top of that, very little of this was their fault (other than maybe student loan balances). This is all the consequences of decisions made by those representing their parents and grand parents.

 

Sure we have smartphones and computers are ubiquitous. It's still hard for me to see how that makes up for a lot of the above and can definitely understand why the younger generation is pissed off and supporting non-traditional candidates like Bernie and Trump.

 

I agree with many points you made but not the last one that I bolded. The younger generation is not supporting Trump. Look at the poll breakdowns. Trump polls poorly in the younger demographic.

 

For example, here's the latest CNN poll

http://i2.cdn.turner.com/cnn/2016/images/08/01/2016.post-dem.convention.pdf

 

Under 45: Clinton 63%, Trump 30%

Over 45: Clinton 44%, Trump 48%

 

This poll is not an outlier. I've seen similar generational breakdowns in other polls.

 

I think those numbers are just as extreme (if not more) when you look by education.  People with post-secondary degrees are even more tilted away from Trump.

 

I don't disagree, but defining young people as those "under 45" is sweeping with a very large brush. Maybe filtering down to a demographic of 18-lower/mid 30s would be more appropriate to capture the individuals I was referencing.

 

And of course, not necessarily all of them are supporting Trump, but a lot of them aren't supporting Hillary either. It may just be they feel forced to choose between one or the other. I know that my facebook feed is full of Bernie supporters who still trash Hillary. I don't know exactly what they'll do when it comes to vote, but they have a few options:

1) vote Hillary, the "anti-Bernie"

2) vote Trump (probably even worse than Hillary in their minds)

3) Don't vote or

4) vote 3rd party

 

When you have polls that remove those last two options that would arguably carry the majority of that group, and leave the two most unfavorable, you're obviously going to get skewed results among a number of people. And I don't know how it shakes out nationally, but a lot of my friends from traditional Southern/Republican districts definitely support Trump - and they're college educated.

[adesigar]

 

I think those numbers are just as extreme (if not more) when you look by education.  People with post-secondary degrees are even more tilted away from Trump.

 

And there I believe is the problem.

 

I would any day prefer Clinton over Trump. I absolutely agree with Buffett on Trump and I'm fine with the Trump and Clinton bashing. BUT everyone here bashing Trump voters needs to think about who is voting for Clinton vs Who is voting for Trump and Why. Its easy to look at statistics and say people are living better. But remember when someone like Buffett compares how people are living they compare across generations and how the parents lived. When the average person compares he compares against the last few years and he compares himself to the others in the city/state/country. There are a lot of places in the U.S that haven't recovered. The country is moving to a service economy and left the manufacturing states behind. Just because the stock market is up doesn't mean people are living better than before the 2008 crash. When people are living paycheck to paycheck or living in debt or about to lose their home, job etc They really don't care about foreign policy(Ukraine/Europe/Asia) etc. They are angry at being left behind. They watched Wall Street rob them and not a single person went to jail for it while their communities got destroyed and they got ignored in the recovery. Its easy to judge the Trump Voters but we haven't lived in their shoes the last few years.

[Jurgis]

Adesigar,

 

I understand somewhat why average voters may vote for a populist, nationalist, racist candidate with simple "solutions" that are not implementable and don't solve anything.

 

I've seen this firsthand in other places.

 

I think the results for average voters if Trump wins will be just as disappointing as they've been in other places that elect such populist candidates. In (best?) neutral case, this leads to disenchantment with the populist hero and possible jump to another one next election. In the worst case, it leads to breakdown of democracy and installation of totalitarian regimes. Let's hope we don't get there.

 

Unfortunately, I don't know a good solution how to persuade such voters that their choice is wrong. Yes, usually they are disenchanted by mainstream politics and politicians and they think that changing to populist outsider is a simple solution. Persuading them otherwise requires both extensive education and positive results from mainstream political machine. Some kind of economic upturn also usually works - people usually attribute that to government somewhat and tend to less likely vote for extreme candidates.

 

I don't change my opinion about CoBF Trump proponents though. They are knowledgeable and educated. They should know better. If they decide to support a candidate whose only competence is relentless self promotion and who bases his campaign on nationalist and racist demagoguery, it's shame on them.

 

 

Edit: Aside: I wonder if Koch brothers will propose any workable plans for dealing with income inequality and if they can make their Republican candidates accept these plans and platforms. I don't hold my breath, but if they did, this might be a good direction for congress/senate, government and country.

[Parsad]

I take issue with this statement. While I see what you mean in terms of technological development, advances in certain fields, etc., it's estimated that millenials will be the first generation in a long while to NOT be better off than their parents on average.

 

My nieces, nephews, their friends are all millenials.  They are all in a better position than I was at their age.  While cost of housing is higher for all of them, they have better quality jobs, benefits and prospects than I did.  They have cheaper access to capital.  They have better medical, dental and general healthcare.  They have better access to information, technology, air travel and personal freedoms.  Their mixed race friends that are couples don't face past prejudices and their gay friends don't worry about being beaten while walking home at night.  Expenses outside of housing are actually generally more affordable than in past generations such as food costs, utility costs, automobile costs, etc. 

 

Millenials are graduating in a world that demands they go to college at an exorbitant cost, take on tens of thousands in debt to do so, to be eligible for jobs that are highly competitive and barely pay better than the $15/hr demanded by fast food workers who don't need degrees, just so they can become "contributing members of society"/tax payers which means they are immediately on the hook for carrying the rest of the country with their income taxes by taking.

 

The United States, as well as Canada, actually has more opportunity in science, technology, healthcare today than any other period in the last 50 years.  With the boomers retiring en masse, millenials will have access to a dearth of jobs as teachers, police officers, doctors, dentists and especially tradespeople.  My nieces and nephews are all leaving university or college with jobs or decent prospects.

 

Further, tax rates are at historical lows while deficit and debt are at historic highs. Any millennial with a brain can see that the likely trajectory in taxes is up even while the likely trajectory of benefits for our generation is down (social security being nonviable, growing health care costs to be carried publicly, deleveraging of public balance sheet at some point given the 100k/tax payer balance at the moment, etc.).

 

This is true.  Doesn't negate the higher quality of life they will enjoy and the longevity that will exceed ours.

 

Millenials are looking at more debt (personal and public), higher taxes, more expensive housings/cars/etc., lower social benefits, lower incomes,  and lower investment returns going forward. On top of that, very little of this was their fault (other than maybe student loan balances). This is all the consequences of decisions made by those representing their parents and grand parents.

 

Disagree on the lower social benefits, lower incomes and lower investment returns.  The last five years were some of the best returns the market has ever seen and it won't be the last.  Millenials are also about to benefit from the largest transfer of wealth in history as they inherit from their parents and grandparents.

 

Sure we have smartphones and computers are ubiquitous. It's still hard for me to see how that makes up for a lot of the above and can definitely understand why the younger generation is pissed off and supporting non-traditional candidates like Bernie and Trump.

 

If you watch old episodes of "All in the Family" or "Good Times", you would think that the world would have run out of food by 1999 and that domestic political turmoil/protests/riots would never end.  The country goes through cycles, where bombastic candidates like Trump fuel voter's fears, and the country has gone through a period of turmoil, either economic or political, including unsuccessful foreign policy.  This is a replay of the late 60's and early 70's.  A generation that thought things would never get better, yet they had one of the greatest periods of success in history...the Boomers!  The Millenials may worry in the same way, but everything points to them having as good a life or better in the future.  Cheers! 

 

[Jurgis]

+1 good post Parsad.

[EliG]

Trump makes light of military sacrifice AGAIN when veteran gives him his Purple Heart

 

Donald Trump may have driven an even larger wedge between military veterans and his presidential campaign on Tuesday with an offhand comment in the midst of an otherwise touching moment with a military veteran.

 

While telling the story of a lieutenant colonel who presented him with his Purple Heart medal as a vote of confidence, Trump quipped: 'I always wanted to get the purple heart. This was much easier.'

 

 

 

 

[ScottHall]

What I hear in this thread is a bunch of malarkey from would-be elite blowhards. Real America is hurting and Donald Trump is the only man who can save us now.

 

I am officially endorsing Donald Trump for President.

 

https://www.youtube.com/watch?v=kLt-0vLPZ3Q

[tombgrt]

What I hear in this thread is a bunch of malarkey from would-be elite blowhards. Real America is hurting and Donald Trump is the only man who can save us now.

 

I am officially endorsing Donald Trump for President.

 

https://www.youtube.com/watch?v=kLt-0vLPZ3Q

 

Comedy Gold.

 

 

 

 

 

 

 

 

 

 

 

 

I guess.