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Buffett wrote: “We also were very lucky in 2007, the second year in a row free of major insured catastrophes.
“That party is over. It’s a certainty that insurance-industry profit margins, including ours, will fall significantly in 2008.”
Barry ORegan
Burnaby, British Columbia, Canada
ebloch
Gainesville, Florida, United States
Most RecentMost Recommended Comments (1)
at 07:15 on March 2nd, 2008
Buffet certainly knows his economy. His comments certainly speak volumes in a stance all Americans have taken to heart, Boeing in Seattle
just lost out on a 23 billion dollar (Or so) U.S. Defence contract and the resulting 100 billion dollar maintenance contract to
Airbus in France, leaving many Americans, including Boeing workers and
their unions to wonder why they pay taxes, especially when those taxes
are used to prop up an already ailing airline industry, and a spendy American Military, which results in Americans not only losing
their jobs to a foreign power, but their economy as well. With Hillary and Obama stating they
want to revisit the NAFTA contract versus not even a retort against massive job losses from large scale Asian manufacturing and Asian trade
with the U.S. will only further add to the fear mongering in protecting
American jobs and economy. U.S. Policitians will never force an embargo against Asian Manufacturing and Trade since most U.S. Banks and U.S. Economy are for the most controlled by Asian and Foreign powers whose recent cash infusion by Asian Money markets to buy failed Banks, lending institutions brought on by the subprime markets swindle because of greed from U.S. Banks and Stocks institutions will certainly sway Politicians from saying anything negative against those in foreign lands whose deep pockets control most of the U.S. Canada on the other hand has little political power or ownership in American businesses or financial institutions so it is easy to lambast Nafta which is a blip on the American manufacturing radar, such as softwood lumber when compared to the big scheme of things.
If Hillary and Obama were elected today, it is a given this Airbus contract still would have gone through despite their Pro America Stance. This is expecially true of Clinton, whose husband under hos watch let a similar contract slip to Airbus in 2000, even when it was reported that a higher up in the National Defence who controlled the contract award and a foreign Aircraft manufacturer were in cahoots to ensure America didn't get the contract. American voters certainly learned on thing in all this past and present, voting for the Left Wing or Right Wing doesn't matter when both wings are still attached to the same bird of prey.
This fiasco wasn't invented by President George Bush, but by all previous administrations as well.
I am sure we all remember in the 1980's when the U.S. Defence Department was purchasing $800.00 Toilet seats for their aircraft and $6.00 screws, all which could be purchased locally for $14.00 and 0.01 cent respectively at any local American hardware store. The ones to blame are the American people for not speaking with their votes enmasse and outrage sooner.