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<table border="0" cellpadding="3" cellspacing="1" width="100%" class="forumline"> <tr> <th class="thCornerL" width="22%" height="26">Author</th> <th class="thCornerR">Message</th> </tr> <tr> <td width="22%" align="left" valign="top" class="row1"><span class="name"><a name=""></a><b>Stop the Whining</b></span></td> <td class="row1" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Thu, Jun 26 2008, 1:24 pm EDT<span class="gen"> </span> Post subject: Re: Warren Buffett Tells CNBC U.S. Inflation is "Exploding"</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">Maybe we should conserve a little bit? <br /> <br />Apparently oil prices which is driving everything are still not high enough. Why you may ask? Well, there are still plenty of people who sit in their cars idling away with no reason. <br /> <br />When will we learn how to conserve? <br /> <br />That being said, maybe we should take some responsibility instead of relying on the Fed's and Mr. Buffett. But people can't be inconvenienced.</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row2"><span class="name"><a name=""></a><b>Guest</b></span></td> <td class="row2" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Wed, Jun 25 2008, 12:36 pm EDT<span class="gen"> </span> Post subject: Warren Buffett Tells CNBC U.S. Inflation is "Exploding"</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">Warren Buffett Tells CNBC U.S. Inflation is "Exploding" <br /> <br />Posted By:Alex Crippen <br /> <br />Warren Buffett says inflation in the U.S. is "exploding" and he urged the Federal Reserve not to signal in any way that controlling prices is a secondary goal to encouraging economic growth. "Inflation is really picking up. Whether it's steel or oil, we see it every place," Buffett said of rising prices. <br /> <br />Buffett made his comments in a live interview with Becky Quick on CNBC's Power Lunch. <br /> <br />He also dismissed suggestions that "speculators" are responsible for the high price of oil, saying energy prices are being driven solely by supply and demand. <br />... <br /><a href="http://www.cnbc.com/id/25369551" target="_blank">http://www.cnbc.com/id/25369551</a> <br />------------- <br /> <br />LIVE BLOG: Warren Buffett's Power Lunch Interview <br /> <br />This is a live blog of Warren Buffett's interview with Becky Quick on CNBC's Power Lunch, Wednesday, June 25, 2008. <br /> <br />All times eastern. <br /> <br />12:15p: The interview has ended. <br /> <br />12:14p: Asked if he would consider running for office, Buffett said he "would go Sherman one better" and totally dismissed any idea of standing for any elected office. <br /> <br />12:13p: What will he talk about at lunch with the high bidders? A: Since they paid $650,100, they can ask about anything they want (except what he's buying and selling.) <br /> <br />12:13p: No one wants to pay higher taxes, but it's Congress' job to do what's fair, and Buffett thinks it would be fairer if the super-rich paid more in taxes. <br /> <br />12:11p: Buffett repeats his callf or higher taxes on the super-rich and less reliance on the middle class. He wants a "major overhaul" in the payroll tax. <br /> <br />12:10p: Buffett says it's "very hard" to have windfall taxes on oil, or anything, for that matter. He doesn't think it makes a lot of sense to tax anyone because they have a commodity that's gone up in price. <br /> <br />12:09p: Buffett thinks money will be a "non-issue" in the presidential campaign as both sides have plenty of funding. <br /> <br />12:08p: Buffett says he hasn't talked to anyone at all about InBev's bid for Anheuser-Busch <br />ANHEUSER BUSCH COS INC <br />BUD <br /> <br />61.85 0.72 +1.18% <br />NYSE <br />Quote | Chart | News | Profile <br />[BUD 61.85 0.72 (+1.18%) ], discounting reports that he favors one side or the other. (Berkshire Hathaway has a big stake in BUD.) He says it's an "interesting spectactor sport" but he's not taking sides, yet. <br /> <br />12:06p: Buffett says high oil prices are the result of "supply and demand", not speculators. He says there isn't excess capacity anymore, and that's driving prices higher. Even if oil futures stopped trading altogether, Buffett doesn't think it would affect the price of energy very much. <br /> <br />12:06p: Buffett doesn't blame the Fed for the weak dollar. He again says its the result of U.S. trade policy, and if that policy isn't changed, the dollar will continue to get weaker. <br /> <br />12:05p: Buffett says his businesses see weakness in everything concerning the consumer and housing, and it's getting worse. <br /> <br />12:04p: Buffett sees inflation everywhere - it's "exploding" even as the economy get weaker. <br /> <br />12:03p: Buffett says the Federal Reserve should be concerned about both rising prices and slowing growth because both are happening right now. He's glad he doesn't have Ben Bernanke's job. <br /> <br />12:02p: First question is about the Glide Foundation, which is the beneficiary of the charity lunch. Buffett describes the organization in San Francisco, which helps the poor and homeless. <br /> <br />12:01p: Becky begins the interview with Buffett at New York's Smith & Wollensky Steakhouse restaurant. <br /> <br />11:52a: The interview with Warren Buffett is scheduled to begin just after 12p. Buffett is in New York to host a "power lunch" with the high bidders in last year's Lunch with Warren charity auction. Investors Mohnish Pabrai and Guy Spier paid $650,100 for the invite. The money goes to San Francisco's Glide Foundation. <br /> <br /><a href="http://www.cnbc.com/id/25369548/site/14081545/" target="_blank">http://www.cnbc.com/id/25369548/site/14081545/</a></span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> </table>
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