the septenary (diapholom) wrote,
the septenary
diapholom

  • Music:

What's a saddle?

\

BUFFETT: I THINK THE DOWN SIDE IS COMING UP WITH...I DON'T THINK THE STIMULUS IS NECESSARILY GOING TO DO AN ENORMOUS AMOUNT OF GOOD. IN FACT, I THINK MOST PEOPLE WHEN THEY GET IT REALLY SHOULD PAY DOWN THEIR CREDIT CARDS IF THEY OWE MONEY THAT. BUT YOU CAN, YOU KNOW, INSTEAD OF WRAPPING $600 IN THE SKY YOU CAN DROP $6,000 INTO THE SKY BUT IT HAS CONSEQUENCES LATER ON IN THE INFLATIONARY AERA. SO I THINK YOU HAVE TO BE A LITTLE CAREFUL ABOUT DROPPING MONEY ON PEOPLE IN THE ECONOMY.

QUICK: SO YOU DON'T THINK THAT WHAT WE'VE ALREADY DONE --

BUFFETT: HAVE YOU CHANGED YOUR HAIR, HANK?

QUICK: A LITTLE BIT. YOU DON'T THINK IT'S A GOOD IDEA, TO SEND OUT THE CHECKS WE'VE JUST STARTED SENDING OUT LAST WEEK?

BUFFETT: IT'S GOT PLUSES AND MINUSES. YOU CAN OBVIOUSLY STIMULATE AN ECONOMY BY MAILING MONEY TO PEOPLE. AND YOU WANT TO MAIL THEM $6,000 YOU'LL GET MORE STIMULUS THAN $600. BUT IT CAN'T BE A FREE LUNCH, IN TERMS OF MONETARY POLICY AND THE EVENTUAL ECONOMIC CONSEQUENCES. AND I DON'T THINK -- I THINK YOU WANT TO BE CAREFUL USING THAT TOOL.

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