[rocket science]

Br. Buffet had another good one in 2002 as well.

Following are edited excerpts from the Berkshire Hathaway annual report for 2002.

The derivatives genie is now well out of the bottle, and these instruments will almost certainly multiply in variety and number until some event makes their toxicity clear. Central banks and governments have so far found no effective way to control, or even monitor, the risks posed by these contracts. In my view, derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal.

This was quoted as recently as Jan 2008 with respect to credit default swaps in a LA times article on the economy.

[rocket science]

Br. Buffet had another good one in 2002 as well.

Following are edited excerpts from the Berkshire Hathaway annual report for 2002.

The derivatives genie is now well out of the bottle, and these instruments will almost certainly multiply in variety and number until some event makes their toxicity clear. Central banks and governments have so far found no effective way to control, or even monitor, the risks posed by these contracts. In my view, derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal.

This was quoted as recently as Jan 2008 with respect to credit default swaps in a LA times article on the economy.

[rocket science]

Br. Buffet had another good one in 2002 as well.

Following are edited excerpts from the Berkshire Hathaway annual report for 2002.

The derivatives genie is now well out of the bottle, and these instruments will almost certainly multiply in variety and number until some event makes their toxicity clear. Central banks and governments have so far found no effective way to control, or even monitor, the risks posed by these contracts. In my view, derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal.

This was quoted as recently as Jan 2008 with respect to credit default swaps in a LA times article on the economy.

[rocket science]

Br. Buffet had another good one in 2002 as well.

Following are edited excerpts from the Berkshire Hathaway annual report for 2002.

The derivatives genie is now well out of the bottle, and these instruments will almost certainly multiply in variety and number until some event makes their toxicity clear. Central banks and governments have so far found no effective way to control, or even monitor, the risks posed by these contracts. In my view, derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal.

This was quoted as recently as Jan 2008 with respect to credit default swaps in a LA times article on the economy.

[rocket science]

Br. Buffet had another good one in 2002 as well.

Following are edited excerpts from the Berkshire Hathaway annual report for 2002.

The derivatives genie is now well out of the bottle, and these instruments will almost certainly multiply in variety and number until some event makes their toxicity clear. Central banks and governments have so far found no effective way to control, or even monitor, the risks posed by these contracts. In my view, derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal.

This was quoted as recently as Jan 2008 with respect to credit default swaps in a LA times article on the economy.

[rocket science]

It is funny, the LA Times guy sold in April of 2005.

I was cleaning my office and came across a LA Times front page section I had saved in May of 2005.

Right there on the front page was an article:

 “It’s Not a Bubble Until It Bursts”·  Although ignoring real estate bears has been profitable lately, doom is again on some lips.By David Streitfeld, Times Staff Writer The chief economist for the Mortgage Bankers Assn. is worried enough about the torrid housing market to get out of it.

"I'm going to rent for a while," said Douglas Duncan, who expects "significant reversals" in regions that have enjoyed strong home price appreciation, including Washington, D.C., Florida and California. He plans to sell his suburban Washington home, which has tripled in value since he bought it a dozen years ago, and move into an apartment.Duncan is among a multitude of experts and consumers across the country debating the possibility of a housing bubble — a condition where prices have risen so far out of hand that they eventually crash 

http://www.phuthopoly-educaid.org/S65.doc

[rocket science]

It is funny, the LA Times guy sold in April of 2005.

I was cleaning my office and came across a LA Times front page section I had saved in May of 2005.

Right there on the front page was an article:

 “It’s Not a Bubble Until It Bursts”·  Although ignoring real estate bears has been profitable lately, doom is again on some lips.By David Streitfeld, Times Staff Writer The chief economist for the Mortgage Bankers Assn. is worried enough about the torrid housing market to get out of it.

"I'm going to rent for a while," said Douglas Duncan, who expects "significant reversals" in regions that have enjoyed strong home price appreciation, including Washington, D.C., Florida and California. He plans to sell his suburban Washington home, which has tripled in value since he bought it a dozen years ago, and move into an apartment.Duncan is among a multitude of experts and consumers across the country debating the possibility of a housing bubble — a condition where prices have risen so far out of hand that they eventually crash 

http://www.phuthopoly-educaid.org/S65.doc

[rocket science]

It is funny, the LA Times guy sold in April of 2005.

I was cleaning my office and came across a LA Times front page section I had saved in May of 2005.

Right there on the front page was an article:

 “It’s Not a Bubble Until It Bursts”·  Although ignoring real estate bears has been profitable lately, doom is again on some lips.By David Streitfeld, Times Staff Writer The chief economist for the Mortgage Bankers Assn. is worried enough about the torrid housing market to get out of it.

"I'm going to rent for a while," said Douglas Duncan, who expects "significant reversals" in regions that have enjoyed strong home price appreciation, including Washington, D.C., Florida and California. He plans to sell his suburban Washington home, which has tripled in value since he bought it a dozen years ago, and move into an apartment.Duncan is among a multitude of experts and consumers across the country debating the possibility of a housing bubble — a condition where prices have risen so far out of hand that they eventually crash 

http://www.phuthopoly-educaid.org/S65.doc

[rocket science]

It is funny, the LA Times guy sold in April of 2005.

I was cleaning my office and came across a LA Times front page section I had saved in May of 2005.

Right there on the front page was an article:

 “It’s Not a Bubble Until It Bursts”·  Although ignoring real estate bears has been profitable lately, doom is again on some lips.By David Streitfeld, Times Staff Writer The chief economist for the Mortgage Bankers Assn. is worried enough about the torrid housing market to get out of it.

"I'm going to rent for a while," said Douglas Duncan, who expects "significant reversals" in regions that have enjoyed strong home price appreciation, including Washington, D.C., Florida and California. He plans to sell his suburban Washington home, which has tripled in value since he bought it a dozen years ago, and move into an apartment.Duncan is among a multitude of experts and consumers across the country debating the possibility of a housing bubble — a condition where prices have risen so far out of hand that they eventually crash 

http://www.phuthopoly-educaid.org/S65.doc

[rocket science]

It is funny, the LA Times guy sold in April of 2005.

I was cleaning my office and came across a LA Times front page section I had saved in May of 2005.

Right there on the front page was an article:

 “It’s Not a Bubble Until It Bursts”·  Although ignoring real estate bears has been profitable lately, doom is again on some lips.By David Streitfeld, Times Staff Writer The chief economist for the Mortgage Bankers Assn. is worried enough about the torrid housing market to get out of it.

"I'm going to rent for a while," said Douglas Duncan, who expects "significant reversals" in regions that have enjoyed strong home price appreciation, including Washington, D.C., Florida and California. He plans to sell his suburban Washington home, which has tripled in value since he bought it a dozen years ago, and move into an apartment.Duncan is among a multitude of experts and consumers across the country debating the possibility of a housing bubble — a condition where prices have risen so far out of hand that they eventually crash 

http://www.phuthopoly-educaid.org/S65.doc

[rocket science]

The fact this exists is a sad commentary on personable responsibility, or lack thereof.

rs

[rocket science]

The fact this exists is a sad commentary on personable responsibility, or lack thereof.

rs

[rocket science]

The fact this exists is a sad commentary on personable responsibility, or lack thereof.

rs

[rocket science]

The fact this exists is a sad commentary on personable responsibility, or lack thereof.

rs

[rocket science]

The fact this exists is a sad commentary on personable responsibility, or lack thereof.

rs

[Author]

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