Warren Buffett's Full Interview with CNBC (Video)

Buffett Watcher on ‘Oracle of Omaha’

Jeff Matthews, “Secrets in Plain Sight: Business and Investing Secrets of Warren Buffett” author, discusses Buffett’s views on the economy and investing in Berkshire Hathaway.

Bowles: Going Over Fiscal Cliff Could Cause Recession

Discussing what will happen if the U.S. goes off the so-called fiscal cliff, with Warren Buffett, Berkshire Hathaway CEO,former Sen. Alan Simpson, (R-WY); and Erskine Bowles, former chief of staff to President Clinton.


we’ll hear from google next week so we’ll get some answers.and alan simpson, i got him to say that 50% was in someeuropean countries, once i want gets above 50 he would have aproblem with it but 50% — 50%? 50, 5-0. everybody ran with this interview yesterday because he said our ideas were zombies and disparaged all of cnbc and our macroeconomics.no one led with him saying that 50% was an acceptable level.but he also said — he favors a free market welfare state is what he favored but can you imagine someone saying that 50% is an acceptable level? run with 21 from this interview. no higher than 21. that’s unanimous. no higher than 21? we can do 21. we can do 21 and, you know, there will be certain years in the future because business is cyclical. that’s why you have to get itdown. it’s harder now because of the ageing of the population to get to it 21 but can you. you have to work at it but you can get to 21. if you’re really serious. would there be any negativeconsequences for 50%? yeah. i know, it’s laughable. and yet — it’s laughable. i know. can i throw one more out there real quick. larry summers came on this broadcast, talked about, since the cost of a loan to right now, interest rates are so low we should move forward, spend a lot of money on projects that we would otherwise have to do in the next 10, 20, 30 years.given what you’ve talked about today, have you had a chance toread that or see what he had to say. what do you think? look, i’m spending for spending money we spend today more wisely.i could give you lots of examples, having run a university, having worked in state government, having worked in the federal government. you know, it’s a little bit like this guy who was the nobel prize winning scientist who said his nobel project was running out money. he turned to his team we’re running out of money now we have to start thinking. that’s what we got to do.we’re running out of money we got to start thinking and maketough choices, tough political choice. we can do it. the way to get to 18.5 or 19 is to get to 18.5 or 19. you can design a plan, joe can design a plan. most people, everybody would be a little unhappy with something but certainly be better than floating alo like we’re doing now. we need something done. the real driver is health care. it doesn’t matter what you call it. forget the obamacare label. you call it elvis presley care. there’s nothing in it that has cost containment. not a thing. people say will it will happen. it won’t happen. and the reason is very simple. you’re going have pre-existing conditions of a 3-year-old that will live to be 60. one person in the united states weighs more than the other two. you got diabetes a and b. you got to do some tort reform. you got to do something with docks. 10,000 a day turning 65. hospitals have to keep one set of books instead of two. come on. let’s quit fooling each other. this is absolute madness and this baby is on automatic pilot and will stuck up all the discretionary budget of the united states. so i say to people what do you love? well i love education, i love this, i love that. well, pal, that stuff will be wiped out unless you put thescrews to this system. we said 400 billion we would knock it off and not let it go over 1% of gdp a year. what more can you do?gentlemen, in the commercial break you were joking around and you asked if there wasn’t anybody we haven’t insulted yet.anybody left? we’ll t to think of one. we’ll get to you. if we have not offended you, please write to us. on a serious note, youmentioned at the beginning of the interview that you werelooking for 10 million signatories to sign off. if somebody is interested in getting involved what do you. fixthedebt.org. that’s where we want our people to go. we’re bringing in names there. that is our social media campaign number that we’re going to be launching next week. fixthedebtexamine.org.fixthedebtcampaign.org. when you look out across everything happening, we started this interview erskine you said you think we’ll go off the fiscal cliff. yeah. what happens at that point? i think if they don’t — if they don’t turn around very quickly and fix it shortly thereafter then i think it could be a disaster for the country. 7 trillion worth of economic events. it will have an effect of at least 1.5% decline in gdp next year. that’s enough to put us back into recession. dick durbin kept asking where is the tip point. we don’t have to do it. this is not only the most predictable economic crisis but the most avoidable if we come together, put partisanship aside and pull together. we have 30 seconds left.warren from the market’s perspective if we do go off the fiscal cliff if we don’t how do you — i have — this country works over time. we’ll do the right thing in the end. we just wait until the very end. i until think the luckiest person that’s ever been born in the world is a baby boirn the united states today. i’ll stick with that. i love owning businesses in the united states. we’ll invest $9 billion almost in the united states at berkshire this year. i’m a bull on america. i think we have to run it right. that’s all. i don’t want anybody to get discouraged how this world will turn out because it can to be done. you got people like this working on it. gentlemen, we can’t thank the three of you enough for joiningus this morning and you two gentlemen for all your hard work.mr. buffet, mr. simpson, mr. bowles, thank you very, very much for your time and we hope to check in with you again soon. back to you in studio.

Fixing Deficit Problem ‘Doable,’ Says Bowles

Insight on resolving the U.S. deficit, with Warren Buffett, Berkshire Hathaway CEO,former Sen. Alan Simpson, (R-WY); and Erskine Bowles, former chief of staff to President Clinton. “If Congress doesn’t act, we’ll face the most predictable economic crisis in history,” says Bowles, adding that if he had to bet, “I’d say we are going over the fiscal cliff.”


we get back to becky in sun valley, idaho, with our special debt reduction summit. becky, i came this close to calling it our debt reduction task force. i love and miss jonathan walt, right? it’s really kind of a task force. something that sticks with us, it is.this is a supersized task force. this is the mother of all taskforces, you might say, joe. unknown. oh, i don’t

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