On March 7, we asked where were the Democrat Wise Men when they were sorely needed by an obviously bumbling and clueless administration that was killing the market. On March 9 Warren Buffett said this on CNBC, as noted by Mickey Kaus and others (it is not an encouraging sign that Buffett had to do this on TV rather than merely in private conversations with the administration):

job one is to win the war, job — the economic war, job two is to win the economic war, and job three. And you can’t expect people to unite behind you if you’re trying to jam a whole bunch of things down their throat. So I would — I would absolutely say for the — for the interim, till we get this one solved, I would not be pushing a lot of things that are — you know are contentious…

it’s an economic war, and — I don’t think anybody on December 7th would have said a `war is a terrible thing to waste, and therefore we’re going to try and ram through a whole bunch of things and — but we expect to — expect the other party to unite behind us on the — on the big problem.’ It’s just a mistake, I think

Perhaps it’s just a coincidence, but Buffett’s pointed criticism of the Obama administration’s economic plans coincided almost precisely with the recent market bottom. (It was also around this time that Obama’s polls tanked and other establishment Democrats started openly criticizing Obama’s plans — some on the Left using harsh words indeed.) We think it is a pretty good bet that at least part of the market’s recent recovery is due to a growing sense that the administration is not going to get a free ride on its sprawling and outrageous initial plans. We’ll just have to wait and see what comes next.

This entry was posted on Friday, March 27th, 2009 at 8:11 am and is filed under business, Democrats, General. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.