Nuclear Attack in USA 'Virtual Certainty'

[Smolek]

His true opinions, trying to influence stock, or just looney ?

Link

Billionaire Predicts Nuclear Attack
Sun May 5,10:28 PM ET
By JOE RUFF, Associated Press Writer

OMAHA, Neb. (AP) - Investment guru Warren Buffett (news - web sites) offered a bleak prediction for the nation's national security, saying a terrorist attack on American soil is "virtually a certainty."

Envy and dislike of the United States have fueled rage against the country even as the ability to build a nuclear device has spread, Buffett said Sunday at the final day of Berkshire Hathaway Inc.'s annual meeting.

"We're going to have something in the way of a major nuclear event in this country," said Buffett, the firm's chief operating officer. "It will happen. Whether it will happen in 10 years or 10 minutes, or 50 years ... it's virtually a certainty."

Washington and New York would be the top two targets because terrorists want to traumatize the country and kill as many people as possible, Buffett said.

Chemical or biological attacks are similarly high risks, Buffett said.

Buffett is the second-richest man in the world with holdings in Coca-Cola Co., American Express and The Washington Post, but his main business is insurance.

Berkshire Hathaway's insurance companies ? particularly General Re Corp. ? took a $2.4 billion underwriting loss because of the Sept. 11 terrorist attacks in New York and Washington.

The companies are now writing policies on terrorism but limiting their liability in any nuclear, biological or chemical attack. Only the federal government can ultimately insure property and other damage from a major terrorist attack, Buffett said.

The 71-year-old Buffett and vice chairman Charlie Munger met with the news media the day after they spent six hours answering questions from some of the more than 10,000 Berkshire shareholders gathered for the annual meeting.

 

[datalink7]

I don't know about the truth of that, but what I do think is that if nuclear weapons start getting used and tossed around, the collective world better bend over and kiss their @$$ goodbye.

 

[lawaris]

<< I don't know about the truth of that, but what I do think is that if nuclear weapons start getting used and tossed around, the collective world better bend over and kiss their @$$ goodbye. >>




I agree

 

[Gonad the Barbarian]

<< but his main business is insurance. >>



Uh huh. This bastard is trying to cause a panic so he can reap the monetary benefits. He ought to be charged with something akin to shouting fire in a crowded theatre.

 

[wnied]

I agree with Gonad(no pun intended)

Taking this yahoos business into account, he should be slapped with a fine or at very least a public reprimand unless he has information the rest of the U.S. doesnt. People like this, whose audience is significantly larger than the average man should show a little responsibility with what they choose to say when addressing these audiences.

~wnied~

 

[PowerEngineer]

<<

<< but his main business is insurance. >>



Uh huh. This bastard is trying to cause a panic so he can reap the monetary benefits. He ought to be charged with something akin to shouting fire in a crowded theatre. >>



Afraid you've got that wrong. Read on a little further...



<< The companies are now writing policies on terrorism but limiting their liability in any nuclear, biological or chemical attack. Only the federal government can ultimately insure property and other damage from a major terrorist attack >>



So if you're afraid he's planning to bilk terrified citizens through increased insurance premiums, then you have nothing to fear.

On the other hand, what he says seems almost inevitable unless we make immediate, substative changes in our foreign policy and stick with them for at least one generation. Of course, that's not going to happen. So be prepared... Wish it weren't so.

 

[Gonad the Barbarian]

<< So if you're afraid he's planning to bilk terrified citizens through increased insurance premiums, then you have nothing to fear. >>



It's not the citizens he's trying to scare, it's the insurance industry. I take it you don't pay for your own insurance. Becuase if you did you'd know premiums have skyrocketed since 9/11. And this fool's comments are going to drive them up even more. And since they DON'T have to pay out if it is nuclear, biological, or chemical related, it's more profit for them and that means his dividend checks just got bigger.

 

[DAPUNISHER]

<< We're going to have something in the way of a major nuclear event in this country," said Buffett, the firm's chief operating officer. "It will happen. Whether it will happen in 10 years or 10 minutes, or 50 years ... it's virtually a certainty."

Washington and New York would be the top two targets because terrorists want to traumatize the country and kill as many people as possible, Buffett said.

Chemical or biological attacks are similarly high risks, Buffett said. >>

These are very broad sweeping statements and we've already suffered a biological attack so that one is a given. Just look at his time frame, come on 50 years

You or I could have easily and as safely made such predictions I see nothing to get excited over based on the intentional ambiquity of such statements.

 

[poopaskoopa]

<< It will happen. Whether it will happen in 10 years or 10 minutes, or 50 years ... it's virtually a certainty. >>


If you ask the right person he'll say the same about this asteroid that's size of Texas. This statement hasn't brought forth any new insights into the issue at hand.

 

[DAPUNISHER]

<<

<< It will happen. Whether it will happen in 10 years or 10 minutes, or 50 years ... it's virtually a certainty. >>


If you ask the right person he'll say the same about this asteroid that's size of Texas. This statement hasn't brought forth any new insights into the issue at hand. >>

Thanks for concuring with me

 

[FoBoT]

<< His true opinions, trying to influence stock, or just looney ? >>



why do you think he's looney?

i think he is right, although i would bet more on the 10-50 year time frame, but i expect it to happen before i die (i'm 36)

 

[exp]

He is right. The US *will* be nuked at some point and the death toll from that attack and the resulting counterstrike will be beyond our comprehension. 9/11 will be blip on the map after that.

 

[d1abolic]

He's right, you know. Countries like Iraq, Iran and North Korea are expected to have nuclear weapons capable of reading the USA by 2015. I'm betting Hussein will push the button as soon as there is a button to be pushed. I'm sure our missle defense will be able to protect us against their nukes though. But if a country like China, Russia, India or Pakistan joins in, we're dead meat. Like someone already said, September 11 is nothing compared to what could happen.

 

[FrancesBeansRevenge]

<< He's right, you know. Countries like Iraq, Iran and North Korea are expected to have nuclear weapons capable of reading the USA by 2015. I'm betting Hussein will push the button as soon as there is a button to be pushed. I'm sure our missle defense will be able to protect us against their nukes though. But if a country like China, Russia, India or Pakistan joins in, we're dead meat. Like someone already said, September 11 is nothing compared to what could happen. >>



So, let's just nuke all non-English speaking countries as a pre-emptive strike.
Sure, it's horrible and a crime against humanity. But, after we did that, who exactly is going to question us?
Just give me the button. I am a sociopath and wouldn't blink while taking out billions of lives.

I am also a compulsive liar.

 

[nihil]

<< I don't know about the truth of that, but what I do think is that if nuclear weapons start getting used and tossed around, the collective world better bend over and kiss their @$$ goodbye. >>



well put. i'd just hate to go out like that, such a stupid way to die.

 

[Shockwave]

Dont worry guys, if I see an errent nuclear device about ready to go off, I'll be the hero and jump on it so the explosion doesnt kill anyone else. "The soldier who jumped on the grenade..."
*sigh* The sacrifices I'll make for my common man...

/end humor

 

[ToBeMe]

<< "It will happen. Whether it will happen in 10 years or 10 minutes, or 50 years ... it's virtually a certainty." >>


This is nothing new...........a lot of people, including military said this a long time ago! Nothing has changed since 9/11 as far as this is concerned. As nuclear capability becomes more readily available the chance of a rogue country or group obtaining some sort of nuclear device is an almost certainty! We were told this back in the 70's in school, in the 80's in the military & college, and as I stated above, nothing has changed except the fact that we are closer to the possibility today than we were then!

 

[Nefrodite]

Saddam's Bombmaker : The Daring Escape of the Man Who Built Iraq's Secret Weapon

 

[TapTap]

<<

<<
Chemical or biological attacks are similarly high risks, Buffett said. >>

These are very broad sweeping statements and we've already suffered a biological attack so that one is a given. Just look at his time frame, come on 50 years

You or I could have easily and as safely made such predictions I see nothing to get excited over based on the intentional ambiquity of such statements. >>



I agree. After all, it would be like saying we will have another "Hurricane Andrew" event in Florida in the next 50 years.

 

[Texmaster]

that jackass. It doesn't do anything for anyone when morons spout their panic talk monday morning quarterbacking.

 

[Mister T]

Ya know, people called warren buffet looney when he refused to buy tech stocks in the 90's when it was the in-thing.
The same people are either crying in bankruptcy or suing a wall street bank for listening to tech sell-side analysts.

Warren Buffet is a stand up man... end of story. He has the absolute highest set of moral standards I have seen in a CEO.
Before you retards start knocking him, why don't you do some research... perhaps read one of his letters to shareholders... you might actually learn something.

 

[UltraQuiet]

<< Warren Buffet is a stand up man... end of story. He has the absolute highest set of moral standards I have seen in a CEO. >>


Agree with all of that. That doesn't however explain or validate why he is talking about a terrorists attack, give him any credibility for doing so or even more importantly why the media is making a story out of it.

 

[Mister T]

<<

<< Warren Buffet is a stand up man... end of story. He has the absolute highest set of moral standards I have seen in a CEO. >>


Agree with all of that. That doesn't however explain or validate why he is talking about a terrorists attack, give him any credibility for doing so or even more importantly why the media is making a story out of it. >>



He is talking about a potential terrorist attack because he underwrites P&C Catastrophe Reinsurance. His job requires that he be cognicent of the potential losses in the event of a catastrophic man-made or natural event. Did you know that Buffet provides reinsurance for the riskiest tranche for the California Earthquake Authority? His business model requires him to take major risks - He needs to charge an appropriate, market clearing price for the protection he provides or else he will go out of business.

 

[Parrotheader]

Like somebody above said, this prediction is hardly new or earth shattering. IF such an event were to occur, some have speculated that it would lead to a great exodus from the major cities and population centers as people instead try to spread out so as not to be part of a possible target. I'm not so sure about that, but even if it happened to some extent it would significantly change the way our economy functions. If things keep going down the present path then at some point, the best defense may be a good offense. That might be why they're already taking about possible future action against Iraq.

 

[GSOYF]

That would be bad