Somebody should put this pandering status quo loving doddering old fool out to pasture.
Buffett may have been a shrewd investor 40 or 50 years ago. He did make a lot of money but his ‘value’ to the economy is pretty marginal. Taking positions in good companies is not the same as creating companies. Buying 10% of AAPL 30 years ago and holding it till today would have made you as rich as Buffett maybe richer but, as President Obama might say, ‘you didn’t build that.”
In any event he more embarrassing than important these days with his fawning over Becky Quick. Its obvious he has no one around him but sycophants or someone would have told him how ridiculous he looks doing it or how getting decorated with cheap medals from Obama does not make him a hero in anyone’s mind but his own.
We can’t have cuts over ten years. We need cuts NOW. 2013. 2014 at the latest. We need SOMEONE to be a Statesman and stand up and tell the truth. We need the FICA tax restored (which was within a whisker of making Social Security financially viable) and we need Medicare wacked to reflect inflation ONLY instead of inflation plus 25%.. We need Medicare given to the States so they can sort out who really needs it and who is playing the system. We need SNAP to stop recruiting full time employed to expand their empire. We need food banks to start checking to see if people are sucking up food for the truly poor or subsidizing SNAP card holders to enable them to buy lobster and steak (which I can’t afford!).
I’m so sick of it I could puke.. And do now and then..
I always thought some of the uber-wealthy went along with higher taxes and liberal-socialist policies as a means of protecting their wealth from the tentacle of gov’t. Donate cash to whoever is in charge. Tell them to leave me alone and I’ll go along with their policies. Just let me keep my cash.
However, I think Mr. Buffett actually believes what he says. That is scary.