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I wish this editorial had more detail, but it was written for a general purpose newspaper. He does not say anything people don't already know, but it's still an interesting read, and he does have influence.
The idea of inflation being somewhat deliberate, the easiest political path to take, the default path, is interesting.
it is impossible to take anything buffett says seriously. he says to buy american and then invests in chinese batteries. he was all for the bailout when it benefited him, but now he wants fiscal restraint. he badmouthed derivatives, yet invested in them. he whines about not paying enough taxes, but never actually writes a check. i am sure that he will be writing a piece on how great cap and trade is for america since he will personally benefit. buffett looks out for buffett, usually with the help of the government.
an interesting TARP buffett/ government story:
Bloomberg has a story out comparing the investment terms achieved by TARP with those achieved by Warren Buffett when he invested $5 billion in Goldman back in September. The results aren’t pretty for the U.S. taxpayer: the government received warrants worth $13.8 billion in connection with its 25 largest equity injections; under the terms Buffett got from Goldman, those warrants would be worth $130.8 billion. (The calculations were done using the Black-Scholes option pricing formula, which has its critics, but which I think is still a good way of estimating the relative difference between similar options.) That’s on top of the fact that TARP is getting a lower interest rate (5%) on its preferred stock investments than is Buffett (10%), which costs taxpayers $48 billion in aggregate over 5 years, according to Bloomberg. The difference in the value of the warrants themselves is due to two factors: (1) Treasury got warrants for a much smaller percentage of the initial investment amount; and (2) those warrants are at a higher strike price – the average price over the 20 days prior to investment, while Buffett got a discount to market price on the date of investment.
he also got 224 million from my state (florida) on a hurricane "bet".
well, buy american should mean buy american, not chinese! we are in a fiscal crisis and the same jerks that we bailed out with taxpayer money are now using that money to invest in other "emerging" economies. by writing a check, i mean he can get out his checkbook and write a check to pay more taxes anytime he wants to, but evidently he doesn't REALLY want to!
i seriously doubt that buffett will be impacted no matter what happens because of his cozy (as pointed out in previous post) relationship with the government.
all of these "global" economy people are willing to do it on the backs of american workers. why can't they see that wall street has not actually made money in 10 years and that is why we had to have a taxpayer bailout. we now have government pension funds doubling down to try to keep up the illusion yet eventually there will be an inflation tax to pay for their miscalculations, although we are not out of the world depression yet! these same "geniuses" still push for a global agenda, without a care in the world for the impact on ordinary people. look what they did to iceland, but i am glad iceland is fighting back!
Looks like the Oracle of Omaha has figured out that Obama does not walk on water after all.
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