Thursday, July 9, 2009

Buffett Losing It?

Has Warren Buffet lost his mind, or is he just afraid of losing more money? Please comment. I would love to hear a few opinions on the subject.

http://www.cnbc.com/id/31831401

It really irks me when very wealthy people encourage the government to take more of every body's money and waste it to "stimulate" the economy so that their own holdings increase in value and he doesn't look like a fallen prophet. You think Warren Buffet doesn't have an ego - think again.

You know, if he thinks the government is an efficient allocator of wealth, if he is not so attached to his status as a rich man (the false humility he projects), then why doesn't he just give it all to the government? He could leave a few million for his heirs and his wife and himself and be the true salvation of the American economy. Perhaps he would even become a global hero.

Oh wait - that would mean he would have to give up fortune and power. Also, it wouldn't be enough. Much easier to encourage the government to do it to others without their consent.

One more thing - he is wrong anyway - a second stimulus won't help, it will just worsen the looming fiscal crisis we are facing.

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