Buffett forgets to thank the American people
Yesterday, the Oracle of Omaha (Warren Buffett) had an op-ed piece in the New York Times thanking the U.S. government for the bailout of the financial system.
The Berkshire Hathaway founder doesn’t go into detail about the costs and benefits of the government’s various rescue efforts. But his piece takes another high-profile step toward bolstering the emerging consensus among experts that the bailout, despite its extreme unpopularity, was in fact remarkably successful — saving the economy for what turned out to be a bargain price. (Yahoo!)
These old billionaires are so cute. In his New York Times piece, Buffet opened by saying that his mother had told him to send the government a ‘thank you’ note. It makes sense that he would be cheerful about the money the government spent to save banks and other companies, after all Buffett’s company, Berkshire Hathaway, owns huge stakes in many of them.
Thank God that no one paid attention to those who argued that propping up a broken system will eventually lead to a much bigger crash down the line, or Mr. Buffett would have lost a ton of money.
It’d be funnier if you knew anything about how economics works.
Precisely my thoughts.
you know what is is funny; when people who purport to understand how the “economy” works think the “economy” is the “only” way the “world” works – like listening to people preach a new, perfected religion… now that is funny.
You probably wouldn’t be so snide if you knew more about history.
….Owned
Ah this one was a good diaphragmatic breathing-reading exercise! *clap*clap*
from here: “These old billionaires are so cute. In his New York Times piece, Buffet opened by saying that his mother had told him to send the government a ‘thank you’ note. It makes sense that he would be cheerful about the money the government spent to save banks and other companies, after all Buffett’s company, Berkshire Hathaway, owns huge stakes in many of them.” to here;)
yup, cuz a faith based economy where the fact is, all “money” is actually worthless, really works. i love how some people think they’re economists and like to down others, when its all just opinions. fact is, the system failed, because the rich have to much power and we have to little. that simple. we put to much faith in paper. and we give to much to the scumbags who have horded it. Personally, I cant wait til it fails completely and all the wealthy are as broke as everyone else and the only purpose paper money will serve IS BURNING IT TO KEEP WARM.
Burning money is noble. It is a cancer to many things, among which human relationships.
Tell that to KLF who burned 1 million pounds (of their own money) in the sake of art and then went “Oh f**k!” A few years later… not because they burned the money but because they forgot to do camp-fire songs and roast marshmallows.
The KLF liked sheep. :)