Steve in Greensboro

So, Buffett's a Capitalist - Why So Shocked?

"...It is [Buffett's] hypocrisy that bothers me ..."

Amen, Mr Denninger.

Betrayed By Buffett? No Need to Be Shocked, The Game Is Indeed Rigged

It doesn't bother me that Buffett works the system. What annoys me about Buffett is that he expresses an ideological preference for an immoral death tax regime that he so obviously benefits from.

Buffett thinks confiscatory death taxes. Never mind that death taxes (unless provided for by life insurance) often force the survivors to liquidate a business to pay them.

But it just so happens that he sells life insurance to the small-time entrepreneurs in order to allow the heirs to avoid having to sell the business at fire-sale prices to pay the confiscatory death taxes.

And it also just so happens that Buffett can snap up the businesses at fire-sale prices if they didn't buy his life insurance.

How convenient for the hypocrite!

Buffett's Betrayal

It's been said before but it bears repeating. Buffett is a nasty person and a hypocrite.

He advocates for confiscatory death taxes.

He is in the insurance business, so he benefits when small businessmen are forced to buy life insurance to protect their heirs from having to sell the business to pay these confiscatory death taxes.

He also is an active acquiror of businesses for his portfolio when the heirs have to sell to pay those confiscatory death taxes.

Connect the dots. All of this is intentional.

On Aug 05 05:38 PM stev53e wrote:

> I'm curious - how did his insurance business benefit?

Preview from Europe: Inactive Obama Leads Indices Lower

"...swift delivery of solutions from the Obama administration..."

What kind of solutions are we to expect from a community organizer who never held a real job in his life? I'm expecting more of the same class-warfare garbage we've seen so far (salary caps for bankers, etc.) and that's why I'm not going anywhere near equities until we get a sense of whether 2010 elections will result in a change of control.

There will be no solutions delivered during the next two years, swiftly or otherwise. There will only be disasters which if we are lucky will be delivered only slowly.