A good buddy of mine tipped me off on this topic, so I thought I would muse on it.
Warren Buffett. The Oracle of Omaha. The guy that wants to pay more taxes. The most successful investor in the world. (Doesn't know capital gains from income - but hey, I guess he has people that worry about that for him!) Doesn't carry a cell phone or have a computer at his desk.
Noted philanthropist and frugal spendthrift, Buffett drives an older model sedan, nothing flashy - and a big treat for him is going out to the local DQ for a cone. Lives in the same house on the same street as he has for 50 years. Plays bridge for fun. Frugality all the way.
So given his business acumen, his obvious ability to judge character and business competence - why on earth would he want to "give" more money to gov't? Is it a good "investment"?
I mean would you invest your money in a company that has no control over it's spending? Has a temporary, part-time board of directors (elected officials) made up of buffoons and blowhards that have no experience in running a business? Creates ponzi schemes to inflate revenue projections?(Medicare), has at least 500 bosses? (Congress and Senate), cannot focus on one line of business, has not adhered to a budget or even a budget process in over 200 years?
Makes ALL decisions via committee? Has had special deals with their "suppliers" (unions and public sector unions) that grossly inflate the cost of input items in return for a kickback (promise of votes)?Whose stock price (currency value) has plummeted almost 50% despite having a monopoly in their market segment? Has shoddy and suspect accounting practices? Wastes, or just plain misplaces, billions if not trillions of dollars per year of investor funds?
Would this be the kind of investment that a prudent, rational, experienced business legend like Buffett would advocate putting his own money in? Would you put YOUR own money into it?
I'm not competent enough to even carry Buffett's Dairy Queen tray, but Warren - stay away from this turkey. There is no upside to this investment. Try something less risky.
Like slot machines. You might at least enjoy money well wasted. Might be more fun than bridge.
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