Is Warren Buffet a communist ?


By marcus   Follow   Mon, 21 Jan 2013, 2:57am PST   3,580 views   54 comments   Watch (1)   Share   Quote   Permalink   Like   Dislike (2)  

http://www.marketwatch.com/story/buffett-us-debt-on-its-own-not-a-problem-2013-01-20?link=MW_story_popular

“I would say in a country with $50,000 of GDP per person, that nobody should be hungry, nobody should lack a good education, nobody should be worried about medical care, you know, nobody should be worried about their old age"

Note: that's not 50K per household, it's 50K per person.

Later he says:

what is right about America just totally dwarfs what’s wrong with Washington. 535 people are not going to mess up 315 million over time. I know it.

Vote: Is Buffet a communist ?

Yes

No

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curious2   befriend (4)   ignore (6)   Mon, 21 Jan 2013, 7:01am PST   Share   Quote   Like   Dislike     Comment 15

errc says

Rentier Crony Crapitalist

The thing is, he wasn't always that way. His early success may have been luck, but the crony capitalism didn't start until much later, maybe TARP.

errc   befriend (5)   ignore (3)   Mon, 21 Jan 2013, 7:40am PST   Share   Quote   Like (1)   Dislike     Comment 16

curious2 says

errc says

Rentier Crony Crapitalist

The thing is, he wasn't always that way. His early success may have been luck, but the crony capitalism didn't start until much later, maybe TARP.

http://seekingalpha.com/article/376711-evidence-that-warren-buffett-manipulated-the-silver-market-in-late-1990s

marcus   befriend (5)   ignore (2)   Mon, 21 Jan 2013, 7:43am PST   Share   Quote   Like   Dislike (1)     Comment 17

Thedaytoday says

Spoken by a true bigoted hateful racist wind bag! Jeez. What is wrong with you?

I may soon have to put you on ignore. But for now I just want to bring to your attention the fact that the conjunction for "you are" is you're.

Thedaytoday   befriend (0)   ignore (4)   Mon, 21 Jan 2013, 7:45am PST   Share   Quote   Like (1)   Dislike     Comment 18

marcus says

"you are" is you're.

I am told often. I don' care.

It's optional and irrelevant.

dublin hillz   befriend (0)   ignore (0)   Mon, 21 Jan 2013, 7:52am PST   Share   Quote   Like (1)   Dislike     Comment 19

Yes, he is a communist and not only that, but a member of nomenklatura. It's a parallel universe!

curious2   befriend (4)   ignore (6)   Mon, 21 Jan 2013, 7:58am PST   Share   Quote   Like   Dislike     Comment 20

errc says

http://seekingalpha.com/article/376711-evidence-that-warren-buffett-manipulated-the-silver-market-in-late-1990s

Interesting article, though it doesn't allege crony capitalism. It alleges he got away with manipulating the silver market, but it doesn't say how.

The Hunt brothers tried to corner the silver market in the 1970s. They lost billions, and Nelson Bunker Hunt filed bankruptcy. Asked how it felt to lose so much, he famously replied, "A billion dollars isn't what it used to be."

If Warren Buffett did corner part of the silver market, the question would become how did he succeed where others failed?

curious2   befriend (4)   ignore (6)   Mon, 21 Jan 2013, 7:59am PST   Share   Quote   Like   Dislike     Comment 21

marcus says

I may soon have to put you on ignore.

Don't worry Thedaytoday, he "Ignores" dozens of people. The creepy part is when he opens a separate browser to stalk us while pretending to ignore us. It's not you, it's him.

thomaswong.1986   befriend (0)   ignore (6)   Mon, 21 Jan 2013, 1:13pm PST   Share   Quote   Like (1)   Dislike     Comment 22

marcus says

Is Warren Buffet a communist ?

WB knew how to make money for his investors, but doesnt know what to do with his own billions... so instead of creating a diversified method of donating his billions he throws it all away into wasteful medical research. Lots of money into a narrow industry.

Bill Gates and Warren Buffet aren't very bright when it comes to spending their own wealth. In some ways very poor capitalists.

In contrast.. Howard Hughes Billions continued to be active in investing in our nations economy various industries and employing millions of people after he died... Airlines/Aerospace, Hotels/Casinos , Medical Research, Entertainment/Film, Oil drilling/refinement, Govt projects and other ventures.

Peter P   befriend (5)   ignore (4)   Mon, 21 Jan 2013, 1:15pm PST   Share   Quote   Like (2)   Dislike     Comment 23

No love for Warren Buffett.

George Soros is the real genius.

curious2   befriend (4)   ignore (6)   Mon, 21 Jan 2013, 2:35pm PST   Share   Quote   Like (1)   Dislike     Comment 24

thomaswong.1986 says

Warren Buffet....Howard Hughes....

thomaswong, when you get it wrong, you really get it wrong. Warren Buffett (note spelling) is donating most of his money to the Gates Foundation, and some to his own kids' foundations, but most of those donations go towards other things and only a too small fraction goes to medical research.

In contrast, Howard Hughes donated Hughes Aircraft to the Howard Hughes Medical Institute. He died childless and intestate, and his estate passed to cousins.

Kevin   befriend (0)   ignore (3)   Mon, 21 Jan 2013, 2:55pm PST   Share   Quote   Like (1)   Dislike (1)     Comment 25

thomaswong.1986 says

marcus says

Is Warren Buffet a communist ?

WB knew how to make money for his investors, but doesnt know what to do with his own billions... so instead of creating a diversified method of donating his billions he throws it all away into wasteful medical research. Lots of money into a narrow industry.

Bill Gates and Warren Buffet aren't very bright when it comes to spending their own wealth. In some ways very poor capitalists.

In contrast.. Howard Hughes Billions continued to be active in investing in our nations economy various industries and employing millions of people after he died... Airlines/Aerospace, Hotels/Casinos , Medical Research, Entertainment/Film, Oil drilling/refinement, Govt projects and other ventures.

Please enlighten us on the good that you're going to do with your billions.

thomaswong.1986   befriend (0)   ignore (6)   Mon, 21 Jan 2013, 4:38pm PST   Share   Quote   Like (3)   Dislike (1)     Comment 26

curious2 says

thomaswong, when you get it wrong, you really get it wrong. Warren Buffett (note spelling) is donating most of his money to the Gates Foundation

like i said warren buffett and bill gates (foundation) are not that brilliant with their own money. That kind of money could fuel many new multiple industries which in turn fuel economic growth for many more.

Of course the libs dont believe in trickle down economics... but they do happen and can be successful...

Kevin says

Please enlighten us on the good that you're going to do with your billions.

Gates wealth are around $66B.. Buffett would be additonal 44B or so.. Give jackass like you new jobs creating new industries... create new companies, build new facilities including mfg, employ workers, provide for on the job training etc etc etc.

Show a man how to fish !

Kevin   befriend (0)   ignore (3)   Mon, 21 Jan 2013, 4:58pm PST   Share   Quote   Like   Dislike     Comment 27

Cool, when do you start investing your billions? Obviously you're an expert on how to spend billions of dollars.

Tenpoundbass   befriend (1)   ignore (18)   Mon, 21 Jan 2013, 10:42pm PST   Share   Quote   Like   Dislike (1)     Comment 28

curious2 says

Warren Buffett (note spelling) is donating most of his money to the Gates Foundation, and some to his own kids' foundations, but most of those donations go towards other things and only a too small fraction goes to medical research.

Just because some well intentioned philanthropist, donates gobs of money to an organization that has high administrative costs, does not mean he did the most good with that money. Howard unlike Warren, was the man in charge of all of his ventures. He didn't throw his checkbook out there and hoped for the best. These times are the WORST of times to be donating money to a charity. Most all Charities have a guy at the top pulling in large corporation CEO salaries. Money is wasted or squandered because they are not for profit. So they have to spend the money they take in. Most of that money goes to paying salaries. Only a small fraction actually goes to a small starving child in Ethiopia.

If Warren buffet wanted to impress me, he should buy up large swaths of property in our inner city projects and slums, tear them down and build luxury highrises where he would then let people there live rent free.

curious2   befriend (4)   ignore (6)   Mon, 21 Jan 2013, 11:30pm PST   Share   Quote   Like (1)   Dislike     Comment 29

CaptainShuddup says

If Warren buffet wanted to impress me, he should buy up large swaths of property in our inner city projects and slums, tear them down and build luxury highrises where he would then let people there live rent free.

That would impress me also. But still I would have suggested medical research or other research, e.g. the world really needs a better battery. Then we could say, "This technology that helps everyone is here because this philanthropist made it possible." I am not very impressed with people who think "charity" means giving $$$ to brutal kleptocracies in Africa. Haiti gets more foreign aid per capita than any other country in the world, every year, decade after decade, yet the children are literally eating dirt to stave off the pain of hunger. People who throw money at those places, and feel good about it, don't really understand those places. Charity begins at home, and there are many worthwhile projects in America that need funding, so I do wish that American philanthropists would devote more of their attention to this country which is what enabled them to get rich in the first place.

tatupu70   befriend (3)   ignore (11)   Mon, 21 Jan 2013, 11:47pm PST   Share   Quote   Like   Dislike     Comment 30

CaptainShuddup says

These times are the WORST of times to be donating money to a charity. Most all
Charities have a guy at the top pulling in large corporation CEO salaries. Money
is wasted or squandered because they are not for profit. So they have to spend
the money they take in. Most of that money goes to paying salaries. Only a small
fraction actually goes to a small starving child in Ethiopia.

Do you even read the BS that you post? Is your position that the Gates foundation was set up by Bill Gates to enrich himself? Really?

Only on pat.net does someone who:

1. lives a ridiculously humble lifestyle (no expensive house, no expensive care, in Omaha, NE)
2. Promises to give almost his entire fortune to charity
3. Fights to raise taxes on himself and other billionaires to try to reduce wealth disparity

get riduculed as a crony capitalist. I'm sure he's not perfect, but Jesus Christ.

He's not giving his all his money to the "right" charity??? That's the best you've got?? How about you just say thank you, I wish I could give that much to charity.

dodgerfanjohn   befriend (0)   ignore (6)   Tue, 22 Jan 2013, 12:01am PST   Share   Quote   Like (1)   Dislike     Comment 31

Andrew Carnegie and John Rockefeller gave all their money away too, but were gigantic A-holes who stomped mud holes in their competition while they were alive.

Just cause Buffett gives away his money at the end of life doesn't mean he wasn an unethical ass in the business world.

Tenpoundbass   befriend (1)   ignore (18)   Tue, 22 Jan 2013, 12:09am PST   Share   Quote   Like   Dislike (1)     Comment 32

tatupu70 says

He's not giving his all his money to the "right" charity??? That's the best you've got?? How about you just say thank you, I wish I could give that much to charity

He gave it Bill Gates so he can add Whale sound effects to go with the colored lights in his $1,000,000 swimming pool.

tatupu70   befriend (3)   ignore (11)   Tue, 22 Jan 2013, 12:11am PST   Share   Quote   Like   Dislike     Comment 33

dodgerfanjohn says

Just cause Buffett gives away his money at the end of life doesn't mean he
wasn an unethical ass in the business world.

Sure--I think he can be safely judged by his behavior.

tatupu70   befriend (3)   ignore (11)   Tue, 22 Jan 2013, 12:13am PST   Share   Quote   Like (1)   Dislike     Comment 34

CaptainShuddup says

He gave it Bill Gates so he can add Whale sound effects to go with the
colored lights in his $1,000,000 swimming pool.

OK--as long as you are giving up any pretence of actually trying to make a point.

Tenpoundbass   befriend (1)   ignore (18)   Tue, 22 Jan 2013, 12:18am PST   Share   Quote   Like (2)   Dislike (1)     Comment 35

No I'm just putting it in perspective, while we're talking about two guys that each have more money than the Roman Catholic Church and State of Israel combined, are now giving money to charities. At the same time they are getting older and their Mortality is nagging them, that there, just might be GOD and all that.

Thedaytoday   befriend (0)   ignore (4)   Tue, 22 Jan 2013, 4:10am PST   Share   Quote   Like (1)   Dislike (1)     Comment 36

CaptainShuddup your a Bigot

thomaswong.1986   befriend (0)   ignore (6)   Tue, 22 Jan 2013, 11:24am PST   Share   Quote   Like   Dislike (1)     Comment 37

Kevin says

Cool, when do you start investing your billions? Obviously you're an expert on how to spend billions of dollars.

you can hire VCs to do that as well.. either way your fueling growth into the economy
instead of creating dead wealth... true capitalist know how to do this.

Im not worried about my soul in the afterlife. Bill Gates and Warren are...

Kevin   befriend (0)   ignore (3)   Tue, 22 Jan 2013, 2:05pm PST   Share   Quote   Like (1)   Dislike     Comment 38

thomaswong.1986 says

Kevin says

Cool, when do you start investing your billions? Obviously you're an expert on how to spend billions of dollars.

you can hire VCs to do that as well.. either way your fueling growth into the economy

No, I can't, because I don't have billions of dollars. Apparently you do, so I'm still wondering how you're going to invest your billions.

instead of creating dead wealth... true capitalist know how to do this.

Ok.

Im not worried about my soul in the afterlife. Bill Gates and Warren are...

Bill Gates and Warren Buffett are agnostic and atheist, respectively, so I doubt it. They're both pretty open about why they're doing what they're doing: They can't take it with them, their kids don't need that much money, and nobody else is doing it.

thomaswong.1986   befriend (0)   ignore (6)   Tue, 22 Jan 2013, 4:00pm PST   Share   Quote   Like   Dislike (1)     Comment 39

Kevin says

Bill Gates and Warren Buffett are agnostic and atheist, respectively, so I doubt it.

they worship themselves...

Kevin   befriend (0)   ignore (3)   Tue, 22 Jan 2013, 5:30pm PST   Share   Quote   Like   Dislike     Comment 40

They seem like people who are trying to do something good. I don't understand why morons need to shit on that. There's nothing wrong with wanting to cure malaria.

mrobmoore   befriend (0)   ignore (0)   Tue, 22 Jan 2013, 8:30pm PST   Share   Quote   Like   Dislike     Comment 41

Kevin says

Please enlighten us on the good that you're going to do with your billions.

I'd keep all of it invested in productive companies, which in turn raises the standard of living for everyone, provides high paying jobs, etc...

You can't have capitalism without the capital.

tatupu70   befriend (3)   ignore (11)   Tue, 22 Jan 2013, 8:31pm PST   Share   Quote   Like   Dislike     Comment 42

mrobmoore says

You can't have capitalism without the capital.

And capital sits idle when there is no demand.

mrobmoore   befriend (0)   ignore (0)   Tue, 22 Jan 2013, 8:42pm PST   Share   Quote   Like (1)   Dislike     Comment 43

Kevin says

They seem like people who are trying to do something good. I don't understand why morons need to shit on that. There's nothing wrong with wanting to cure malaria.

If it is possible to manage any non-profit business in a semi-efficient way, these guys are right for the job.

However, there is finite resources in this world. The profit/loss feedback mechanism within a free market has proven to be the most efficient way to allocate our worlds resources, by far.

Charities are almost always wasteful, and often self-indulgent power trips for those who are powerful enough to start them.

That is why people shit on gates and buffet.

lostand confused   befriend (9)   ignore (2)   Tue, 22 Jan 2013, 8:53pm PST   Share   Quote