The Bewilderment that is Buffet

Warren Buffet bewilders me. OK, He's a liberal. By definition liberals are not right upstairs. By every time he opens his mouth and discusses economics he makes me wonder how in the world he is a billionaire. His words repeatedly display utter ignorance about economics.

I will focus today on his recent comments about Barak Obama. The headline on Bloomberg.com stated "Obama Can Spread Prosperity, Fairness, Buffett Says". Huh?

OK. I am an engineer. I have an engineering degree. I do not have a finance degree nor any experience in the market except for losing money. Buffet is a billionaire earned through his skills in the market. How can anyone who is smart enough to build a fortune like his actually believe that a president can spread prosperity and fairness? The closest thing to that ever happening was Ronald Reagan's tax cuts. Our nation is still prospering from those bold moves 25+ years ago. But fairness? A free market is the closest thing to bringing about fairness but Obama is a liberal and sides with socialism before capitalism. A socialist "pie in the sky" goal is fairness, usually sought by force since the free market does not guarantee prosperity to those who don't work.

Does Buffet like Obama and his ilk because they favor government taxing high incomes and redistributing the money? Well I can see why Buffet would be bothered with that. He already has his money. He doesn't need an income. Like many liberal millionaires and billionaires, they always favor high income taxes on other people trying to get rich but frown on "wealth" taxes on the fortunes of those who have already made it financially.

To add to this bewilderment he has done some things that are tremendous. The biggest one to me is when he announced that a significant portion of his wealth will not go to his children. He said, "I want to give my kids just enough so that they would feel that they could do anything, but not so much that they would feel like doing nothing". This is wisdom on the level of Solomon.

How can a man be so wise but then routinely say something so ignorant?