[Marxism] Key Obama backer worth $50 billion profits from taxpayer bailout of Wall Street

Duane Roberts duaneroberts92804 at yahoo.com
Wed Apr 8 11:24:00 MDT 2009


Shane Mage wrote:

> So the "downward spiral" only began last November
> (blame Obama)? The average duration is from 2008
> to 2023. 15 years. That's not a long
> haul?

I obviously mispoke when I erroneously wrote that the "downward spiral" in the capitalist economy began shortly before November. In my opinion, the origins of this current crisis go back to the 1970s when real wages for the working class began to stagnate.

> This is how the FT author analyzed it:

>> In the long run, this all just shows the absolute
>> short-sightedness of Wall Street. It’s a fantastic move
>> over the long run. Berkshire just collected a $4 billion
>> cash infusion which it can use to buy up great 
>> stocks at very low prices and wait out the next
>> decade. It may seem like an exotic move to some,
>> but once you actually look at the numbers and risk,
>> it’s actually much more prudent than investors 
>> are willing to give Berkshire credit for over the
>> short-term. As usual, it looks like Buffett scores
>> another big score in this turbulent market and
>> it’s only a matter of time until the investment 
>> community realizes it. At this time, if you’ve got
>> a multi-year time horizon and are using a conservative
>> investing strategy that always keeps cash on hand for
>> the enticing opportunity to buy lower, I’d 
>> consider starting to look at shares of Berkshire[**]

> Is anyone suggesting that if capitalism were to survive
> another 15-20 years it would do so without a massive
> inflation of currency and that this would not be reflected
> in world stock-market indices?

There is still a possibility that Buffett made an imprudent decision that could have a detrimental impact upon the financial viability of Berkshire-Hathaway. But when Buffett makes a mistake, he'll just run to the state and get the taxpayers to bail him out.

Sincerely,

Duane J. Roberts
duaneroberts92804 at yahoo.com




      




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