Obama Goes To Buffett For Economic Advice: More Taxpayer Bailouts Imminent

Tyler Durden's picture




 
0
Your rating: None
 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Mon, 08/22/2011 - 13:34 | 1586608 azengrcat
azengrcat's picture

We're doomed

Mon, 08/22/2011 - 13:38 | 1586632 slaughterer
slaughterer's picture

Its ok if Warren provides some nice folksy memes for BO to regurgitate in his town halls, but when he is called upon for providing a solution, the man is clearly dangerous. 

Mon, 08/22/2011 - 13:40 | 1586652 BaBaBouy
BaBaBouy's picture

Same Shit ...

 

Empty Heads = Country Is Toast ...

Mon, 08/22/2011 - 13:47 | 1586685 flacon
flacon's picture

Paging Larry Summers. ... Hello? ... Hellooooo? ... No answer.... 

Mon, 08/22/2011 - 15:38 | 1587260 Thomas
Thomas's picture

That fucking stock jobber gets all the inside tips. He's a hoser. 

Mon, 08/22/2011 - 14:53 | 1587068 Kat
Kat's picture

Trouble is, his "folksy memes" can be summed up as "what's good for the economy is transfer payments from taxpayers to me, Warren Buffoon". 

The other trouble is that the idiot American public is as smitten with this asshole as the idiot in chief. 

Mon, 08/22/2011 - 16:44 | 1587538 calltoaccount
calltoaccount's picture

 

 

Open Letter to Warren Buffett: Put Your Money Where Your Mouth Is

By David DeGraw 

Posted By  On August 19, 2011 @ 5:24 pm In Activism,Economy,Feature,Hot List,Politics & Government |

Dear Warren,

If you are truly sick and tired of the “mega-rich” being “coddled” by a “billionaire-friendly Congress,” as you said in your recent NY Times editorial [3], why don’t you back up your words with some real action and put your money where your mouth is?

As you well know, though you may not admit it publicly, there is a system of political bribery in place that allows the “mega-rich” to control our political process, thus creating the “billionaire-friendly Congress” you claim to be against. Through campaign finance, lobbying and the revolving door the “mega-rich” are able to dominate and corrupt government policy.

If you are serious about what you say, it seems obvious that you would financially support politicians and organizations that seek to change these government rigging processes.  Saying that you want to be taxed more by a paid off government, without changing the system that allows this corruption in the first place, sounds like meaningless rhetoric to me.

While you are at it, if you truly believe in free market competition, you must surely want to break up the “too big to fail” banks that have now rigged your beloved “free market.” Clearly, you can’t have free market competition when a few global financial institutions have consolidated so much wealth and power that they can crash the economy and then get paid off politicians and the Federal Reserve to throw trillions of dollars at a select few and rig the “laws” and “regulations” in their favor. That’s clearly not a free market based on fair competition. Once again, this a symptom of the system of political bribery.

So Warren, what do you think? Are you going to support efforts to make these urgently needed changes, or are you just making meaningless statements to ease your guilty conscience?

If you are truly concerned about the future of America, you should be fighting on these fronts.

I sincerely hope you are a man of your word.

If you would like to discuss these issues further or publicly debate them, please have your people get in touch with me.

Thank you for your time,

David DeGraw
Email: David[@]AmpedStatus[.]com

[1] [2]

Article printed from ampedstatus.orghttp://ampedstatus.org

URL to article: http://ampedstatus.org/open-letter-to-warren-buffett-put-your-money-where-your-mouth-is/

URLs in this post:

[1] http://twitter.com/home/?status=Open+Letter+to+Warren+Buffett%3A+Put+Your+Money+Where+Your+Mouth+Is+http%3A%2F%2Fbit.ly%2FoOQQK1


[2] http://reddit.com/submit?url=http://ampedstatus.org/open-letter-to-warren-buffett-put-your-money-where-your-mouth-is/&title=Open+Letter+to+Warren+Buffett%3A+Put+Your+Money+Where+Your+Mouth+Is


[3] editorial:  http://www.nytimes.com/2011/08/15/opinion/stop-coddling-the-super-rich.html?scp=1&sq=buffett%20and%20taxes&st=cse

 

 

 

Mon, 08/22/2011 - 16:57 | 1587596 Kat
Kat's picture

Oh, so not gonna happen. 

Warren LOVES a "billionaire friendly congress".  He adores rent seeking - been doing it most of his adult life.

This whining about taxes is rent seeking as is his support for TARP (right after negotiating a sweet deal with Goldman, including in the money options, that would have been an assured mega gain for this fab billionaire only if the "billionaire friendly congress" were willing to transfer taxpayer funds to Goldman.  And they did).

What a disgusting piece of shit this Buffoon is.

Mon, 08/22/2011 - 13:38 | 1586635 Ahmeexnal
Ahmeexnal's picture

Ogolfer must be asking Warren tips on where to vacation like a prince.

Mon, 08/22/2011 - 13:42 | 1586663 slaughterer
slaughterer's picture

Is THIS the reason we are rallying?   NO, say it cannot be. 

Mon, 08/22/2011 - 14:37 | 1586972 Marcuz Aurelius
Marcuz Aurelius's picture

Let's not forget we will go to WAR azengrcat. You can't teach it tricks, lay-dead, heel, roll over ! 

Mon, 08/22/2011 - 17:41 | 1587761 IQ 145
IQ 145's picture

God what a farce ! I keep having to remind myself this is real and not some kind of play put on by the "Onion". Maybe the actual subject of the call, was, how much are you going to put in my retirement account in Austria if I do what you tell me to? NOthing would surprise me less.

Mon, 08/22/2011 - 13:34 | 1586609 Sgt.Sausage
Sgt.Sausage's picture

This can't end well ...

Mon, 08/22/2011 - 13:41 | 1586655 slaughterer
slaughterer's picture

OGolfer clearly has not a single worthwhile idea for the US economy of his own. 

Mon, 08/22/2011 - 13:49 | 1586698 flacon
flacon's picture

That's because he's a Constitutional "expert" and a No-Bell "Peace" Prize winner - not an "e-CON-omist" - 

Mon, 08/22/2011 - 13:54 | 1586724 spiral_eyes
spiral_eyes's picture

I fucking pwned buffett on "job creation" after he wrote that NYT bullshit. emailed him my post, but he didn't respond. probably didn't read it. too busy plotting populatin reduction with billy gates.

http://azizonomics.com/2011/08/17/job-creation-101/ 

obama might as well go to paul krugman. same fucking difference.

Mon, 08/22/2011 - 14:55 | 1587076 Translational Lift
Translational Lift's picture

That's because he's a Constitutional "expert" and a No-Bell "Peace" Prize winner - not an "e-CONomist"

Clueless fuck is more like it!!

Mon, 08/22/2011 - 15:00 | 1587104 Buckaroo Banzai
Buckaroo Banzai's picture

The current Term of Art is, "stuttering clusterfuck of a miserable failure."

Mon, 08/22/2011 - 17:43 | 1587771 IQ 145
IQ 145's picture

"If it walks like a Duck, has feathers all over it, and quacks, it's probably a Duck".

Mon, 08/22/2011 - 18:05 | 1587859 DosZap
DosZap's picture

flacon@13:49,

I agree w/ the No Bell Prize,but plsssssssssss,Constitutional Spurt?.

To be called that,one must know it, and interpret as the Founders intended.

Something this SO called SPURT has NO CLUE of,and has taught it according to HIS interpretation, instead of the REAL DEAL.

Lord help any student that sat under that SO called SPURTS Const teachings...................closer to Marx than the Original..

Mon, 08/22/2011 - 13:34 | 1586610 TheTmfreak
TheTmfreak's picture

Let me guess what the answer will be.

Tax the rich, while continuing to feed the "wall street fat cats" (it'll be called something else naturally).

Mon, 08/22/2011 - 13:46 | 1586680 infinity8
infinity8's picture

shake 'n bake.

Mon, 08/22/2011 - 14:22 | 1586886 Mr. Poon
Mr. Poon's picture

Well, "tax the rich" will be the campaign slogan, but the reality will be taxing those who are trying to become rich, while leaving those who already are rich untouched to enjoy their wealth.  The easiest way to do that, of course, is to lay massive taxes on income while leaving assets and capital appreciation alone.

Mon, 08/22/2011 - 14:33 | 1586952 TheTmfreak
TheTmfreak's picture

Well of course thats what the reality is.

I find it funny that so many people (including politicians) talk shit about the financial industry, but hold this guy high up. Literally the guy who "won the most" in the financial industry. Uhm.... is he the "exception" to the rule? The guy who did best that which so many dislike?

Hypocrisy to the max.

Mon, 08/22/2011 - 17:38 | 1587751 ElvisDog
ElvisDog's picture

That's exactly correct. Who do the uber-rich fear? The sort-of rich who might become rich enough to challenge the empires of the uber-rich. But if you can take away a good part of the capital of the sort-of rich, that problem disappears.

Mon, 08/22/2011 - 17:45 | 1587777 Kat
Kat's picture

I don't think so.  You becoming super rich does not in any way harm the already uber rich.  They don't care one way or another about you.  Besides, the way to become super rich is to create stuff like google, facebook and other useful inventions the uber rich love.

No, I think it has a lot more to do with the uber rich kids of the people who originally broke their backs to create all that wealth and those to whom it came too easily (Zuckerberg and the google guys).  They're already rich.  They also have "principles" and they would like for you to pay for those principles so that they can feel better about themselves.  Or, they really do have those principles and they figure they should force you to have them too.  At gunpoint.

Any way you look at it, they're fucking assholes.

 

 

Mon, 08/22/2011 - 17:47 | 1587780 IQ 145
IQ 145's picture

Ding! Ding! give that man a kewpie doll.

Thu, 08/25/2011 - 11:49 | 1599846 boiltherich
boiltherich's picture

And, the real reality is that income has become so distorted and unequal that the income tax no longer captures near enough of the national income to pay for even ongoing government no less to pay down or service the debt.  It has not for a long time now, that is why they had to borrow against future income of the middle class and poor who will never-not ever- have it to pay.  Now we reach a point that they can't really borrow more from the future incomes of the less than wealthy but the money has to come from somewhere.  Even if we cancel deductions for kids and mortgages, for everything so that we have a postcard type tax filing for income it will not close the gap, even if we redefine financial and other unearned income as ordinary income to be taxed at the 35% rate rather than 0-15% it will not be enough.  Annual national income at a 35% tax rate now cannot satisfy the need for revenue, there simply is not enough and what there is now is in far too few hands.

Answers you will eventually see, a wealth tax.  This would include but not be limited to a national property tax.  A national sales tax (or VAT) which would send me away from the USA, a national luxury tax, a return to high estate taxes on larger non farm estates (one of the few I favor), closing the loopholes on corporate taxes, though I should hope coupled with lowering the rate to an average of our major competitors around the world.  But how ever the government collects it the money has to come from actual people that have it.  And those that actually have wealth know this, that is why they are pulling out the big guns in the class war, and why they are buying real estate in Paraguay, Argentina, and Uruguay. 

Mon, 08/22/2011 - 13:35 | 1586615 Cash_is_Trash
Cash_is_Trash's picture

Hulk say: FIAT SMASH!!

Mon, 08/22/2011 - 13:35 | 1586617 Hugh G Rection
Hugh G Rection's picture

Ya Buffet, tell us again how we need to raise taxes on those that can't avoid them with a team of lawyers.

Mon, 08/22/2011 - 13:35 | 1586619 LawsofPhysics
LawsofPhysics's picture

More QE, this time to the bottom 20%, compliments of the folks in the middle.  Screwed again.

Mon, 08/22/2011 - 13:37 | 1586627 Bastiat
Bastiat's picture

Buffet sez:  Suck it up, bitches!

Mon, 08/22/2011 - 13:37 | 1586631 buzzsaw99
buzzsaw99's picture

why won't that old maggot die? holy f%ck!

Mon, 08/22/2011 - 13:38 | 1586637 Bastiat
Bastiat's picture

Shit Cheney's still alive . . .and Kissinger . . . and Greenspan.

 

Mon, 08/22/2011 - 13:51 | 1586707 slaughterer
slaughterer's picture

Why not just cut to the chase and PRINT.  Who needs advisors any more when you have a printing press?

Mon, 08/22/2011 - 16:04 | 1587347 Steaming_Wookie_Doo
Steaming_Wookie_Doo's picture

And so is the Queen, D. Rockefeller, Rothschilds, Bush Snr, etc. Heck Zsa Zsa Gabor has had last rites 4 times already this year.

P.S. I think Becky Quick gave you the thumbs down.

Mon, 08/22/2011 - 13:41 | 1586658 fuu
fuu's picture

Puppy blood baths?

Mon, 08/22/2011 - 13:47 | 1586691 Dr. Richard Head
Dr. Richard Head's picture

Actually, he takes the tears of 401K holders rectally.

Mon, 08/22/2011 - 17:48 | 1587784 IQ 145
IQ 145's picture

urrrggh. not a pleasant image.

Mon, 08/22/2011 - 13:39 | 1586633 TruthInSunshine
TruthInSunshine's picture

 

 

Obama is a clueless f*ck on anything remotely having to do with economics.

He's in a mad scramble to raise lots of cash, hoping to buy the 2012 election, so reaching out to Comcast's CEO (as he did Saturday Night on Martha's Vineyard, at Comcast's CEO's "cottage") and Warren "Thank You Uncle Sugar" Buffet is just going to be the start to his Wall Street Scumbag ass kissing.

Jamie Dimon, the Treasury Department is yours for the asking, and Lloyd Blanfein, you get any Cabinet position you want, buddy.

Brace yourselves for disgusting scenese of impure acts of perversion and even bestialisty as Obama does the Wall Street rounds, servicing his masters.

Mon, 08/22/2011 - 13:42 | 1586660 BoNeSxxx
BoNeSxxx's picture

With all due respect, every word of your post beyond the first five was superfluous.  :)

Mon, 08/22/2011 - 13:48 | 1586694 TruthInSunshine
TruthInSunshine's picture

Tu che.

Mon, 08/22/2011 - 13:44 | 1586673 slaughterer
slaughterer's picture

Once OGolfer and Michelle start taking midnight yaught rides from Martha's Vineyard to the Hamptons, we will know for sure...

Mon, 08/22/2011 - 13:54 | 1586722 FreudianSlip
FreudianSlip's picture

Well done Truth...absolutely spot on.  One only has to know who sits in the office nearest his oval office desk to understand what truly drives the man and how he spends his time.  But, of course media will never bring any of the behind scenes into the open.  Media can't afford to lose their advertisers.  Has anyone else noticed all the silly government agency media advertising???  

 

Remember, wasn't it Arafat surrounded by gay personal body guards?  Didn't he really die of AIDS?  Was that another media coverup?  Amazing how massive amounts of money will let you cover up anything.  Now they use our tax dollars to cover up their frauds and keep us all in the dark.  Time to change who signs the government checks. He who controls the check book controls everything.

Mon, 08/22/2011 - 14:44 | 1587029 steelhead23
steelhead23's picture

Aw Sunshine, You've hit it out of the park.  For Mr. Buffet, to be asked for advice by the POTUS is the ultimate compliment, a true ego boost.  I gotta wonder, how much did Warren pay for that ego job?  We already know that Obama swallows.

Mon, 08/22/2011 - 17:52 | 1587803 IQ 145
IQ 145's picture

Jebus Christos, Warren could get him elected all by himself; assuming some familiarity with black bagging and off shore money accounts, etc. Oh, groan. I think Beer time is coming early today.

Mon, 08/22/2011 - 15:26 | 1587209 blunderdog
blunderdog's picture

This is all true, but hang on a minute...

...no one here really *believes* the preznit can "fix" the economy, do they?

I mean, come on.

Mon, 08/22/2011 - 16:06 | 1587356 Steaming_Wookie_Doo
Steaming_Wookie_Doo's picture

Well, he can "fix it" for friends.

Mon, 08/22/2011 - 16:33 | 1587496 faustian bargain
faustian bargain's picture

The best anyone can do right now is stop making the inevitable outcome worse and worse.

Mon, 08/22/2011 - 13:39 | 1586642 Silvergood
Silvergood's picture

Keep buying Gold and Silver...Heading a lot higher!!

Do NOT follow this link or you will be banned from the site!