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"A Wolf In Sheep's Clothing"

Tyler Durden's picture


Submitted by Mike Krieger of KAM LLP

This really bothers me. You have to love that Warren Buffett, the richest man in the world, has deemed himself representative and ambassador for those making $250,000 and more..."People like myself" he says. People that take home $250,000 a year before taxes are somehow in the same category as the richest man in the world? I would say there is a fairly large gap between a $250,000 annual income and a $45 billion empire. And how did the powers that be arrive at this arbitrary yet significant figure of $250,000 as the line for dividing rich and poor?  Warren, why not donate your money to the government that you feel so strongly should be funded with more money from the "rich" that you have appointed yourself representative of?  I am beyond disgusted by these righteous "do as I say, not as I do folks that have already made a fortune and yet are lobbying for higher taxes as though they are elected representatives for the government's definition of "rich", meanwhile by and large their wealth has already been made and tax policy is immaterial to their incremental future wealth. If he feels so strongly about what people like him should be paying, WHAT'S STOPPING HIM? Pay more then, Warren, if it means so much to you. Nobody is stopping you and the government will gladly accept a larger check from you on April 15th. Meanwhile stop meddling in the business of people that are eons and light years away from you in wealth and are still working daily to achieve their own financial success and stability. And I'm not against paying more in taxes...I'm just against higher taxes as long as it's being funneled to the reckless careless idiots in Washington DC currently in charge of spending it...but that's subject for another conversation altogether.

- Written by a friend of mine last November

A Wolf in Sheep's Clothing

Anyone that has read these pieces for a while knows where I stand on Warren Buffett.  Namely I can’t stand him.  It has nothing to do with the fact that he has so much money.  I am not an envious person and moreover I think having wealth anywhere near his is more of a curse than a blessing.  The reason I can’t stand him is because he is a fraud.  While he may have been a great investor at one point, he is more of a great actor than anything else.  Here is one of the richest people in the world.  He sits there in Nebraska, chuckling, drinking his cherry coke and eating hamburgers in this pathetically obvious attempt to convince the masses he is “just like us.”  The term wolf in sheep’s was invented for guys like this.  Like most people out there I don’t like bad guys.  The trick; however, is that the most dangerous bad guys don’t come out and tell you they are bad guys and how they are going to fleece you.  What they do is pretend they are the good guys.  Pretend that they are on the side of the little guy or working for the “collective good,” which is a preposterous statement because there is no such thing.  Human desires and notions of what is a good life are as varied as the stars in the sky.  Once we start allowing officials or rich people to define “collective good” you can be sure we are finished.

I am currently rereading Henry David Thoreau’s Walden.  Thoreau has been described as “an American author, poet, abolitionist, naturalist, tax resister, development critic, surveyor, historian, philosopher, and leading transcendentalist.”  In other words, in my mind a true American hero.  I was struck by this line as I was reading it the other day:

If I knew for a certainty that a man was coming to my house with the conscious design of doing me good, I should run for my life, as from that dry and parching wind of African deserts called the simoom, which fills the mouth and nose and ears and eyes with dust till you are suffocated, for fear that I should get some of his good done to me – some of its virus mingled with my blood.  No – in this case I would rather suffer evil the natural way.  A man is not a good man to me because he will feed me if I should be starving, or warm me if I should be freezing, or pull me out of a ditch if I should ever fall into one.  I can find you a Newfoundland dog that will do as much. 

Thank you sir.

So back to Buffett.  The truth of the matter is, as I and other have exposed these last several years, is that he essentially runs a financial services company.  When the system itself was threatened the status quo was threatened.  Buffett stepped in and became a government agent once he saw the writing on the wall.  He did not step up for America.  He did not step up for the people.  He stepped up for himself and his legacy.  He stepped up to save the status quo because he is the status quo.  All of this raises a very serious issue in America right now and one that needs to be dealt with in the next crisis (which has arrived) or we will never be able to recover into the world’s most vibrant and dynamic economy again.  A lot of people lament the lack of upward mobility in the U.S. right now and I share those sentiments.  However, equally important is downward mobility.  What makes the concept of America unique is not merely the concept that the poor can become rich but that the rich can become poor.  It is this second part that is the most dangerous to social cohesion when it disappears.  Unfortunately, the system that we have today of an unholy alliance between Wall Street, Washington D.C. and the multi-national corporations (including the military industrial complex of course) stands there holding onto all the levers of power to serve as gatekeepers of their own empires.

I read a great article on a related topic recently.  It was called “Central Planning and The Fall of the US Empire.”  One of the most significant conclusions in my opinion was the following:

The answer is that an extreme concentration of wealth at the center of our market economy has led to a form of central planning.   The concentration of wealth is now in so few hands and is so extreme in degree, that the combined liquid financial power of all of those not in this small group is inconsequential to determining the direction of the economy.   As a result, we now have the equivalent of centralized planning in global marketplaces.  A few thousand extremely wealthy people making decisions on the allocation of our collective wealth.  The result was inevitable:  gross misallocation across all facets of the private economy.


To see what this extreme wealth concentration looks like as a distribution, we don't have to look further than income distribution in the US (classic power law).   The liquid wealth of those on the extreme left of the curve completely outweighs the 99.5% of the population to the right (the distribution is FAR more skewed than most people even imagine -- Republican or Democrat).  This graph would also be a good way to demonstrate how decision making in a bureaucratic dictatorship in a country like the Soviet Union looked like before it collapsed.

Once again this brings us back to good old Uncle Warren.  Have you noticed that Obama can’t make a speech these days without saying “Warren Buffett say this…or Warren Buffett says that.”  I mean give me a freaking break.  It seems that Buffett has been named head of the U.S. economy and basically Obama just picks up the phone and whatever uncle Warren says goes, despite the fact that the guy has a huge stake in one thing and one thing only.  Preserving the status quo and preserving his legacy.

The Wolf Invests in Bank of America

The interesting thing about today is that I had intended to write this piece on Warren Buffett all week.  It was just really fortuitous timing that this Bank of America news came out today.  Gosh where to start.  First of all, this $5 billion preferred investment by Uncle Warren in preferred stock is extremely bearish for the market, the economy and the financial system.  This is not an investment, it is political-economic strategy.  It tell us so many things that we probably already suspected.  It tells us that Bank of America did indeed need capital.  Even worse they probably need so much that they went to Uncle Warren for five big ones so that people would just look the other way and gain “confidence.”  This is how out to lunch these guys are.  They don’t understand that the root of the lack of confidence is that the people see a country devolving into a Banana Republic led by greedy oligarchs and politicians stealing everything in sight as the ship sinks.  So then they roll out the number one crony capitalist in America, tell us he is investing in Bank of America and expect that to lead to confidence!!  What a bunch of maniacs run this nation.  This is 1789 France folks as I have said many times before.

Second, the fact that TPTB are resorting to Uncle Warren for everything now may mean the Fed is out of the game.  No one has confidence in the Fed to come save the day so they need the next thing.  That next thing is Uncle Warren.  Unfortunately it’s not working and it is not going to work.  You can see it in the market today.  People are waking up.  They are starting to see through the matrix.  Buffett is a fraud and a shill.  If you follow him it will be right over a cliff.

The Baby Boomer generation is getting old and their ideas about how political systems and economies operate are getting even older.  My generation is coming into its own and we will determine our own destinies. You can step aside gracefully or you can be pushed aside.  Either way your days of running the lives of this planet are numbered.  The Fourth Turning is here. 

Peace and wisdom,


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Thu, 08/25/2011 - 13:49 | 1600552 Transitory Disi...
Transitory Disinflation's picture

This is my ode to you all...

An ode to ZH

bitchez, bitchez - transitory riches
corrupted ratings, moodys and fitches
ponzi, fiat, lies to the masses
debt getting bigger soon to be crashes
house crash and squatting, mortgages in limbo
financial terrorists must end up in gitmo

secret spending, trillions in bailouts
big men, pigmen, filling their snouts
currency, cash, etfs or gold
tiz poker at ben's table, raise, call or fold

wheel out the teleprompter - must lie some moar
Buffets got intel, he knows the score
too big to fail, too big to save
who beleives in the elliot wave
HFT, BTFD, which way to trade
watch out bitchez, thugs are coming to raid

insider trading, must be a mole
watch for Bernanke outta Jackson Hole
Chocozone collapsing, shorting is banned
It's all GODS work says the Bald headed man

11-11-11 = Binary triple Six
APPLE, LULU, pilling into Netflix
You makes your choices - You make your pledges
All the people need to read Zero Hedges

Storing your GOLD in the United State Nation
leaves you open to GOV confiscation
GOLD to the moon says Mike Maloney
Will it happen or is that just phoney

Inflation, deflation tiz the end of a nation
All the elites will live on the space station

The all seeing eye is watching you
The capstone is coming but you already knew
count the bricks from 1776 - if you dare delve
The dollar tells you the end is coming, its in 2012

Open your eyes there is lots to see
Gold is money - paper is currency
paper paper everywhere, the helicopter is flying you better beware

Iphones and Ipads shuts up the masses
remember bitchez WATCH OUT FOR THE CRASHES

Thu, 08/25/2011 - 13:51 | 1600571 Clueless Economist
Clueless Economist's picture

But Becky Quick seems to think he is a charming old geezer.

Oracle of Omaha my butt cheeks.  More like Ogre of Omaha.

Thu, 08/25/2011 - 14:09 | 1600691 wanklord
wanklord's picture

Americans are a bunch of stupid animals easy to manipulate and subdue. The sooner the US economy collapses the better, so these brutes will finally learn NOT to live beyond their means.

Thu, 08/25/2011 - 14:31 | 1600855 Usotsuki
Usotsuki's picture

I actually think people underestimate Buffet. Yes, he represents the status quo and I'm tired of it to. I also agree with 95% of what the author wrote too. However, I think Buffet understands these greedy politicians and knows they are out to get the rich. But he always one-ups them by PRETENDING to go along with their false and hypocritical ideology of taxing the rich.  He shows he is PRETENDING by the fact that he DOESN'T give his money to the govt; because he knows his capital is much better utilized to create more jobs, wealth, and capital by investing elsewhere.

So he pays them lip service (and let's agree current rules on capital gains vs. regular income taxes are STUPID, right? He is right about them being stupid, though I don't agree with any taxes going up - they should all go DOWN!) all the while knowing that if they think him a friend they probably won't devour him and his companies like they do to others. I really believe he only does it to keep them off his back to make his own life easier.

Do they use him and his comments like a tool? - YES! Does he seem like a tool a lot of the time? -YES!  Is he hurting the real cause of freedom and liberty by paying them lip service for such stupid policies and ideas? - YES! But he is only doing what's in his own best interest - paying them lip service so they will leave him alone so he can do what he wants to do.  Which he apparently wants to work until the day he dies making millions and billions of dollars. Which is great for all the people who do now and will in the future, work for one of his great companies.

You can hate him all you want and I don't blame you. But don't you think he isn't as stupid and he sounds and looks? Think about it, one of the top 3 richest guys in the world...don't you think he's figured some things out along the way, like stay out of the politicians way?  At least he isn't out there like all the other busy bodies running for office and trying to force us to live they way he wants us to...

Thu, 08/25/2011 - 14:41 | 1600915 LFMayor
LFMayor's picture

You're convincing a troll here, Usotsuki.  Your points are resonable and well stated but this guys mission is to fly into a discussion thread and shit in the corner, trying to incite some flammable rhetoric.

Thu, 08/25/2011 - 15:09 | 1601045 Ruffcut
Ruffcut's picture

I thought he same thing, but remember shit does burn.

Thu, 08/25/2011 - 15:46 | 1601242 WarriorClass
WarriorClass's picture

Break the fucking code, bitches:


Bring the house down!

Thu, 08/25/2011 - 18:11 | 1601828 raki_d
raki_d's picture

"Riemann hypothesis" solved ?

Thu, 08/25/2011 - 18:56 | 1601975 spiral_eyes
Thu, 08/25/2011 - 19:56 | 1602128 eisley79
eisley79's picture

sheep in wolfs in sheeps clothing bitchez....


Thu, 08/25/2011 - 19:59 | 1602146 eisley79
eisley79's picture

LOL, best picture ever, too bad zero hedge commenting blocks inline images, it shows up in the editor, but not the comment page.  I am sure its just to save bandwidth, click the link, its BI-#WINNING

Thu, 08/25/2011 - 18:11 | 1601855 caerus
caerus's picture

georg cantor bitchez...

Thu, 08/25/2011 - 18:28 | 1601913 YHC-FTSE
YHC-FTSE's picture

It's been over ten years since I spent sleepless nights trying to find clever ways to find primes - then the EFF was offering stupid amounts of money for the largest verified primes, so I am familiar with the subject. Familiar enough to recognize the old tools you are using on the site. However, I don't understand your tenuous link between primes and Jehovah. Far be it for me to tell others how to think, but as far as I'm concerned religion is a private matter between you and God. You might find your site more receptive if you concentrated on the maths, and less on the metaphysics. 

Thu, 08/25/2011 - 18:59 | 1601973 Pegasus Muse
Pegasus Muse's picture

Mrs. Barry (Michelle) Soetoro: Setting an example with a certain “uniquely Michelle” IDGASWTHYT style and flair.


Shared Sacrifice: Lady Obama Spends $10 MILLION on Vacations In the Past Year

 Mac Slavo

 August 25th, 2011

President Obama needs your help. In a July 15, 2011 briefing he told the American people that we have to be willing to seize the moment, but that it would take shared sacrifice to do it:

And so during the course of these discussions with congressional leaders, what I’ve tried to emphasize is we have a unique opportunity to do something big. We have a chance to stabilize America’s finances for a decade, for 15 years or 20 years, if we’re willing to seize the moment. Now, what that would require would be some shared sacrifice and a balanced approach that says, “We’re going to make significant cuts in domestic spending.” -Barack Obama July 15, 2011 (video)

While Americans are chipping in by sacrificing their jobs, homes, kid’s college tuition, and their retirement plans, Ms. Obama apparently missed her husband’s speech:

White House sources today claimed that the First Lady has spent $10million of U.S. taxpayers’ money on vacations alone in the past year. Branding her ‘disgusting’ and ‘a vacation junkie’, they say the 47-year-old mother-of-two has been indulging in five-star hotels, where she splashes out on expensive massages and alcohol. … The First Lady is believed to have taken 42 days of holiday in the past year, including a $375,000 break in Spain and a four-day ski trip to Vail, Colorado, where she spent $2,000 a night on a suite at the Sebastian hotel. And the first family’s nine-day stay in Martha’s Vineyard is also proving costly, with rental of the Blue Heron Farm property alone costing an estimated $50,000 a week. The source continued: ‘Michelle also enjoys drinking expensive booze during her trips. She favours martinis with top-shelf vodka and has a taste for rich sparkling wines. ‘The vacations are totally Michelle’s idea. She’s like a junkie. She can’t schedule enough getaways, and she lives from one to the next – all the while sticking it to hardworking Americans.’ … While the President and his wife do pay for some of their personal expenses from their own pocket, the website says that the amount paid by the couple is ‘dwarfed by the overall cost to the public’.

Source: Daily Mail

We would comment, but none is necessary.

Fri, 08/26/2011 - 00:49 | 1602987 owensdrillin
owensdrillin's picture

Good point but I wouldn't call it  "vacationing her ass off".

Thu, 08/25/2011 - 16:13 | 1601382 Usotsuki
Usotsuki's picture

Just for the record I'm not defending Buffet. I agree that the tax code is screwed up, but I totally disagree with taxing the "rich" more. I'm tired of hearing we need to cut benefits and raise taxes.  NO!  Cut benefits and CUT TAXES too! I'm extremely angered when these elitist super rich like Buffet talk about policy like they are an authority or something. Speak for yourself and leave everyone else out of it. You don't speak for "rich" people no matter how rich you are.


Thu, 08/25/2011 - 17:46 | 1601781 A.W.E.S.O.M.-O 4000
A.W.E.S.O.M.-O 4000's picture

Also I would say that there is a pretty big difference between 250K and the 35K that the average sap in the US is making.


But I'm sure that all of the college boys that post on ZH are in the top 1% and therefore upset by Obama's "Radical Socialist Agenda" 

Thu, 08/25/2011 - 19:50 | 1602116 narapoiddyslexia
narapoiddyslexia's picture

Alexa says that ZH is viewed by men over the age of 45, dude.

Fri, 08/26/2011 - 08:02 | 1603344 A.W.E.S.O.M.-O 4000
A.W.E.S.O.M.-O 4000's picture

By "college boys" I meant college graduates.

Thu, 08/25/2011 - 16:47 | 1601531 whstlblwr
whstlblwr's picture


Kind of like stinky funky monkey.

Thu, 08/25/2011 - 17:06 | 1601605 TruthInSunshine
Thu, 08/25/2011 - 18:11 | 1601853 macholatte
macholatte's picture

Obama is the perfect puppet for TPTB (Buffet, Soros, Gates, etc) because he has a Marxist mindset and is a political animal where the puppeteers are into it for money, power and control. In a totalitarian regime, the people who really benefit are the top level bureaucrats and the very wealthy. Feeding the Useful Idiot whatever he needs to keep him going while raiding the cookie jar is the method of operation. Just look at the Obama Czars, their Communist mindset, and that O gets all his "advice" from the Center for American Progress (Soros). Now look at who sits next to him, his Chief of Staff Daley from JPM. The list goes on and on. He is a play boy at heart and is having a ball and who could blame him. He's going to parachute out of the White House and make many, many millions on phony book deals and speaking engagements very much like Clintons did.

 It's doubtful Obama has had an original thought at anytime in the past 20 months because he is so "protected" and spoon fed by his handlers.  Who wrote that piece on the "Nero in the White House"?

Thu, 08/25/2011 - 17:32 | 1601732 destiny
destiny's picture


I think you still believe in Santa Claus...  Buffet ain't a nice guy, NO ONE underestimate Buffet's plans, he ain't trying to get politicians off his back, he IS politics...and politicians are his servants...that s what the author says.   I have many doubts about THESE GREAT COMPANIES MAKING BILLIONS...legally !  

Thu, 08/25/2011 - 19:54 | 1602127 LongBalls
LongBalls's picture

Not fair to most Americans. Unfortunatley for most Americans things are so expensive with wages flat and jobs shrinking that they are working their rears off just to get by and don't have the time to try and figure out who is lying. Sadly for them it's most everyone since little to no one really understands the Federal Reserve enslavement system. Hell, that goes for the world not just Americans. They will figure it out soon though. Lets just hope they choose freedom over "free" food for enslavement.

Thu, 08/25/2011 - 19:56 | 1602133 Gotterdammerung
Gotterdammerung's picture

some of us may be stupid,... but if it wasn't for us,.... all of Europe would be speaking German and saluting a swatstiska!   My Brother works with a guy who has a cousin who he says is not stupid so there!!!!

Tue, 03/27/2012 - 01:44 | 2293526 jaffa
jaffa's picture

Clothing is a term that refers to a covering for the human body that is worn. The wearing of clothing is exclusively a human characteristic and is a feature of nearly all human societies. The amount and type of clothing worn depends on functional considerations and social considerations. Thanks.
Criminal Lawyer Toronto

Mon, 04/02/2012 - 02:01 | 2308960 jaffa
jaffa's picture

A business is an organization engaged in the trade of goods, services, or both to consumers. Businesses are predominant in capitalist economies, where most of them are privately owned and administered to earn profit to increase the wealth of their owners. Thanks.
click here

Thu, 08/25/2011 - 14:10 | 1600704 TheTmfreak
TheTmfreak's picture

I am actually (or was about a month ago) in the middle of reading Walden. I have two negative opinions about his writings.

 A. When he starts trying to act like a poet or somebody trying to be beautifully wordy, its boring and not my cup of tea. I fell asleep a many of times to his descriptions of his surroundings. I'd rather live it than read about it.

B. Some of his arguments are him just bitching and acting whiney. And even the ones that I agree with, many are very whiney and lack any real rational attack. Those obviously I find a little less annoying but his arguments come off really stale especially viewing how much has changed since his days. Here is an example.

At one point in time he bitches about why people feel the need to make a multi-state telephone line , or a train that goes 30 miles an hour "just to go thirty miles an hour." I can understand an argument saying we should (individually) ask what technology does for us and embrace it if it suits us rather than "just for the sake of."  Also he comes off as a communist one too many times for my tastes, however, in general its a good book.

Thu, 08/25/2011 - 14:41 | 1600914 eureka
eureka's picture

Everything has its time - and then it disappears.

RE: "the concept that the poor can become rich but that the rich can become poor.  It is this second part that is the most dangerous to social cohesion when it disappears."

Let's contemplate and discuss "social cohesion"... - not just today, but until we find a valid definition.

What is "social cohesion"? How can we have it - in a dynamic way, so it doesn't diappear, sucked up by power or bureaucracy? If Libertarianism is based solely on individual pursuit of happiness, how can it possibly create social cohesion?

I want to hear all your descriptioms of dynamic cohesion - if such a concept/model is at all a real possibility.

OR - is U.S. quite simply to big and too divided - ethnically, culturally, financially, territorially - to ever be socially cohesive, and therefore by definition destined to fracture?

Let's go a little deeper for a while. Let's see if we have any real brain power - and any real interest in each other's ideas - and thus by extension in community in general and this country in particular.

Thank you all. I await your intellectual contributions to our common potential for dynamic cohesion.

Thu, 08/25/2011 - 16:25 | 1601297 GoldBricker
GoldBricker's picture

Your question is an old one.

See Plato's Republic. Use the Allan Bloom translation.

Plato says that the state won't hold together if it's every man for himself, or a few in charge against all the rest. He holds that a form of organization arrived at by reason has the best chance, and says how he proposes to get there. He recognizes all sorts of concepts, including the value of division of labor and comparative advantage.

Thu, 08/25/2011 - 16:02 | 1601323 Temporalist
Temporalist's picture

First I think you should get a better definition of "Libertarianism" because it is not just about "individual pursuit of happiness" it is about the LIBERTY to do things even those that make you miserable too or even kill you as long as it doesn't hurt someone else or their property.

People take things for granted when it is right there all along.  The U.S. Constitution has been disregarded for too long but one day it will be the law of the land again.  Perhaps the Declaration of Independence is one definition of Libertarianism for you; as it points out it is about "rights" not "happiness" and without Rule of Law, which has been abandoned in most of the modern world, there can be no "social cohesion."

"We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness."





Thu, 08/25/2011 - 17:34 | 1601748 Random_Robert
Random_Robert's picture

Where this country has failed is in preserving the separation of church and state...  bear with me.

I'm not talking church in the Roman-Catholic, bible toting, mass on Sunday sense.

The church that has captured .gov is the church which espouses the "God's work" of one Lloyd Blankfein.

You must realize that these uber-rich sociopaths (the same ones who no posess adequate concentration of wealth that they effectively chart the course of society) are compelled to fight for the status quo only to validate their own self righteousness... It is a religion to them, and they are the high Priests.

Does the Catholic Bishop truly believe that his robe and collar are his ticket to heaven, even as he is sodomizing the alter-boy in the confessional booth? Without seeing into the mind of a sociopath, that question can never be answered.

This status-quo, which is so vehemently defended, either creates sociopaths, or it simply offers them the nutrient-rich environment to thrive.  Either way, it must yield to entropy.

The Constitution?  the Constitution is easily summed up in 3 bullet points:

1) Express yourself

2) Represent yourself

3) Defend yourself

Societal cohesion is born out of the underlying respect that everyone deserves these 3 liberties just as much as anyone else does...

Deny the sociopath the ability to "do right" by you, and you remove their power to corrupt society.



Thu, 08/25/2011 - 16:27 | 1601442 SteveNYC
SteveNYC's picture

Firstly, to be "in pursuit" can not lead to lasting happiness, the statement was flawed from day 1. The "pursuit" itself of something, anything, will ensure that you can not become "one" with that thing as the desire to have it clouds your inherent relationship with it. Even when one gets what one pursues, it is but fleeting. When the illusion breaks down, so does the temporary state of happiness. In order to be happy, don't pursue.

Secondly, there is limited understanding not just in this country but in all the world right now, about what we are. The fact that we are all linked, one, has been blown apart by the lies and misinformation rammed down our throats day after day after day by media, politicians, business leaders, neighbors etc. Until we realize what we are, "dynamic cohesion" is just a concept, a pipe dream. Our priorities as a race right now are all f*cked up.

Ok, that's my 2 cents.....

Thu, 08/25/2011 - 18:25 | 1601907 EvlTheCat
EvlTheCat's picture

To be "in pursuit" of something is subjective.  As a base case place a man in the woods with nothing but a knife and a string and tell him to survive.  If he does not choose to be "in pursuit" of satisfying his basic needs then he is as good as dead.  If living does not make you happy then that is because you cease to appreciate what the natural world has to offer, or you have been convinced that a reward awaits you in a better place after you die..  This is the crux of the problem complex societies create; ceasing to understand the beauty and necessity of the natural world and to appreciate our place in it.

Our society, dependent of fossil fuels, has made the pursuit of necessity an easy task.  Upon removing the need to pursue basic needs people create abstract necessities to pursue.  Our need to dominate our natural surroundings is a perversely abstracted concept at this point.  When you pursue abstraction then I agree you will never be happy.

At this point requiring our abstracted world to revert to some more balanced natural state is inconceivable.  Central planners still believe this can be achieved by force, through laws, and elite run bureaucracies.  All perversions for the need to dominate our surroundings instead of living in balance with it.

As to the second part of your statement, I tend to agree with it, but on a cosmic scale as opposed to limiting it to a planetary scale.

My 2 cents...

Thu, 08/25/2011 - 19:02 | 1601987 narnia
narnia's picture

if history has taught us anything, it is that "social cohesion" cannot be mandated by force.  no one can make me like you or value what you value and vice-versa.  true "social cohesion" only comes when you and I come together voluntarily.  the more you try to make that involuntary, the less likely we are to peacefully coexist.

Thu, 08/25/2011 - 15:09 | 1601043 Imminent Crucible
Imminent Crucible's picture

Thoreau was not a communist, but rather inclined toward Transcendentalism with a taste of Anarchy. He lived in his cabin on Walden Pond from 1845-47, and published the book in 1854. Das Kapital did not appear until after the Civil War.

That's not to say that he and Karl Marx would not have found much in common, if they ever got around to spending a morning together at Starbuck's.

Thu, 08/25/2011 - 15:24 | 1601119 CPL
CPL's picture

while at starbucks they would rub body glitter on their bodies, straighten up their man purses and make sure their apple products were updated.  Once the whole gay affair was done, they would don their cardigans and corduroy jackets and give each other handjobs in the parking lot while mincing about how a committee to discuss the realization of south east asian farmers benefits the plight of the average north american post office worker...


Then Marx and Thoreau would give each other hand jobs again.


<ahhh, there we go...troll post complete>

Thu, 08/25/2011 - 17:44 | 1601772 ManOfBliss
ManOfBliss's picture

Good. Shut the fuck up.

***Takes big sip of java chip frappuccino while checking portfolio performance"**

Thu, 08/25/2011 - 18:09 | 1601847 disabledvet
disabledvet's picture

While giving hand job.

Thu, 08/25/2011 - 15:27 | 1601126 Diogenes
Diogenes's picture

Ha ha ha when Thoreau wrote  Walden the  telephone hadn't been invented and  Das Kapital hadn't been written.

This is sort of like the critic who complained Shakespeare used too many cliches and common sayings.

Thu, 08/25/2011 - 16:53 | 1601560 PistoleroPedro
PistoleroPedro's picture

My favorite part of Walden; he borrowed an axe and a shovel to build his cabin, and returned them two years later sharper than when he borrowed them. Give me a world full of people like that.

Thu, 08/25/2011 - 17:10 | 1601621 Monday1929
Monday1929's picture

People who keep borrowed items for two years?

Thu, 08/25/2011 - 15:38 | 1601194 orangedrinkandchips
orangedrinkandchips's picture

she is a clueless, nasaly cunt!

Thu, 08/25/2011 - 17:45 | 1601779 Dixie Rect
Dixie Rect's picture

Click on the annoying Obama 2012 banners, not to support the bunghole, but to make his campaign pay ZeroHedge per click. Won;t be long until Uncle Warren Buffoon's pic will be on the banners.

Thu, 08/25/2011 - 18:17 | 1601873 Freewheelin Franklin
Freewheelin Franklin's picture

But Becky Quick seems to think he is a charming old geezer.


I'm glad I'm not the only one that has noticed how Backseat Becky drools all over herself whenever she interviews Buffet. I thought it was just my sick mind.

Thu, 08/25/2011 - 13:52 | 1600581 fuu
fuu's picture


Thu, 08/25/2011 - 13:54 | 1600594 caerus
caerus's picture


Thu, 08/25/2011 - 14:02 | 1600640 Cash_is_Trash
Cash_is_Trash's picture

Sir, a golf clap for your effort

Thu, 08/25/2011 - 14:04 | 1600656 economessed
economessed's picture

Would someone with more talent than I have set this to music please?  It would be an excellent video as well.

Nicely done.  If you didn't already know it're a poet.

Thu, 08/25/2011 - 14:09 | 1600695 Transitory Disi...
Transitory Disinflation's picture

It started off in the tone of

Big Brovas - ~My favourite things.... then it went off course... no idea on the backing track.

Sometimes things just flow and other times it is a mess.

Thanks for you comment

Thu, 08/25/2011 - 17:09 | 1601617 Irwin Fletcher
Irwin Fletcher's picture

I imagined Biz Markie as I read it. Well done.

Thu, 08/25/2011 - 17:45 | 1601777 DaveyJones
DaveyJones's picture

very nice

Thu, 08/25/2011 - 19:32 | 1602060 DraginDickHedge
DraginDickHedge's picture

TD: Your talent is not Transitory...irreverently relevant and it rocks.  Well done.

Thu, 08/25/2011 - 14:31 | 1600853 whstlblwr
whstlblwr's picture

Pass this around facebook. Politicians need to see this, to see people are not stupid.

Thu, 08/25/2011 - 15:25 | 1601127 Transitory Disi...
Transitory Disinflation's picture

You are welcome to use it anywhere pal.  Just make sure credit goes back to ZH so people can awaken :)

Thu, 08/25/2011 - 15:41 | 1601188 whstlblwr
whstlblwr's picture

I like ^ your ode too, but speaking of "Wolf in Sheep's Clothing." Krieger post need to get around.

Thu, 08/25/2011 - 15:42 | 1601217 orangedrinkandchips
orangedrinkandchips's picture

yeah, Krieger is en fuego on about the old fart....worthless as teats on a boar!


So much good shit on this one article...when it rains it pours!

Thu, 08/25/2011 - 15:52 | 1601266 whstlblwr
whstlblwr's picture

This is part I like

The term wolf in sheep’s was invented for guys like this. Like most people out there I don’t like bad guys. The trick; however, is that the most dangerous bad guys don’t come out and tell you they are bad guys and how they are going to fleece you. What they do is pretend they are the good guys. Pretend that they are on the side of the little guy or working for the “collective good,” which is a preposterous statement because there is no such thing. Human desires and notions of what is a good life are as varied as the stars in the sky. Once we start allowing officials or rich people to define “collective good” you can be sure we are finished.

Thu, 08/25/2011 - 17:47 | 1601787 DaveyJones
DaveyJones's picture

criminal essence.

Thu, 08/25/2011 - 15:41 | 1601208 orangedrinkandchips
orangedrinkandchips's picture

Good one homie! BE CAREFUL what you wish for....awakening is not neccessarily a good thing for most....ignorance is


The Greek Plays...written hundreds of years ago tells it all...Oedipus Rex....shit never changes...


Thu, 08/25/2011 - 15:15 | 1601078 tekhneek
tekhneek's picture

a friend of mine's really good at rapping and a close friend is a dubstep producer.. i'll see what i can do.

wonder if banzai can make the cover...

Thu, 08/25/2011 - 16:13 | 1601378 Whalley World
Whalley World's picture

"Because man messed up the media dressed up, lies perpetrated as truth and it left us confused.  But I'v seen it all before from Babylon to the third world war"

Kool Moe Dee - Back on the Block (Grammy Winner)

Thu, 08/25/2011 - 14:08 | 1600683 wang (not verified)
wang's picture

outstanding now put it to an NWA track

Thu, 08/25/2011 - 15:22 | 1601098 JW n FL
JW n FL's picture

needed a lil more upbeat, beat.. but good call on NWA!



Thu, 08/25/2011 - 16:09 | 1601354 orangedrinkandchips
orangedrinkandchips's picture



Waht ever happened to Yella and Ren???


"brother's got it bad cause Im brown!! with a little bit of gold and a pager!!"





Thu, 08/25/2011 - 16:11 | 1601367 orangedrinkandchips
orangedrinkandchips's picture



enough EZ!!!!

Thu, 08/25/2011 - 16:50 | 1601547 TruthInSunshine
TruthInSunshine's picture

Buffet's living in a Gangsta's Paradise.

Thu, 08/25/2011 - 18:20 | 1601888 disabledvet
disabledvet's picture

It's not just that the President of the United States calls him but that same POTUS then starts talking about it as though the world's second richest man isn't playing Obama like a Strataverius. Most likely "the billionaire next door" has a massive CDS position courtesy of his buds at Swiss Re and he's already up 20 billion. Moyniham/n is an idiot if he's thinking " it's all about the deal" with Snowball. More like Beanball from where i'm sitting. The fix is in and the President is beimg played cuz the real money guys know they'll never see another like this one or this time again.

Thu, 08/25/2011 - 14:11 | 1600711 Downtoolong
Downtoolong's picture

Can you post the sheet music so we can sing it too?

Thu, 08/25/2011 - 14:53 | 1600968 Instant Wealth
Instant Wealth's picture

Wonderful !

If you need some more conspiracy stuff for your rhymes, check out the flipside of the Greek 1 Euro coin ... it has the "owl of minerva" on it (main illuminati symbol).

Thu, 08/25/2011 - 15:26 | 1601131 Transitory Disi...
Transitory Disinflation's picture

I will add this to the next one, cheers



Thu, 08/25/2011 - 15:41 | 1601212 V in PA
V in PA's picture

I have just ctrl-C ctrl-V your ode in an email to friends.

That was outstanding!

Thu, 08/25/2011 - 16:46 | 1601532 Sofa King
Sofa King's picture

Hey, poet laureate...11-11-11 = Binary triple three.  You can't take poetic licence with math.  Sorry, just not allowed.

Thu, 08/25/2011 - 18:24 | 1601900 Freewheelin Franklin
Freewheelin Franklin's picture

I stol'd it, bitchez.

Thu, 08/25/2011 - 18:31 | 1601918 YHC-FTSE
YHC-FTSE's picture

"All the elites will live on the space station"


+1 That line cracked me up. 

Thu, 08/25/2011 - 19:31 | 1602059 Crack-up Boom
Crack-up Boom's picture

Bravo!  An instant classic!   

Thu, 08/25/2011 - 23:34 | 1602844 stephysat28
stephysat28's picture

Thoroughly Entertaining!


Fri, 08/26/2011 - 18:59 | 1606030 Mentaliusanything
Mentaliusanything's picture

Now take that ODE and put it to music - get it out there and make it realistic

Time is short

Thu, 08/25/2011 - 13:53 | 1600568 SheepDog-One
SheepDog-One's picture

Its all just the Titanic slowly sliding under the icy Atlantic to its grave, with a few crew on deck yelling 'All is WELL! Do not panic! Here have a free drink and listen to the lovely band playing! At some point real soon the keel will snap and it will all plunge down fast.

Thu, 08/25/2011 - 13:51 | 1600573 Ancona
Ancona's picture

Uncle Warren wants to bid on our souls.

Thu, 08/25/2011 - 13:52 | 1600579 caerus
caerus's picture

nice thoreau takedown

Thu, 08/25/2011 - 13:53 | 1600583 Atlantis Consigliore
Atlantis Consigliore's picture

He s also a pimp;  note hosting the re election campaign Sept 30

featuring ex gnome of Washingmachine Austin Foolsby;  ex economic

Keynsian turbo treasury/advisor and Printer from Inflation and theif;

from Bullworth:  "the people got their problems da have da have nots;

but the ones make me listen pay my billion 30 second spots"


Let me hear ya say tax increase,, pimp my ride,  bailout at 6% preferreds.


LOL  suckas


Thu, 08/25/2011 - 21:37 | 1602446 Slewburger
Slewburger's picture

Yea no shit LOL...

Revenue shrinking, negative profit margins.

Motherfucker is buying insurance. He knows BOA will get a bailout when it takes the inevitable shit. Likely buying puts already for the next leg down.

I though that old cunt wanted us all to buy treasuries.. even if they had negative real yields.


Thu, 08/25/2011 - 13:53 | 1600590 Eagle Keeper
Eagle Keeper's picture

Damn...  And MSM is sayin Buffett has called the bottom!  Buy Buy BUY! 

Thu, 08/25/2011 - 13:54 | 1600591 baby_BLYTHE
baby_BLYTHE's picture

Warren Buffett on Gold

It gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.

It is going to be legendary when Hyper-inflation wipes out a good chunk of Buffett and other billionaries networth!

Thu, 08/25/2011 - 14:11 | 1600710 Stoploss
Stoploss's picture

Research Howard Buffett, all questions will be answered, and the true light shown on Uncle Warren.

Thu, 08/25/2011 - 17:15 | 1601655 Irwin Fletcher
Irwin Fletcher's picture

Interseting. Uncle Warren just doesn't seem like the rebellious type...

Thu, 08/25/2011 - 18:38 | 1601934 YHC-FTSE
YHC-FTSE's picture

From the little I dug up, Howard Buffett seemed like a decent guy. An old fashioned compassionate libertarian -  Ron Paul / Dennis Kucinich of his time. 

Thu, 08/25/2011 - 19:24 | 1602041 kubrick007
kubrick007's picture

yea i'm sure u and ur $40k per yr expertise are gonna go places, and buffett will suffer. 


is it me or is everyone here on crazy pills! also why all the warren buffett bashing. i'll take his morals over anyones on wall street any day of the week. & there is no option. either there will be a dickhead wall street goldman sachs version or if we are lucky, the buffett version.


perhaps in his old age with his power, he decides to use it. but he made his money picking stocks. r u guys all telling me that if u make 25% a year annually from reading books u r evil? would u like to get rid of the capital markets altogether or reverse them from the fraudulent HFT bullshit that is exactly the opposite of what buffett believed in? 


btw, all of u guys who love to quote buffett about gold (I am a big gold bug as well)....u r missing the point. if anyone here could make 25% annualized for 30 yrs, gold would be a laughable investment. we all love it here because our personal cost of capital is likely under 3% and after inflation it is negative....r u telling me that if u could buy $5 million worth of any asset, u would pile it all into gold instead of opening a business and buying $250k gold for insurance? this place went from super sharp comments to run of the mill idiots. it's like fox news in this bitch

Thu, 08/25/2011 - 13:54 | 1600596 nah
nah's picture

just a man and his philanthropy

Thu, 08/25/2011 - 15:52 | 1601271 Oh regional Indian
Oh regional Indian's picture

That is some heeeeavvvvy irony there, nah. I mean yeah, nah. 

SOmetime (2 months) ago, a mail forward came my way through the Grandpa network, those ceaseless forwarders of spam..... it was a really cleverly, down-home style power-point, all about newspaper delivery boy growing up through his hard work and dedication and rootsyness and great heart and ukelele strumming to become one of th erichest men in the world.

It had been breathlessly gushed on by every forwarder (you know, how it nests 50 replies down.

Hats off to Buffet. India needs more Warren Buffets. C'mon India, why can't a nation of 1 billion produce one Buffet?

Like that. And I thought it was a brilliant PR work, who-ever did it. 

Sur eploished a turd into a brilliant piece of Clonedyke! ;-)


Thu, 08/25/2011 - 13:56 | 1600599 SirIssacNewton
SirIssacNewton's picture

The Fourth Turning can't happen soon enough.  I'm so tired of Mr. Buffett eating the whole Buffet.

Thu, 08/25/2011 - 13:55 | 1600602 Bearish News
Bearish News's picture

'Boy I sure do love soda pop and America - NOW GIMME THE FUCKING MONEY BITCH!!'

Thu, 08/25/2011 - 13:57 | 1600609 john_connor
john_connor's picture

The last time Buffet made an investment in a TBTF, ie GS, the market proceeded to fall approx. 25% in just over 2 weeks.  Just sayin'

Thu, 08/25/2011 - 14:26 | 1600824 NotApplicable
NotApplicable's picture

And he managed to get 10% out of GS. To only get 6% from BoA must mean he's gonna need a return favor someday.

Thu, 08/25/2011 - 13:56 | 1600611 IMA5U
IMA5U's picture

great write up    like most ambitous egotistical men, when they get old all they care about is "legacy" and their morals go down the toliet


btw fellas, as funny as "bitchez" is, this blog would probably have more credibility if you all stopped using...



Thu, 08/25/2011 - 13:58 | 1600620 SheepDog-One
SheepDog-One's picture


Thu, 08/25/2011 - 14:02 | 1600636 Tyler Durden
Tyler Durden's picture

Zero Hedge has a (goldi)lock on credibility. We certainly don't want any more, or else Econ. Ph.D. will get their (and their 20 year old girlfriends') panties in a bunch over us taking ourselves too seriously.

Thu, 08/25/2011 - 14:18 | 1600687 TruthInSunshine
TruthInSunshine's picture



Roubini can't trade his way out of a paper bag, and he's high on the Keynesian Dogma Punch.

As I've said, Keynes was brilliant, IMO, but in the relative field of atrocious batting averages held by economists and economic theorists, even Keynes would have a lifetime batting average of about .102

Roubini legitimately believes that government stimulus, which now looks like so much wasted time and effort, worked, and cites to some pretty awful 'research' to support his tenuous (at best) conclusion.

Hayek says "take your medicine, Nouriel...take your medicine now, lest you get far sicker later."

Thu, 08/25/2011 - 14:58 | 1600984 ReactionToClose...
ReactionToClosedMinds's picture

read Schumpeter ..... the prophecy (although Schumpeter makes clear he is not 'prophesizing' .... just analyzing ) will set you free .....


WSJ years ago tried to get 'beyond' Mutual of Omaha Buffett's 'folksy' public persona.    Very carefully written and positive ... but what the public seees versus may bee the 'reality' ..... well maybe different.


Interestingly, it is the only time I've seen any media try to 'look' at Buffett differently.  WSJ was roundly attacked by Berkshire shareholders who did not enjoy their icon getting some reality ...

Thu, 08/25/2011 - 15:02 | 1600996 eureka
eureka's picture

What if stimulus went to R&D, education, domestic manufacturing and infrastructure - i.e. real and immediate job creation with real long term growth potential - in stead of going to (stimulating) the Faith Based Casino Capital Collective Banks and Hedgefunds and other Elite Betting Instruments in NY & London.....?

I.E. - what if stimulus went to the people and the nation - in stead of the globalist elite - would it still be "bad"?

Did Keynes actually believe in and advocate stimulating banks?

Isn't it rather the Anglo-Saxxon-Jewish bankster machine method - that orchestrates "stimulus" to itself by controlling "FED" and "Central" Banks - i.e. PRIVATE CAPITAL COLLECTIVES merely using "government" apparatus for their private purposes?

And therefore - why keep bashing old Keynes - rather than the current rich elite - and exposing its methods = and publishing a list of its inner circles?

Who has the guts - to move forward, from old cliches to real and current information?

I know that you, Truth, are intelligent and devoted to let the sun shine on these issues, so what say you to these specific points I here raise? Should we not all pursue specific facts rather than ideological truisms? And are my questions above not to such specific point and relevance?

I await all light from you and anyone else here. Thank You.

Thu, 08/25/2011 - 15:49 | 1601257 Rodent Freikorps
Rodent Freikorps's picture

Are you trying to say greed and corruption was invented by Anglos, and Jews?

You need to get out more.

Thu, 08/25/2011 - 19:02 | 1601991 ToddGak
ToddGak's picture

Way to completely miss the point of his post.  Maybe try reading it again.

Thu, 08/25/2011 - 15:58 | 1601296 Dyler Turden II Esq
Dyler Turden II Esq's picture

GREAT questions.

And would it not be true that if Keynesian stimulus went toward R&D, education, domestic manufacturing, infrastructure. etc. -- AS IT IS DOING IN CHINA -- then we would end up with a very different picture than the one we are now facing?

A question I have often posed to anti-Keynesians, but never (EVER) gotten a coherent and convincing reply:  "Does it matter what the money is spent on?"   For example, does it make any difference if the money is:  1) all put through a paper shredder and then composted, VERSUS 2) spent on infrastructure and the development of productive capacities, human capital, etc.?  Any difference at all?

Anti-Keyneians seem to be obsessed with the fact that money is being spent, (possibly a good and useful obsession; I don't know), while being blind to this equally-important matter.


Thu, 08/25/2011 - 16:09 | 1601360 NotApplicable
NotApplicable's picture

How many empty strip-malls, houses and other wastes of resources have to be created before you notice they are not needed? China is building entire empty cities in order to keep up the "growth" story. Meanwhile, the price of everything that required for something needed, say like a hospital, is now higher, hurting everyone who benefits from it.

One man's infrastructure is another man's pyramid. If infrastructure is truly needed, then it will pay for itself through private investment, as it presents opportunities to meet human needs (resulting in profits, and a higher standard of living). Or it would, if the monetary world had not been destroyed via fractional-reserve, central banking.

Worse yet, it's all borrowed "money," and each of us is born into bankruptcy in order to pay the price.

Thu, 08/25/2011 - 16:45 | 1601518 Dyler Turden II Esq
Dyler Turden II Esq's picture

Your view is narrow, IMO. You are looking at only a few tabloid horror-story excesses -- which may in a short few years prove not to be excesses at all. Meanwhile, the total picture, as I alluded to in a post below (a screenful or so down), is much different. The Chinese are investing in critically important infrastructure and capacities that will be desperately needed in the coming century. The time to make huge investments in alternative/renewable energy, in water systems, in reforestation, and many other things, is NOW. These are the things on which will rest any semblance of prosperity in the coming age of resource depletion and environmental stresses. In a nutshell: the Chinese are doing it, and we aren't. And we will suffer greatly for that stupidity and short-sightedness. Sorry, I wish I could believe that the private sector will provide all the needed energy and capital to undertake these things, but I don't. It hasn't worked that way in the past, and it is unlikely to do so now.

Thu, 08/25/2011 - 17:06 | 1601607 Dyler Turden II Esq
Dyler Turden II Esq's picture

PS: Anti-Keynesian ideology WILL prove very good and useful, surely, to the oligarchs when the time comes (very soon!) to neo-feudalize America, taking a meat-cleaver to social security, medicare, food stamps, etc., etc. -- all that tewwible tewwible Keynesian stuff -- and then restoring debtor's prisons or concentration camps, rolling-back child labor laws, completely destroying the unions (what is left of them), abolishing OSHA, and so on.

Thu, 08/25/2011 - 17:47 | 1601788 New_Meat
New_Meat's picture

TurdenII Esquire:

' "Does it matter what the money is spent on?"  '

You are apparently taking the Keynsian (or current implementation of the Lordz propositions) and playing in the negative.  You believe that it doesn't matter, as long as money gets injected into the system to "expand".  N'est ce pas so far?

I'll take the affirmative-->it does matter what the money is spent on! [FN 1.]


  1. Money is placed into the shredder without printing-deflationary, not good nor effective, no,
  2. Money is printed then placed as No. 1 above, nein.
  3. Money is borrowed and either 1 or 2 above, non.
  4. Money is borrowed and passed on to non-productive government entities (like all of them, some of them are worth paying for their 'services.'), engin,
  5. We pause for some math: Y=C+I+G or GDP+"Investment" [FN 2.] + Government spending matches up with the productive economy plus "borrowing".
  6. Money is borrowed/printed and passed on to the incumbent  party's fund raising constellation that distributes bread and circuses with just a small little 2% 'contribution' to those folks doing such good work in Boston and DC. nyet.

I haven't seen any useful outcome so far.  Have you?

Now, before proceeding, you should check out GW's cosmic ray thread and see the uses that the government spending has had; government-directed 'science.'  And I must now challenge your assumptions and your premise:

a) where were the shovel ready infrastructure projects?  They were supposed to do the stimulus that you suggest is beneficial.  Oh, wait, our shovel ready President wasn't so ready.

b) development of productive capacities?  Please look over the EPA, NLRB, DOR, ... regulations that counter your convenient but narrow point of view.

c) please explain how the government develops human capital.  I'd like your views; I have some experience and witnesses to same.  However, please explain the "College Scam" both private and public "college" entities who are exceeding the rate of inflation.  But college is not the only way to develop "human capital"--WWII was won by U.S. average eigth grade education (not to say eighth graderz in current incarnation).  They were tough, adaptable, willing to sacrifice, ...

d) institutions that develop human capital have been challenged by folks on your (apparent) side, (at least of this discussion).  A concerted attack from many directions, but that culture discussion is associated but not primary here.  I present the Boy Scouts of America as an exemplar of this.  I know that  the misguided children still build 'em right.

But in conclusion, I reject your basic premise that the good comes through taxing productive individuals and corporations so that the government entities at all levels can do bettter.  First, because the benefit is skimmed through the system, second, because the decision making process with money and careers that are at risk in the private sector is utterly missing from the public sector "decision making".

Blind?  We've seen repeatedly that the approach you commend is fubar.  But probably no one challenged your basic premise.

- Ned

[FN 1. - prepositions are bad words to end sentences with]

[FN 2. - Thanks Lackoff for the language perversion,  but you have to do it to be compatible with your environment and worldview]

Thu, 08/25/2011 - 20:41 | 1602002 Dyler Turden II Esq
Dyler Turden II Esq's picture

New_Meat: "You are apparently taking the Keynsian (or current implementation of the Lordz propositions) and playing in the negative. You believe that it doesn't matter, as long as money gets injected into the system to "expand". N'est ce pas so far?"

No. Sorry, but you're missing my point completely. I am saying that it DOES matter.  It is the anti-Keynesians who seem to think that it doesn't matter (or at least behave AS THOUGH that is what they believed). Please read my posts -- about four of them, in the immediate vicinity of this one.

Generally, your reply is a good reflection of the frustrations I've had trying to talk to anti-Keynesians. I ask a simple  question, and I give a clear example (China), but they seem not to comprehend it, and they talk circles AROUND it, but never get around to addressing IT. Your (rather long) post is a good example of this.

It seems that I am asking a question that is orthogonal to the Anti-Keynesian Worldview (AKW).  The AKW seems exclusively concerned with denouncing the idea of the state spending money in order to stimulate the economy. Maybe they are right; that is not the question I am raising. My question is orthogonal. It asks: if money is in fact being spent (and it is) -- WHETHER OR NOT IT IS BAD, IN PRINCIPLE, TO DO SO -- then does it matter the use to which it is put?  It seems that, because of that strange orthogonality, the AKW crowd is incapable of even SEEING the question, as though it did not exist.

Similarly, we could debate whether or not Bill Gates achieved his fortune by ethical and acceptable means. There's a fair case to be made on both sides of that. But, apart from that matter -- orthogonal to it -- is whether or not his fortune (however it was amassed) can now be put to good use.  Does it matter how Bill Gates' money is spent? Does it matter if it goes for vaccines against childhood diseases, or if it gets ground up and used as compost? Is there any difference between those two uses?

PS: "c) please explain how the government develops human capital." -- very good question, about  which much could be said. There are many ways that a government can develop human capital.  In the PRC, after the revolution, it was developed in the most fundamental of ways, by improving basic health infrastructure (hygiene, clean water, etc.), by providing basic medical care to large populations that had never had it, by greatly expanding basic education and literacy, and in many other ways. The result was dramatic improvement in the health, cognitive ability and general functionality of the Chinese people. That's a great success story, which could no doubt be matched by failure stories.  But  you asked, so I answered. Briefly.


Thu, 08/25/2011 - 19:32 | 1602064 Kayman
Kayman's picture

 "Does it matter what the money is spent on?"  


Assuming the source of capital is debt or money printing, then the cost of money (interest or imputed interest) needs to be paid, plus return of capital.

To the extent that scarce savings or money printing (theft from future generations) are wantonly dumped out the back of a truck, then you get what we have today- that last hurrah of a dying Ponzi scheme.

Thu, 08/25/2011 - 19:59 | 1602144 Dyler Turden II Esq
Dyler Turden II Esq's picture

You say "YES, it matters", but then follow that with two paragraphs which suggest "NO, it doesn't" because it is all just bullshit money-printing, ponzi-nomics, whatever. Hey, maybe you're right!  Maybe it IS all just crazy-ass money-printing ponzi-nomic bullshit!  But my question stands:  DOES IT MATTER WHAT THE MONEY IS SPENT ON?   Do you understand?


Thu, 08/25/2011 - 16:00 | 1601315 NotApplicable
NotApplicable's picture

You're engaging in wishful thinking here. Look at what you're really asking.

"What if criminals directed the stimulus to R&D, education, domestic manufacturing and infrastructure - i.e. real and immediate job creation with real long term growth potential - in stead of going to (stimulating) the Faith Based Casino Capital Collective Banks and Hedgefunds and other Elite Betting Instruments in NY & London.....?"

Now why would criminals ever choose to do this? Or better yet, even if they did, how could they possibly get the money to where it is best used, when they have no skin in the game? Can one political operative really replace the decision making process of millions of producers? How could they ever possibly know? Only individuals who will suffer losses for bad decisions have any ability to determine rational allocation of resources. Their resources.

Thu, 08/25/2011 - 16:11 | 1601369 TruthInSunshine
TruthInSunshine's picture



[In British Wimbledon, Line Judge Voice]

Point for NotApplicable.

Thu, 08/25/2011 - 16:31 | 1601466 Dyler Turden II Esq
Dyler Turden II Esq's picture

You assume that all political leaders are and must be criminals. Hey, just because that is the case in our neck of the woods does not mean it has to be that way everywhere, at all times! As I said above: look at China. They are directing MASSIVE stimulus into infrastructure, jobs, etc., etc., and so far it is working. For them, the 2008 crash was a mere speed-bump, and they are back up to robust growth. At least so far -- and it is going on three years now. Yeah, maybe it won't last. In fact, surely it won't. They will take a hit of some kind; no one can grow like that, indefinitely, especially given other fundamental constraints. But the issue is: what kind of shape will they be in on the other side, after the hit? And my answer is: almost surely a hell of a lot better shape than us! Our "Keynesian" spending is very largely pissed-away on bullshit: military/industrial excesses, medical/industrial excesses, the banks and fraudsters, and other crazy misallocations. Whereas their (China's) spending is on core infrastructure, productive capacity, education, environment/resources, and so forth. Notably, China is spending megabucks on alternative and renewable energies, and on environmental projects (e.g. the Green Wall), that will be critically important in the coming decades and indeed centuries. They CANNOT FAIL to benefit greatly from this forward-thinking investment. Denounce it as dirty rotten cock-sucking Keynesian statism, or whatever you like, but the reality is that they will bury us over the next generation, because they have vision and are not shy about putting the bucks into the vision.

Thu, 08/25/2011 - 17:53 | 1601803 New_Meat
New_Meat's picture

Turden, lawyer

"They are directing MASSIVE stimulus into infrastructure, jobs, etc., etc., and so far it is working."

As an Esquire, you probobaly don't know the difference between a "command economy" that measures GDP on its inputs vs. economies that measure GDP on their outputs.

I'll boil it down for ya.  My local Pizza shop (kidz outa' Easta'bos) started this great local place, but went through a period where they kept burning  the calzones.

Input := $5.00 or so.

Burned calzone := zero.

Not the way they figure stuff out in PRC.

don't cha' know.

- Ned

Thu, 08/25/2011 - 19:14 | 1602021 Dyler Turden II Esq
Dyler Turden II Esq's picture

I'm not a lawyer, fyi.

Yes, there are different ways of measuring GDP, but they should  arrive at nearly the same number, if performed correctly.

What are you saying?  That China's GDP numbers are not real?  I've sometimes  wondered that myself.  They seem to be growing too  fast. But I don't know how to effectively challenge the numbers. It might take a lot of digging to get to the bottom of it, and determine if there really IS something wrong with the numbers. For now, I accept them as given in all standard reference sources (which I assume to be more or less vetted). The fact that China is a "command economy" (in some respects, anyway) should not alter any of this.


Thu, 08/25/2011 - 19:50 | 1602115 Kayman
Kayman's picture

Dyler Turden II Esq

The fact that China is a "command economy"....should not alter any of this.

O.K. And while you are at it, ask Madoff if he still has your money.

Thu, 08/25/2011 - 20:48 | 1602293 New_Meat
New_Meat's picture

many pig-fuckers cleim false titles-u b among them, don't cha' know. -  Ned

Thu, 08/25/2011 - 17:40 | 1601746 Irwin Fletcher
Irwin Fletcher's picture

eureka, regarding your question of what if stimulus went to R&D, education, I can provide a partial answer from personal experience. In my former research laboratory, ARRA funds were used to hire a senior researcher. After three years the funds expired, people had to leave the lab, and in doing so they qualified for unemployment. In this case no one claimed unemployment, but they did qualify for it because the departures were due to lack of funding. Overall the stimulus created a temporary excess of jobs and training, and after its retraction, a number of highly trained people had to change careers, often becoming underemployed or unemployed. Where do some go? Think fangs and tentacles. Too much 'stimulus', even applied to good things, should not be used as a substitute for sustainable long-term policy. Researchers and educators who survive the triage can become addicted to it as well, and are prone to vote for whoever promises to send the most of it their way.

Thu, 08/25/2011 - 17:51 | 1601797 Random_Robert
Random_Robert's picture

I think I KIND OF agree with your points, insofar as there is an awful lot of Keynes-bashing these days, and Keynes is dead.

Blaming a dead man for the low caliber decision making prowess currently in place is seems to be mis-guided

I can't blame Keynes for the fact that Roubini, Krugman, and Bernanke are highly educated, yet uber-myopic, short sighted fools.

Nor can I blame him for the fact that they seem to think that worshipping at his alter will somehow vindicate their crazed short sightedness.

Keynesianism is a religion. Instead of living based on the principle of the idea, instead we (they) idolize and worship the man.

Let's just call Krugman, Roubini, and Bernanke Apostles, write a book, and commence with the economic crusades already.




Thu, 08/25/2011 - 15:19 | 1601095 Kayman
Kayman's picture

The only medicine taken by our contemporary self-described Keynesians is to augment their purple haze.

Thu, 08/25/2011 - 15:40 | 1601202 TruthInSunshine
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Damn Dirty Central Banksters.


For as much flack as Keynes gets, the Church of Krugman HAS bastardized JM Keynes' teachings.

Exhibit A:

"Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose."

--John Maynard Keynes;  

The Economic Consequences of the Peace


John Maynard Keynes just yelled out that The Bernank is a moron, from his stately grave.


Thu, 08/25/2011 - 16:18 | 1601400 NotApplicable
NotApplicable's picture

Keynes the theorist and Keynes the realist are two very different people. Until I see otherwise, I've no reason to believe he wasn't just engaging in sophistry, promoting a theory in a world in which he knew it could never happen.

I've been wanting to read more Hayek lately. Now I've got a good reason to see what his opinion was.

Thu, 08/25/2011 - 19:59 | 1602142 Kayman
Kayman's picture

John Maynard Keynes = wealthy investor

Krugman = not so much

Thu, 08/25/2011 - 14:49 | 1600953 vast-dom
vast-dom's picture

Can you please turn that motherfucking frown upside-down Tyler, okay? Alright?


It's better to be BOTH right AND happy. Motherfuckers!


Thu, 08/25/2011 - 15:21 | 1601102 CompassionateFascist
CompassionateFascist's picture

You have to frown when you've just been hit with a hard right cross.

Thu, 08/25/2011 - 15:00 | 1600999 Mactheknife
Mactheknife's picture

Apparently, the concept has escaped the grasp of some. It's like this:

Welcome to fight club...bitchez

Thu, 08/25/2011 - 15:01 | 1601005 zenbones
zenbones's picture

Take that, Bitchez!

Thu, 08/25/2011 - 14:35 | 1600874 dropdeadfed
dropdeadfed's picture


Gold The Fiat's Opposite


Thu, 08/25/2011 - 15:34 | 1601171 JW n FL
JW n FL's picture





great write up like most ambitous egotistical men, when they get old all they care about is "legacy" and their morals go down the toliet


btw fellas, as funny as "bitchez" is, this blog would probably have more credibility if you all stopped using...




We are NOT! here to get along..

We ARE! here to lead the Country out of the Darkness that has fallen..

We are NOT! here to be reasonable..

For all change IS! dependent on the UN-Reasonable! 

Your white lies..

Your polite protest..

NONE! of these things have allowed for any improvement in Quality of Life for the Majority.

In Fact, painting posters, marches and sit ins have been NOTHING but comic relief for the Banksters on Wall Street!


Voting with Bullets will soon be En-Vogue!


Congratulations Wall Street!! You have brought the fury of the Masses Upon Yourselves!


Thu, 08/25/2011 - 15:41 | 1601211 JW n FL
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Uploaded by on Aug 25, 2011

This time Max Keiser and co-host, Stacy Herbert, discuss the Fainting Bankers of Wall Street and the myotonic markets they inspire. In the second half of the show Max talks to Chris Martenson about the insolvency of the banking system and about Dr. Bernanke's misdiagnosis of the cause of the financial crisis.

Thu, 08/25/2011 - 17:41 | 1601762 ManOfBliss
ManOfBliss's picture

No. We would have more "credibility" if you'd fucking leave.

And anyway, fuck credibility. Why the fuck are you worrying about what outsiders think?

Thu, 08/25/2011 - 13:57 | 1600615 GiantWang
GiantWang's picture

Interactive Brokers raising gold margins again overnight . . . .

Thu, 08/25/2011 - 14:24 | 1600817 geminiRX
geminiRX's picture

Thus far, it seems priced in (gold price not affected)

Thu, 08/25/2011 - 15:13 | 1601062 tekhneek
tekhneek's picture

What'd that german farmer say again?

Money is money and paper is paper? I think this will be the rule of thumb for some time now.

They'll hike margins on Monday-Wednesday after gold gets crushed tomorrow. Get ready to cash in for some cheap gold next week...


Thu, 08/25/2011 - 14:36 | 1600884 Gringo Viejo
Gringo Viejo's picture

"As far as margin rates are concerned, they will rise to cash on both gold and silver before either sees full valuation."

Jim Sinclair 08-24-11


Thu, 08/25/2011 - 13:59 | 1600619 Caviar Emptor
Caviar Emptor's picture

Here's what explains it all: As if by total coincidence..............


Obama considering massive refinance program


......Or don't you get it already???

Thu, 08/25/2011 - 14:01 | 1600631 SheepDog-One
SheepDog-One's picture

Oh yea, thats should solve it!

Thu, 08/25/2011 - 14:04 | 1600659 Caviar Emptor
Caviar Emptor's picture

Don't ya see it? The timing was perfect: Bufffet 'buys the dip' just as DC floats a plan to save BAC through the back door with a massive stimulus plan. THey'll pay down mortgages from the taxpayer coffers and BAC will bank the coin. Hence Uncle Warren's "magical" idea to buy the preferred. To the day!!!!!!!!!!

Thu, 08/25/2011 - 14:12 | 1600671 SheepDog-One
SheepDog-One's picture

Its supposed to fool who exactly? 24 month free mortgage squatters?

Yea everyone was fooled by Buffet (not), now everyone will be again fooled by 'Here, we'll drop your mortgage rate by 1% on the house you havent paid on in 24 months'.

Wow everyone should buy into this with both hands! In other words, 'Nevermind the $3 trillion QE3 that wont be delivered thats already baked into equities, we'll announce some BS $85 billion mortgage rate reduction program that accomplishes absolutely nothing' and that will somehow 'trick' people...yea whatever well not me.

Thu, 08/25/2011 - 14:17 | 1600771 Caviar Emptor
Caviar Emptor's picture

Yeah. But meantime, The "Oracle" (not) walks off with a crony capitalist trophy wet dream: a few quick cool billions made through trading on what amounts to insider information. Not much different thatn Ivan Boesky, just Washington-based instead of Wall Street based info. 

Thu, 08/25/2011 - 14:20 | 1600792 SheepDog-One
SheepDog-One's picture

Well Buffet has always been an inside trader.

Thu, 08/25/2011 - 14:26 | 1600831 Caviar Emptor
Caviar Emptor's picture

Yes. Only his defense is : I got my info from the Pres. Gonna make something out of it??

Thu, 08/25/2011 - 15:55 | 1601280 V in PA
V in PA's picture

The profit has already been spent on Obama reelection. This was Obama using Buffett to raise campaign cash. Buffett buys up all the $35k tickets and hands them out to friends.

Thu, 08/25/2011 - 14:09 | 1600698 NumberNone
NumberNone's picture

The possibilities are endless on what was discussed between Obama and Oracle 2 days ago.... 

Thu, 08/25/2011 - 14:19 | 1600784 Caviar Emptor
Caviar Emptor's picture

Yes! And the BAC preferred deal is "payback" for such wise advise. He sees no conflict, no ethical dimension to it at all. He's entitled to the money for "saving America" 

Thu, 08/25/2011 - 14:22 | 1600800 SheepDog-One
SheepDog-One's picture

I dont buy it in the first place, this story that Buffet suddenly reached into his pocket to bail out BAC...he's just a bagman delivering the backdoor bailout for a few, and BAC is headed down anyway.

Thu, 08/25/2011 - 14:04 | 1600658 Cash_is_Trash
Cash_is_Trash's picture

Subsidize the fuckers!

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