Buffet the Poor
Posted by feww on May 25, 2008
Warren Buffet: World’s biggest moneybag [AND CO2 producer]
The United States is in a recession, one that will be longer and deeper than most people expect, said Warren Buffet, the world’s biggest moneybag.
“[T]he people are already feeling the effects,” said Buffet. “It will be deeper and last longer than many think.”
The world’s moneybags have only one goal in mind: To make more money than everyone else, despite the environmental and social consequences. “If the world were falling apart I’d still invest in companies,” Buffet said.
Warren Buffet listens to a question during a news conference in Madrid May 21, 2008. REUTERS/Andrea Comas. Image may be subject to copyright. See RTSF fair Use Notice!
Invariably, they blame someone else for the ills they create. Buffet, as usual, blamed the derivatives market.
“It’s not right that hundreds of thousands of jobs are being eliminated, that entire industrial sectors in the real economy are being wiped out by financial bets even though the sectors are actually in good health.”
Buffet bemoans the “lack of effective controls,” as if the system ever had any.
“That’s the problem,” he said. “You can’t steer it, you can’t regulate it anymore. You can’t get the genie back in the bottle.”
Thank you for Lesson One, economy 101, Mr “B,” and may you live long enough to witness the full scale of the environmental and social catastrophes, the impact of your lot’s casino economy on the world. May you live in interesting times!
- Warren Buffet’s Net Worth: $62.0billion [Warren Buffet produced at least 30.628MMT of CO2 in 2007]
- Combined Net Worth of World’s Richest 100 : $1,725 billion
- No. of World’s Billionaires : 1,125
- Combined Net Worth of World’s Billionaires : $4,384 billion (source)
- No. of people who live on less than $2 per day: About 4 billion (Source)
- Emerging Food Crisis
- Food Riots Grip Egypt, Haiti, El Salvador
- Where Is All the Money?
- Out of Control: War Costs May Total $2.4 Trillion
- The Death of Homo Sapiens Sapiens (Part 1)
- Part 4. Exponential Growth Economy and Oil
- Food: Worse times ahead
- China Under Siege
- Wal-Mart, the Panther Chameleon and Josef Fritzl
- Nature: An NPO
This entry was posted on May 25, 2008 at 1:55 pm and is filed under environment, human rights, inequality, politics, poverty, US, wealth. Tagged: bill gates, billionaires, china, derivatives, Food Crisis, food riots, genie, money, moneybags, poor, Poverty Index, social consequences, starving, State of Our World, Wal-Mart, Warren Buffet. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.