Warren Buffet's Buyer's Remorse

Warren Buffet--who never seems to tire about telling he rest of us how under-taxed he is--seems a bit off-put by the President's zero-ing in on corporate jets as the new symbol of excess and wealth.  Seems the Oracle of Omaha owns "Net-Jets", a company that leases out portions of jet use by the hour. 

Iconic inflation book When Money Dies by Adam Fergusson Republished

Apparently Mr. Buffett has had this book in mind when warning about governments' over-reliance on stimulus packages. When Money Dies charts how the German economy was ruined by hyperinflation after the Weimar government allowed public spending to run out of control. By the way, used copies can be gotten from Amazon.com for $800 minimum.

Hat tip http://cunningrealist.blogspot.com/

Could Obama Be Losing the Sage of Omaha?

Tigerhawk links to a CNBS Squawkbox segment including an interview with Warren Buffet, talking about the new series of "bank taxes" being proposed by the Obama Administration. Warren's right, of course. What was done in the Fall of 2008 (by the Bush Administration, let us not forget) was done to save THE ECONOMY, not the "banks". The US economy was in free-fall, and the most efficient, most effective way to staunch the bleeding was to provid instant liquidity to the system through the banks. Those banks are now paying back that money WITH INTEREST (as it was intended from the beginning to be--let's also not forget that little fact). Warren's also right that the Obama Administration's tax is wrong--just plain wrong.

So Warren--how's that Faustian bargain feel now?