Maybe Buffett Should Get Over It
September 25, 2010
– Comments (5)
Buffett to taxpayers: Get over your anger
Maybe if the stimulous was concentrated on mainstreet and no Washington and Wall Street, America would not be so angry?
Buffett knows that most of the debt in America is on mainstreet.........and if new credit is not being issued, then EXISTING debt will default and America will shut down...because most of America works on mainstreet.
Buffett's holdings are on Wall Street...and if he wasn't stimulated by billions and billions of taxpayer dollars, many of his holding would have gone broke......just like many of the private businesses have gone or are now going broke because there is no one their to stimulate or give them credit.
You don't hear Buffett protesting excessive executive public company compensation anymore....you don't hear Buffett talking about derivitives being financial weapons of mass destruction....
Basically you hear Buffett saying I got bailed out with Billions.....the heck with you, get over the fact main street didn't and America is shutting down.
Why should the private shopping center owner go broke but a public REIT have access to all the money it needs?
Buffett knows that mainstreet America and Public company America was both saddled with massive debt.......and now that only Wall Street got bailed out, mainstreet is dying. It must DIE, because there is simply not enough NEW MONEY being created to service the EXISTING Debt.
EVERY AMERICAN SHOULD BE ABLE TO BORROW MONEY AT PRACTICALLY NO INTEREST, UNTIL THE BANKS START LENDING AGAIN.....BECAUSE IF THE BANKS ARE NOT LENDING, IT IS IMPOSSIBLE TO SERVICE THE INTEREST OF EXISTING DEBT.
And Buffett is telling America to get over it? If EVERY American got billions like he did, my guess is most Americans would get over it.
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