Re: Charlie Munger of Berkshire Hathaway--Perhaps reassessment needed?
Was Bloomberg out to, well, create a totally bad impression of him because he not only said the thing about people having to "suck it up" but also said things like the government should launch a massive infrastructure program to meet needs of the infrastructure and create jobs.
But, in the eyes of some, he said some far worse things. In the eyes of banksters and anti-Social Security fanatics, for example.
What did Munger say to tick them off? Munger covered a lot of ground in 2 hours but I’m betting it was one or more of the following which put Bloomberg and Zero Hedge on the attack:
- leave Social Security as-is.
[That might tick off the anti-SocSec crowd and deficit hawks, no?]
- the hedge fund guys need to start paying regular taxes rates rather than the 15% which isn’t even close to 15% after loopholes.
[Well, I can hear the screaming up in Hedgeland from here!]
- our current accounting rules are much too loose which will only lead to more trouble.
[Banksters and their enablers/supporters woudl not be happy with that.]
He’s a conservative pro-bank-bailout oligarch, so not my cup of tea. But compared to the Republicans and most of the Democrats in Washington DC, his comments at the Michigan event were a walk in the park. And on the topic of Social Security he tells it like it is: Social Security is a well run, low overhead, low fraud piece of our government which servers it’s purpose admirably.
If a Republican Oligarch can say "leave Social Security alone" then I gotta ask: Mr President, what’s your beef with Social Security?
Hhhmm..might be interesting to find out why the Bloomberg reporter emphasized just what he did....
To contact the reporter on this story: Andrew Frye in New York at email@example.com.
Can we trust none of our MCMers*? Must we read and watch every full news event ourselves, which, actually is impossible all the time. But things like this do make one even more chary of trusting our vaunted free press.
*MCMers -- Members of the Mainstream Corporate Media