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View Diary: False Prophet Slobbering: Buffett The Fox in The Chicken Coop (198 comments)

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  •  I have a friend who manages a hedge fund (5+ / 0-)

    - he's nowhere in the league of Buffet and is pretty libertarian. He is a good guy, but his economic beliefs are insane. He thinks the minimum wage should be decreased. His family is from South America and he doesn't connect this point - if you annhiliate the masses, they will come to get you. I try to tell him that even if the mega rich just gave crumbs, it would be enough to avert eventual unrest.

    It's funny that so many from South America who have seen what happens when inequality gets to skewed don't believe it can happen here, so they try and get back to that idea of punishing the poor to enhance themselves. It makes me sick, and it's a beacon of shortsighted stupidity.

    •  Buy him this book to remind him (4+ / 0-)
      Recommended by:
      Marie, Cato come back, 3goldens, Justina

      Dancing with Dynamite

      It's an absolutely dynamite (no pun intended) read on the social democratic movements in South America that should really resonate with your friend.

      The U.S. economy is on an unsustainable path right now, but not for the reasons that the Republican Tea Party would have you believe.  It's got nothing to do with government spending -- or lack thereof -- and everything to do with income inequality.

      Tea Party manifesto: We're resigned to our collective fate because we don't want no stinkin' collective future with the likes of you

      by Richard Cranium on Mon Aug 15, 2011 at 09:19:24 AM PDT

      [ Parent ]

    •  Of course he's a libertarian. We really should (3+ / 0-)
      Recommended by:
      3goldens, Justina, happymisanthropy

      have nationalized the bankrupt banks and brokers and let all those asshole "libertarians" tumble down the economic ladder to food stamps and unemployment lines.

      •  What's funny is that he said (1+ / 0-)
        Recommended by:

        "The gov't had to do something...if they didn't regular people would have been hurt..."

        Har har har. Regular people have a median of 20K or so in 401K as another diarist pointed out several days ago. That's not enough to live on for a full year.

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