You gotta LOVE them Democrats! Al Gore, for example, not only invented the internet but also concocted the fraud popularly known as "Global Warming". Of course, he has slightly forgotten the facts and chosen to conveniently appeal to voter's emotions http://markostake.blogspot.com/2010/08/very-inconvenient-truth.html. Sorry, Al, but your nose is growing!
Now Harry Reid, soon-to-be outgoing Senator of Nevada is taking credit for single-handedly preventing a Global Depression. Ridiculous? Here is Mr. Reid telling us that: http://www.breitbart.tv/reid-but-for-me-wed-be-in-world-wide-depression/.
Mr. Gore and Mr. Reid brilliantly never allow the facts to get in the way. Mr. Reid's constituents, however, may politely disagree. New data on Las Vegas' economy would tend to cast a wee bit of doubt on his preposterous assertion.
Joblessness in Las Vegas reached a record 15% in September, even as unemployment in Nevada stayed unchanged in the month, according to new numbers from the state Department of Employment, Training & Rehabilitation.
Despite worsening local conditions, the state's jobless rate failed to rise for the first time since January. Unemployment in the Silver State stayed unchanged in September at 14.4% . On top of being the first stabilized state number in 2010, it's only the second time the jobless rate remained steady since the recession's beginning in December 2007.
Las Vegas also happens to be the home of the one of the absolutely worst real estate markets in the nation. Enquiring minds, especially the sagacious readers of "Marko's Take", wonder how Mr. Reid could possibly have had any positive effect on the entire planet, when the rather small town of Las Vegas could be suffering so. Would someone out there in reality-land please send him this blog?
Last I checked, unemployment in Las Vegas and in the entire country for that matter, was well in excess of 20%, especially when the phony stats are adjusted for incidental factors such as folks that have given up looking for a job, because it's practically impossible. All you have to do is subscribe to the wonderful publication known as "ShadowShats" (http://shadowstats.com/) to understand the ongoing fraud known as government economic statistics. Talk about an oxymoron!
Or, if Mr. Reid would consult one of the Democratic Party's best known benefactors, Mr. Warren Buffett, he might come up with a different conclusion http://markostake.blogspot.com/2010/09/open-letter-to-warren-buffett.html. Ironically, I have yet to hear back from Warren on this open letter. Could he be in Margaritaville with his nephew, Jimmy?
Mr. Reid, as the Soup Nazi would say "NO SOUP FOR YOU!"
Marko's Take
Showing posts with label Warren Buffett. Show all posts
Showing posts with label Warren Buffett. Show all posts
Friday, October 22, 2010
Friday, September 24, 2010
An Open Letter To Warren Buffett
Dear Mr. Buffett:
I have read about, and listened to, with interest your recent interviews on CNBC and elsewhere. Mr. Buffett, I'm confused. Could you clarify a few things for me?
You are familiar with the recent declaration from the National Bureau Of Economic Research (NBER) that the recession officially ended in June, 2009. You disagree.
In fact you told CNBC that by your own "common sense" definition, the United States is "still in a recession." In the same interview, you said taxpayer anger against President Barack Obama and Congress is counterproductive because policy makers took measures including deficit spending to stimulate the economy. Yet you don't seem to understand why common folks like me are opposed to turning over more than one more cent to the government, which has clearly created the very mess we're supposed to entrust them to fix.
“The truth is we’re running a federal deficit that’s 9% of Gross DomesticProduct (GDP),” Buffett said. “That’s stimulative as all get out. It’s more stimulative than any policy we’ve followed since World War II.”
Always the altruistic one, you even castigated the rich by telling CNBC that you don't buy the argument that raising taxes for them would derail the nation's economic recovery. I think it's fantastic that you are so willing to sacrifice a much larger portion of your earned income. Putting your money where your mouth is. Good show!
Now, correct me if I'm wrong, but you make how many tens of millions? What's that? Could you speak a little louder? Your salary is $100,000? Is that per minute? Per hour? Per YEAR?
Ok, with salary and other bennies it's nearly $200,000. So, wow, you'd be willing to chip in another 10K for the good of your country? Good for you!
But isn't your net worth on the order of $50 Billion? Wouldn't it do the country more good if you supported a tax on wealth? By your own reasoning, I'm surprised you haven't whipped out your check book and written a $10 Billion check to Uncle Sam for the purpose of deficit reduction. But you've given so much to charity, I understand. Strange, but if the U.S. Government is so adept at re-allocating wealth, why would you rely on charities? I'm really confused here.
And, since every taxpayer needs to do their fair share, I assume you give back your Social Security check. If, by your own reasoning, it is incumbent on the rich to help reduce the deficit, here's a great way to start. According to a recent inteview you did with Lou Dobbs, you keep the money. Hey, every penny counts!
Mr. Buffet, you have made your billions by exploiting the capitalist, free market system. A system not hindered by over-regulation and government intervention. Sad, that you don't wish to see others free to take advantage of the same "land of opportunity" that blessed you.
Do, I sense just a wee bit of hypocrisy?
Well, I'm going to try to cut you some slack. If I were 80 and interviewed by a woman as beautiful and intelligent as Becky Quick, I might not be able to contruct a coherent sentence.
Mr. Buffett, this is "Marko's Take". I welcome you to TAKE ME ON!
Marko's Take
I have read about, and listened to, with interest your recent interviews on CNBC and elsewhere. Mr. Buffett, I'm confused. Could you clarify a few things for me?
You are familiar with the recent declaration from the National Bureau Of Economic Research (NBER) that the recession officially ended in June, 2009. You disagree.
In fact you told CNBC that by your own "common sense" definition, the United States is "still in a recession." In the same interview, you said taxpayer anger against President Barack Obama and Congress is counterproductive because policy makers took measures including deficit spending to stimulate the economy. Yet you don't seem to understand why common folks like me are opposed to turning over more than one more cent to the government, which has clearly created the very mess we're supposed to entrust them to fix.
“The truth is we’re running a federal deficit that’s 9% of Gross DomesticProduct (GDP),” Buffett said. “That’s stimulative as all get out. It’s more stimulative than any policy we’ve followed since World War II.”
Always the altruistic one, you even castigated the rich by telling CNBC that you don't buy the argument that raising taxes for them would derail the nation's economic recovery. I think it's fantastic that you are so willing to sacrifice a much larger portion of your earned income. Putting your money where your mouth is. Good show!
Now, correct me if I'm wrong, but you make how many tens of millions? What's that? Could you speak a little louder? Your salary is $100,000? Is that per minute? Per hour? Per YEAR?
Ok, with salary and other bennies it's nearly $200,000. So, wow, you'd be willing to chip in another 10K for the good of your country? Good for you!
But isn't your net worth on the order of $50 Billion? Wouldn't it do the country more good if you supported a tax on wealth? By your own reasoning, I'm surprised you haven't whipped out your check book and written a $10 Billion check to Uncle Sam for the purpose of deficit reduction. But you've given so much to charity, I understand. Strange, but if the U.S. Government is so adept at re-allocating wealth, why would you rely on charities? I'm really confused here.
And, since every taxpayer needs to do their fair share, I assume you give back your Social Security check. If, by your own reasoning, it is incumbent on the rich to help reduce the deficit, here's a great way to start. According to a recent inteview you did with Lou Dobbs, you keep the money. Hey, every penny counts!
Mr. Buffet, you have made your billions by exploiting the capitalist, free market system. A system not hindered by over-regulation and government intervention. Sad, that you don't wish to see others free to take advantage of the same "land of opportunity" that blessed you.
Do, I sense just a wee bit of hypocrisy?
Well, I'm going to try to cut you some slack. If I were 80 and interviewed by a woman as beautiful and intelligent as Becky Quick, I might not be able to contruct a coherent sentence.
Mr. Buffett, this is "Marko's Take". I welcome you to TAKE ME ON!
Marko's Take
Friday, August 6, 2010
Clowns To The Left Of Me, Jokers To The Right
Recently, a rather sizable number of high profile mega-billionaires announced an intention to donate most of their net worths to charity. Very commendable. Or was it?
More than 30 U.S billionaires have pledged to give at least half of their fortunes to charity as part of a campaign spearheaded by Warren Buffett, the investor, and Bill Gates, the Microsoft founder.
The list of those signing up, posted on The Giving Pledge’s website, includes such notables as Michael Bloomberg, New York’s mayor, Ted Turner, the media mogul, Barry Diller, the chief executive of IAC, and David Rockefeller.
The financial sector is well represented, with former Citigroup chairman Sandy Weill and his wife Joan, David Rubenstein, the co-founder of the Carlyle Group, Pete Peterson, the co-founder of the Blackstone Group, Ron Perelman, the investor, and Julian Robertson, the hedge fund manager, on the list.
Ok, so what could my beef with this, oh so generous act, possibly be? Well, many of these folks are politically active and have tended to be supporters of higher taxes and bigger government. Mr. Buffett supported Hillary Clinton in 2008. Moderate Republican Michael Bloomberg is viewed as a possible future Presidential candidate. George Soros and Ted Turner are ardent Democrats.
Now, if they love Uncle Sam so much, why don't they pledge their assets to help lower the budget deficit? After all, charities and the Federal Government are BOTH involved in wealth distribution. So, why would they prefer a PRIVATE solution? Mr. Buffett just LOVES higher taxes for everyone but himself. So does Mr. Soros.
But the rich do gooders have so many ways to entertain us. Take John Kerry, married to the heiress of the Heinz ketchup fortune. Massachusetts Senator John Kerry is docking his family's new $7 million yacht in neighboring Rhode Island, allowing him to avoid paying roughly $500,000 in taxes to the cash-strapped Bay State.
If the "Isabel" were kept at the 2004 Democratic presidential nominee's summer vacation home on Nantucket, or in Boston Harbor near his city residence, he would be liable for $437,500 in one-time sales tax. He would also have to pay $70,000 in annual excise taxes. Now that Mr. Kerry has been exposed, he has had to cough up the half million.
And, what rundown of political hypocrisy would be complete without mentioning Al Gore. Mr. Global Warming. For more on how idiotic this theory is, click here: http://markostake.blogspot.com/2010/08/very-inconvenient-truth.html.
Since "An Inconvenient Truth" won an academy award, we can assume that he lives a completely green lifestyle, correct? Uh, not exactly.
The average household in America consumes 10,656 kilowatt-hours (kWh) per year, according to the Department of Energy. In 2006, Gore devoured nearly 221,000 kWh, more than 20 times the national average!
Last August alone, Gore burned through 22,619 kWh, or more than twice the electricity in one month than an average American family uses in an entire year. As a result of his energy consumption, Gore’s average monthly electric bill topped $1,359.
Since the release of his documentary, Gore’s energy consumption has increased from an average of 16,200 kWh per month in 2005, to 18,400 kWh per month in 2006.
Gore’s extravagant energy use does not stop at his electric bill. Natural gas bills for Gore’s mansion and guest house averaged $1,080 per month last year. Very convenient, indeed, Mr. Gore.
How about House Ways And Means chairman Charles Rangel being caught for evading income taxes? And, of course Treasury Secretary Timothy Geithner have tax evasion issues of his own?
Sarah Palin, while governor of Alaska, passed a windfall profits tax. Hello????
Now, before we depart without recognizing more of our friends on the Republican side of the aisle, let's compliment the "family values" of folks like Newt Gingrich and Tom Delay, and lots of others. Yeah, hypocrisy is very bi-partisan.
Here I am, stuck in the middle with you.
Marko's Take
More than 30 U.S billionaires have pledged to give at least half of their fortunes to charity as part of a campaign spearheaded by Warren Buffett, the investor, and Bill Gates, the Microsoft founder.
The list of those signing up, posted on The Giving Pledge’s website, includes such notables as Michael Bloomberg, New York’s mayor, Ted Turner, the media mogul, Barry Diller, the chief executive of IAC, and David Rockefeller.
The financial sector is well represented, with former Citigroup chairman Sandy Weill and his wife Joan, David Rubenstein, the co-founder of the Carlyle Group, Pete Peterson, the co-founder of the Blackstone Group, Ron Perelman, the investor, and Julian Robertson, the hedge fund manager, on the list.
Ok, so what could my beef with this, oh so generous act, possibly be? Well, many of these folks are politically active and have tended to be supporters of higher taxes and bigger government. Mr. Buffett supported Hillary Clinton in 2008. Moderate Republican Michael Bloomberg is viewed as a possible future Presidential candidate. George Soros and Ted Turner are ardent Democrats.
Now, if they love Uncle Sam so much, why don't they pledge their assets to help lower the budget deficit? After all, charities and the Federal Government are BOTH involved in wealth distribution. So, why would they prefer a PRIVATE solution? Mr. Buffett just LOVES higher taxes for everyone but himself. So does Mr. Soros.
But the rich do gooders have so many ways to entertain us. Take John Kerry, married to the heiress of the Heinz ketchup fortune. Massachusetts Senator John Kerry is docking his family's new $7 million yacht in neighboring Rhode Island, allowing him to avoid paying roughly $500,000 in taxes to the cash-strapped Bay State.
If the "Isabel" were kept at the 2004 Democratic presidential nominee's summer vacation home on Nantucket, or in Boston Harbor near his city residence, he would be liable for $437,500 in one-time sales tax. He would also have to pay $70,000 in annual excise taxes. Now that Mr. Kerry has been exposed, he has had to cough up the half million.
And, what rundown of political hypocrisy would be complete without mentioning Al Gore. Mr. Global Warming. For more on how idiotic this theory is, click here: http://markostake.blogspot.com/2010/08/very-inconvenient-truth.html.
Since "An Inconvenient Truth" won an academy award, we can assume that he lives a completely green lifestyle, correct? Uh, not exactly.
The average household in America consumes 10,656 kilowatt-hours (kWh) per year, according to the Department of Energy. In 2006, Gore devoured nearly 221,000 kWh, more than 20 times the national average!
Last August alone, Gore burned through 22,619 kWh, or more than twice the electricity in one month than an average American family uses in an entire year. As a result of his energy consumption, Gore’s average monthly electric bill topped $1,359.
Since the release of his documentary, Gore’s energy consumption has increased from an average of 16,200 kWh per month in 2005, to 18,400 kWh per month in 2006.
Gore’s extravagant energy use does not stop at his electric bill. Natural gas bills for Gore’s mansion and guest house averaged $1,080 per month last year. Very convenient, indeed, Mr. Gore.
How about House Ways And Means chairman Charles Rangel being caught for evading income taxes? And, of course Treasury Secretary Timothy Geithner have tax evasion issues of his own?
Sarah Palin, while governor of Alaska, passed a windfall profits tax. Hello????
Now, before we depart without recognizing more of our friends on the Republican side of the aisle, let's compliment the "family values" of folks like Newt Gingrich and Tom Delay, and lots of others. Yeah, hypocrisy is very bi-partisan.
Here I am, stuck in the middle with you.
Marko's Take
Tuesday, May 4, 2010
Government Sachs In The Cross-Hairs: What The Scandal Is All About
Goldman Sachs (GS), aka "Government Sachs" has been exposed for being what readers of Marko's Take, as well as anyone with a brain, already knew: the most corrupt and greedy institution on planet Earth! (But Marko... how do you REALLY feel?)
With so many allegations and opinions flying about, it's easy to get confused as to exactly what prompted the SEC complaint and how it relates to the Obama Administration's formerly cozy relationship with Government Sachs.
Goldman was accused of fraud by the Securities and Exchange Commission (SEC) in a lawsuit filed April 16. The SEC claims Goldman duped investors in a Collateralized Debt Obligation (CDO) called Abacus 2007-AC1, by failing to disclose that it was created with the help of hedge-fund firm Paulson & Co., which made a profit of about $1 billion when the investment collapsed in value. John Paulson became an overnight celebrity within the investment community by virtue of his huge score shorting the real estate market.
The CDO is a bet against the value of mortgages and the housing market overall. The securities themselves were allegedly created specifically to give hedge fund manager John Paulson a means to profit from the real estate meltdown. Goldman, for its part, put its own clients into these CDO's, which defaulted in droves.
Paulson and Goldman got rich as America and the world got poor.
Warren Buffett, the richest man in America, and the most hypocritical man in America, sees ABSOLUTELY NOTHING WRONG! Why should he? His investment in Goldman, made at terms not available to anyone BUT him, is in the money. What him worry? (But Marko... how do you REALLY feel?).
Goldman's defense filing included copies of six lawsuits, as well as a "demand letter" from the Louisiana Municipal Police Employees Retirement System, that the company's board launch an internal probe of "officers and directors responsible for the Abacus 2007-AC1 incident."
In addition, Goldman clients are up in arms, believing not only that they had been misled, but that GS used its trading operation to benefit itself at their expense. Goldman, trade against its clients for its own profit? You're kidding, right? NOT! (But Marko... how do you REALLY feel?).
Prosecutors have demanded trading records as part of a probe that has ensnared several hedge-fund managers, including Galleon Group founder Raj Rajaratnam.
The U.S. Attorney's office in Manhattan has alleged Mr. Rajaratnam was at the center of a massive insider-trading ring that generated millions of dollars in improper trades. Mr. Rajaratnam has denied wrongdoing.
The SEC move came as President Barack Obama is making a final push for financial reform in the Senate next week. “Wall Street titans still recklessly speculate with borrowed money,” he told supporters. “We cannot delay action any longer.”
And this explains the sudden ploy by President Obama to throw his cronies at "Government Sachs" under the bus. It's 2010, and the elections are coming up. How better to show the American people that you have their interests at heart? He's gotten what he can out of Goldman. They're no longer useful. No honor among thieves!
Suddenly, the market impression of GS has taken an extreme turn for the worse. Not only has its stock plunged, but now market fears that the cumulative effects of the SEC and the private lawsuits will imperil Goldman's excellent credit-worthiness.
The cost of insuring Goldman Sachs’ debt against default has risen to about the level of Morgan Stanley and Citigroup, two less profitable rivals, as Goldman’s regulatory woes take a toll on investors’ confidence and its standing on Wall Street.
Credit Default Swaps (CDSs) leapt to 160 basis points yesterday, a real market sign that this is no slap on the wrist, but a real threat to the most corrupt institution in the world. Couldn't happen to a better bunch of guys! And that's how I REALLY feel!
Marko's Take
Our newest video entitled "Social In-Security: The Problem" will be uploaded in the next 24 hours. You can access all our videos by clicking here: http://www.youtube.com/markostaketv.
With so many allegations and opinions flying about, it's easy to get confused as to exactly what prompted the SEC complaint and how it relates to the Obama Administration's formerly cozy relationship with Government Sachs.
Goldman was accused of fraud by the Securities and Exchange Commission (SEC) in a lawsuit filed April 16. The SEC claims Goldman duped investors in a Collateralized Debt Obligation (CDO) called Abacus 2007-AC1, by failing to disclose that it was created with the help of hedge-fund firm Paulson & Co., which made a profit of about $1 billion when the investment collapsed in value. John Paulson became an overnight celebrity within the investment community by virtue of his huge score shorting the real estate market.
The CDO is a bet against the value of mortgages and the housing market overall. The securities themselves were allegedly created specifically to give hedge fund manager John Paulson a means to profit from the real estate meltdown. Goldman, for its part, put its own clients into these CDO's, which defaulted in droves.
Paulson and Goldman got rich as America and the world got poor.
Warren Buffett, the richest man in America, and the most hypocritical man in America, sees ABSOLUTELY NOTHING WRONG! Why should he? His investment in Goldman, made at terms not available to anyone BUT him, is in the money. What him worry? (But Marko... how do you REALLY feel?).
Goldman's defense filing included copies of six lawsuits, as well as a "demand letter" from the Louisiana Municipal Police Employees Retirement System, that the company's board launch an internal probe of "officers and directors responsible for the Abacus 2007-AC1 incident."
In addition, Goldman clients are up in arms, believing not only that they had been misled, but that GS used its trading operation to benefit itself at their expense. Goldman, trade against its clients for its own profit? You're kidding, right? NOT! (But Marko... how do you REALLY feel?).
Prosecutors have demanded trading records as part of a probe that has ensnared several hedge-fund managers, including Galleon Group founder Raj Rajaratnam.
The U.S. Attorney's office in Manhattan has alleged Mr. Rajaratnam was at the center of a massive insider-trading ring that generated millions of dollars in improper trades. Mr. Rajaratnam has denied wrongdoing.
The SEC move came as President Barack Obama is making a final push for financial reform in the Senate next week. “Wall Street titans still recklessly speculate with borrowed money,” he told supporters. “We cannot delay action any longer.”
And this explains the sudden ploy by President Obama to throw his cronies at "Government Sachs" under the bus. It's 2010, and the elections are coming up. How better to show the American people that you have their interests at heart? He's gotten what he can out of Goldman. They're no longer useful. No honor among thieves!
Suddenly, the market impression of GS has taken an extreme turn for the worse. Not only has its stock plunged, but now market fears that the cumulative effects of the SEC and the private lawsuits will imperil Goldman's excellent credit-worthiness.
The cost of insuring Goldman Sachs’ debt against default has risen to about the level of Morgan Stanley and Citigroup, two less profitable rivals, as Goldman’s regulatory woes take a toll on investors’ confidence and its standing on Wall Street.
Credit Default Swaps (CDSs) leapt to 160 basis points yesterday, a real market sign that this is no slap on the wrist, but a real threat to the most corrupt institution in the world. Couldn't happen to a better bunch of guys! And that's how I REALLY feel!
Marko's Take
Our newest video entitled "Social In-Security: The Problem" will be uploaded in the next 24 hours. You can access all our videos by clicking here: http://www.youtube.com/markostaketv.
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