Warren's Camp Out

Each year, Warren Buffett and all of his friends go camping in Moonbat Valley. Allen and company. They all fly their jets to Sun Valley, rent the most expensive cars, and splash a little money around. The locals like it. It is kind of like "burning man" for the rich and elite except and most fortunately- they keep their clothes on.

This morning, I had the opportunity to watch these people wax poetic on the economy with the Elkhorn Golf Course as a back drop. CNBC sent Becky Quick to interview Muhtar Kent among others- CEO of Coca Cola. CNBC treats them all like economists. The elite are extended credibility as though having a lot of dough makes you an expert on everything. Their elite egos are quick to pounce on that emotional praise. It's like patting boys on the head. Good job, son. Warren is now talking about his criminally low tax rate. Warren said that he paid 16.6% in taxes last year and yet people still wonder why our government is bankrupt. I paid 20%. Fuck you Warren.

Warren certainly loves to talk about himself. It must be hard being so smart.

The problem with 10% of the U.S. population (elite) owning essentially everything, is that there is not much left over for the rich to feed on and exploit in the U.S. That's why corporate America left our shores. They abandoned the U.S. for ridiculously low tax rates and dollar an hour- slave labor. Greed is nothing new.

And the United States still can't figure how to deal with that. So Bush Obama, the big hope and change guy, extended decade long tax cuts along with those crony capitalists in Congress.

I don't care how you feel about taxes. We spent the money and the bill is due. Somebody is going to have to pay. All debts are paid- either by the borrower or the lender.

Dow Futures are up 80 points as I write this. The economy lost 418,000 jobs and that wasn't nearly as bad as people were thinking- so today's rally is on. That is the alternate reality I live in. Where bad news is good news. Where the DOW and other averages are making two month highs amidst some of the shittiest economic numbers of the past three years.

Years ago I was forced to put up with the snobs at the camp out. I remember standing at the front desk in Sun Valley asking directions to a room where we would be discussing security for the camp out- when one of the privileged class interrupted me. The desk clerk immediately answered her questions while I stood there. Etiquette it seems, is a subjective thing. 

I have some news for Warren and his elite friends. They have run out of people to exploit in the U.S. They will have to focus on exploiting someone else. In a healthy economy, an economy where Main Street participates, there is an opportunity for the rich to capitalize on the large and cash flush middle class. In a world where our government kleptocracy exploits the middle class first, there's just not enough money left over for the elite to nab. That is the dilemma Warren and his friends must discuss at the big slumber party in Moonbat Valley. I was able to escape from Moonbat Valley a few years ago and I am very grateful for that. I found Allen and Company to be nothing but a big pain in the ass.

Moonbat Valley is a very appropriate place for that sort of thing.