Sunday, May 22, 2005

Soros and Buffett are my hero's ....

Other than buying the Deanocratic Party, thru ($1 to Soros' lacky Eli Pariser: "Now it's our Party: we bought it, we own it, and we're going to take it back") George Soros, joined by Warren Buffett, continue to demonstrate that their hatred for this country is so strong that it is ruining the luck they had in becoming billionaires. That's right, as if the lousy investment they made in politics wasn't loss enough, they are now following it with investments in the currency markets. Unable to foster ruin upon this country by influencing it's Presidential campaign, they now seek to encourage it's economic decline by shorting the dollar (adding pressure and betting that it continues to fall, putting more stress on the economy.) Warren Buffet, by his own admission, has placed a $21 Billion bet on the dollar falling. Nothing like trying to make a self fulfilling prophecy huh?

But their continued pronouncements of this nation's demise and efforts to bring it about, though consistent, are wrong. Estimates indicate that Buffett alone is down nearly a $1 Billion on his bet (if he's still invested), Berkshire reported a $310 million dollar loss in the first quarter of this year on the gamble and Buffett has indicated his inclination to continue the position. Soros has no comment. Do you blame him? Of course, Buffett's prognostication are legendary - as we all breathlessly await the collapse of the economy due to the 2003 tax cuts, which would do great harm to the economy - according to Mr. Buffett.

Bottom line is, there simply is no stronger or better or freer economy in the world. There is no better, more liquid or safer place to invest money. For a global investor - where else would you want to put your money? In Europe - with it's socialistic restrictions, soaring unemployment and lack of innovation? In the Middle East? Lol... I amuse myself. How about in Africa or China? You may make good money and you may never see it again. Which South American Dictator or Drug Lord do you trust with your money? The choices kinda narrow don't they?

The Twins are convinced that keeping your own money and buying imported stuff is inherently bad. Hence, their bet. But shucking it down to the cobb - Americans are the richest and wealthiest people on the planet. We possess a lot of extra cash (think tax cuts here) that we can spend on imported goods. We don't need 5 TV's with DVD players and 3 microwaves in our houses, but we want them. So a trade imbalance is not necessarily a bad thing. Economies don't exist in a vacuum, there are other factors involved. By Soro's, Buffett's and the libs exclusive and intense focus on the trees rather than the forest, they simply are practicing the weath transfer they so desperately desire from government by tossing their wealth away (and that of shareholders who invest with them) and giving it to those who recognize their folly.

Ahhhh, there is a God in heaven. I'm going now to go check my currency portfolio balances.