Saturday, February 27, 2016

Generation Madoff

There wasn't just one Bernie Madoff, there's an entire generation of Madoffs...

What happens when a lucky billunaire compounds his fake wealth during the longest expansion in U.S. history, compliments of a reserve currency - Now propped up by ponzi borrowing, .25% interest rates, and money printing?

"The babies being born in America today are the luckiest crop in history," declared Buffett, one of the world's wealthiest men with an estimated net worth in excess of $60 billion."

"U.S. citizens are not intrinsically more intelligent today, nor do they work harder than did Americans in 1930. Rather, they work far more efficiently and thereby produce far more. This all-powerful trend is certain to continue: America's economic magic remains alive and well."

"I Have A Lower Tax Rate Than My Secretary"

"I come by my wealth honestly - mass outsourcing, stock buybacks, government ponzi borrowing, bailouts, and Fed money printing"

Berkshire with Fed balance sheet

"Good news, we're so efficient we no longer need jobs"