An enfeebled Buffett -poster-child of the idiocy of the American financial system - addresses Berkshire Hathaway one last time
No longer seen as the King Midas-shill of the Wall Street finance company mobsters, and not unlike any has-been movie actress having lost her eye-candy sheen, Warren Buffett has fallen on hard times. The most recent shareholder's meeting of his company was visited by far-fewer business-news paparazzi and by far-more aging Buffett-Groupies still hoping for yet another autographed picture of the aging symbol of a bygone era of excessive gullibility. Warren looked ghoulish -basking in the bright and glitzy finance-news spotlight again, still encouraging reckless gambling by a swarming mass of penniless senior citizens, -every one of them still looking to become the next Warren Buffett.
Berkshire Hathaway "A" stock has fallen from $147,000 to as low as $77,500 and back to recovering close of $92,000 during the current sucker's rally -a loss of near 40% in seven months for Warren's Wall Street Warriors. The brigands never looked so sorry.
Warren Buffett in very certain terms -advised shareholders to expect further losses, and only a modest recovery, if any, -sometime in the next ten years, "if Wall Street survives."
Some shell-shocked shareholders are actively demanding Buffett retire and let a younger, sexier stock market shill replace the aging prima donna of phony stock-market-savvy.
During the time when the U.S. economy was building its many tragic wealth-devouring economic bubbles, and the government was putting into law the swindle of all swindles - 401k retirement plan legislation - the example of Buffett's Berkshire Hathaway convinced many Americans they would die rich.
The reality has become instead - those Americans who bet their retirement money on Wall Street will be dying paupers, -a few still listening to Warren Buffett talk about the good old days when the bubbles were still growing, -before the lights were turned on -exposing all the financial perverts robbing the country blind -leaving the investment coffers as bare as Old Mother Hubbard's cupboards.
The absurd and recklessly dangerous concentration of market capital is over, folks. People have simply become too wise (through very crushing experiences just like your own) to ever fall again for the many-many market ploys -always intended to separate the suckers from their money.
The current sucker's rally on Wall Street is attracting about as much attention as some fat, old - toothless lady in a parking lot at some Sam's Club would were she claiming to be the sex goddess Rita Hayworth. Even if it is true, she's not much to look at in any event.
It won't be long before we are all reading Warren Buffett's obituary. And no small number -will be dancing to a happy tune upon the old fool's grave too.
Good riddance to the false prophet of financial greed.
This old coot -Buffett- is one of the biggest liars of an entire generation of American liars. And now that he is showing clear signs of senility, many are beginning to see the reality of their own future coming more clearly into view.
It's over, folks. You took the bait big. And you swallowed hard.
The hook is set deep in the belly of your existence -leaving you little more time than enough to acknowledge -you were just one of many, among the vast schools of suckers born every minute.
So, say, "Goodnight!" Gracie.
And say, "Goodnight!" Warren.