Novelist. Author of APSARAS and tales from the beautiful Saigh Valley. First person to quantify spiritual values.

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Monday 29 August 2011

Warren Buffett

Warren Buffett's company Berkshire Hathaway invested $5billion buying shares in the Bank of America. Twenty four hours later he had made over $200 million as the shares moved upwards following the vote of confidence the investment generated.
Isn't this a graphic demonstration of all that is wrong with the system? Isn't this a palpable show of greed that underpins the whole capitalistic way the world currently finances itself?

What has Berkshire Hathaway manufactured (apart from profits)? Nothing! What service have they provided that attracts this sort of revenue? Nothing!
They have simply made money by taking it from other people under the guise of 'trading'. If Warren Buffett has made money it's because somebody else has lost it and the people who have lost it are most likely to be people who cannot afford to lose it, such as those relying on pension funds.

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