Monday, May 6, 2013

Warren Buffett Really Doesn't Get Free Markets

Warren Buffett has a central planner's faulty thinking pattern. He doesn't understand what Mises, Hayek and Rothbard taught us about free markets versus central planning.

He just said on CNBC:
 Our country's brightest minds should be tasked with redesigning health care system.
Does he mean the same best and the brightest who got us into Vietnam war?


  1. I suspect Buffett understands free markets just fine - he knows how to leave his dozens of managers alone to run their separate businesses, despite his likely being the brightest mind in the room.

    Yes, he understands free markets just fine; however, he recognizes that the way to make outsize returns is to guide government policy and then take advantage of the mis-allocations caused by that policy.

    1. Bingo. Also encouraging others so that you have plenty of buyers when the time is right is not a bad idea either.

  2. I just sent you an email about this, disregard.

    It is funny though. His saying that stock markets will go ever higher.

    Also great was Jim Cramer after the appearance and talking about it. He knocked those 'people' who claim that the FED is somehow manipulating the stock market. I guess he doesn't really pay attention to FED stated policy. Even the FED isn't shy about what they do, they encourage it.

    Maybe that's why this weekend when me and him went back and forth on twitter he claimed not to know Peter Schiff, and therefore not be shaken, when I sent him the link to Peter dismantling his stupidity.