Crony Capitalist “Uncle” Warren Buffett Drives Company Profits Using Derivatives

As regular readers know all too well, there are few people in these United States that I find more disingenuous than the mainstream media celebrated, crony capitalist extraordinaire Warren Buffett.  The man who used to warn about trade deficits, the U.S. dollar’s vulnerable position and famously called the derivatives “weapons of mass financial destruction,” has become nothing more than a political stooge for the status quo ever since he was bailed out in the financial crisis.  So with the derivatives market bigger and more dangerous than ever, you’d expect “Uncle Warren” to be shouting from the rooftops about how much risk they pose right?  Wrong.  Rather, America’s number one crony is using derivatives to drive earnings at his company, Berkshire Hathaway, and pimping stocks on CNBC like a cheap used car salesman every other day.  From Bloomberg:

Berkshire Hathaway Inc. (BRK/A) said fourth- quarter profit rose 49 percent on gains tied to derivatives wagers made by billionaire Chairman and Chief Executive Officer Warren Buffett.


Net income rose to $4.55 billion, or $2,757 a share, from $3.05 billion, or $1,846, a year earlier, Omaha, Nebraska-based Berkshire said today in a statement. Gains on derivatives surged to $1.4 billion from $163 million.

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What is the Deal with Crony Capitalists and Ice Cream Cones?

So today Warren Buffet and Berkshire Hathaway host their annual pilgrimage of automatons to the heartland of America to meet the country’s richest guy who is “just like you.”  Why is he just like you?  Because he eats hamburgers, drinks cherry coke and loves ice cream cones.  This just a day after his right hand man, Charlie Munger called people that buy gold uncivilized and made some disgusting comment about how only Jews in Nazi Germany before getting thrown in a train to a concentration camp have any reason to buy it.  As a close friend of mine stated yesterday: “MUNGER TELLS CNBC `CIVILIZED PEOPLE DON’T BUY GOLD’…yeah what they do is they insider trade Lubrizol.”

What I found interesting is how many of the articles I have read on this meeting mention how he is eating ice cream at the meeting.  Then I recalled how many times I noticed pictures of Barrack Obama with his face in a cone.  Is there a connection between crony capitalism and ice cream cones?  Well of course Obama isn’t a crony capitalist.  He is just a crony.

So on that note please check out these top 30 pics of our President eating ice cream.  Is this also in the playbook?  Lie, cheat and steal but publicly eat ice cream and the sheeple won’t suspect a thing?

30 Pictures of Obama Eating Ice Cream