???

For that reason, we don’t need to answer, “How do you know?” We’re proclaiming right up front, “We don’t know.”

Just speaking for me, but I don’t give a rat’s nads about “society”. I just imagine being free from the exploitation of the politicians. How do I know that would be a good thing? Well, I would be deciding for myself how to spend the 40% of what I create that they take from me. How do I know that I could make better choices for myself than they make for me? Confidence. Confidence in my own abilities. Confidence in the character of my neighbors. Confidence in the character of the productive class, and a complete lack of confidence in the character of the political class.

Just speaking for me, but I don’t give a rat’s nads about “society”. I just imagine being free from the exploitation of the politicians. How do I know that would be a good thing? Well, I would be deciding for myself how to spend the 40% of what I create that they take from me. How do I know that I could make better choices for myself than they make for me? Confidence. Confidence in my own abilities. Confidence in the character of my neighbors. Confidence in the character of the productive class, and a complete lack of confidence in the character of the political class.

I’m fairly certain the answer is yes.

Jon Najarian does the math in Barron’s:

Fast-forward to Oct. 21 of this year, and now Paulson’s successor at Treasury, Timothy Geithner, is telling us what a great investment the government made in Goldman. His office touts the 23% return on our $5 billion in taxpayer money. Let’s compare that with what we might have gotten with terms similar to Buffett’s.

Goldman was trading at $115, so a $5 billion stake bought the taxpayers 43 million shares. With the stock subsequently running up to $180, that $5 billion stake would be worth $7.8 billion, a gain of $2.8 billion. But wait, it gets better — or worse, depending on your view. Given the added kicker of warrants on another $5 billion, 8% under the market, we’d also own warrants for 43 million shares at $105. So we’d have made another $3.2 billion.

Thus, the total gain before dividends would be $6 billion on a $5 billion investment. Last time I checked, that’s 120% on our money, versus the 23% that Hank got us. I didn’t go to Dartmouth, as Secretaries Paulson and Geithner did, but I think Buffett got the better deal.

Duh.

[The World's Worst Trader?, Barron's, Monday, Nov. 16, 2009]

I’m fairly certain the answer is yes.

Jon Najarian does the math in Barron’s:

Fast-forward to Oct. 21 of this year, and now Paulson’s successor at Treasury, Timothy Geithner, is telling us what a great investment the government made in Goldman. His office touts the 23% return on our $5 billion in taxpayer money. Let’s compare that with what we might have gotten with terms similar to Buffett’s.

Goldman was trading at $115, so a $5 billion stake bought the taxpayers 43 million shares. With the stock subsequently running up to $180, that $5 billion stake would be worth $7.8 billion, a gain of $2.8 billion. But wait, it gets better — or worse, depending on your view. Given the added kicker of warrants on another $5 billion, 8% under the market, we’d also own warrants for 43 million shares at $105. So we’d have made another $3.2 billion.

Thus, the total gain before dividends would be $6 billion on a $5 billion investment. Last time I checked, that’s 120% on our money, versus the 23% that Hank got us. I didn’t go to Dartmouth, as Secretaries Paulson and Geithner did, but I think Buffett got the better deal.

Duh.

[The World's Worst Trader?, Barron's, Monday, Nov. 16, 2009]

The Congress and Obama should proudly present their careful research that supports their proposed rearrangement of healthcare. Obama is a Harvard trained law professor. He should be up to it.

Where is the policy paper, Obama’s/Congress’s research on healthcare reform?

The Congress and Obama should proudly present their careful research that supports their proposed rearrangement of healthcare. Obama is a Harvard trained law professor. He should be up to it.

Where is the policy paper, Obama’s/Congress’s research on healthcare reform?

Unfortunately, too many people think they do know and it usually sounds something like, “Well, I can’t even imagine. The financial system would have collapsed. Things would have been much worse. Are you stupid enough to think we’d be as well off as we are now if we let these massive banks fail?”

And then they stop thinking about and go on about their busy lives.

Unfortunately, too many people think they do know and it usually sounds something like, “Well, I can’t even imagine. The financial system would have collapsed. Things would have been much worse. Are you stupid enough to think we’d be as well off as we are now if we let these massive banks fail?”

And then they stop thinking about and go on about their busy lives.