Yet another prominent O'Bama supporter/cheerleader/voter expresses buyer's remorse. This time it is Daniel Loeb founder of the multi-billion dollar hedge fund, Third Point. These are his opening words from the fund's
2nd quarter investor letter:The budget is not the only thing in deficit today, as a paucity of leadership has left the country without a stable framework in which businesses can conduct business, investors can invest and consumers can consume without a high degree of uncertainty and fear. Politically charged statements and brinkmanship have served to deepen divisiveness between the parties and led to confusion and fear among citizens. There has been much said about who is allegedly the "adult in the room," but President Obama has yet to speak to Americans as adults, insisting instead on his preferred technique - stirring up class warfare. Scaring senior citizens about the possibility of not receiving their Social Security and Medicare checks, lambasting the corporate jet industry, and calling for higher taxes on managers of private partnerships is not a constructive approach to handling a complex multi-trillion dollar problem that will have multi-generational impact.
....
It is increasingly difficult to avoid the conclusion that while Washington burns, President Obama is fiddling away by insisting that the only solution to the nation’s problems — whether unemployment, the debt ceiling or deficit reductions — lies in redistribution of wealth. Perhaps the difference between President Obama and many Americans is that the President sees prosperity as a sign of "unfairness" that needs to be corrected by government via higher taxes and increased regulation. Perhaps a plan that led the way forward by expanding opportunities rather than redistributing outcomes and emphasized growth and prosperity for all would be met with less political resistance.
I left out his damning quote of Paul Ryan. It definitely underscores Loeb's true feelings.
Bottom line is that this liberal sh*t is all fine and dandy until it begins to have a real and serious impact on Loeb's business and personal fortune. When it's no longer just a cute game that keeps him in vogue with his buddies in the elite cocktail circuit then and only then does he begin to get it.
Rich people (who made their wealth rather than inherited it) are a pretty smart bunch to have gotten rich but they sure can be thick when it comes to liberal politics, liberal politicians and the Marxist policies that they advocate.
