ProPublica Reveals the US Is a Tax Haven

June 10, 2021

This week, ProPublica published a long, detailed article that blew the roof off two burning and intimately related questions currently in the news: wealth inequality and taxation. In the wake of the 2008 financial crisis, Thomas Piketty, Branko Milanovic and numerous pundits in the media have...

Warren Buffett’s Struggle With Class Struggle

October 13, 2020

In his recently published book, “Evil Geniuses: The Unmaking of America,” Kurt Andersen examines and deconstructs the past 50 years of economic history in the US. He tells the story of a disastrous but well-orchestrated trend toward rising and aggravated income inequality that has permitted...

How Billionaires Take Seriously the Proverb “Charity Begins at Home”

August 06, 2020

What is the point of having a billion dollars? Most people would say, after observing the behavior of recent billionaires, that the point is to turn the first billion into multiple billions. If you don’t spend it or bury it in the ground, money grows. That’s a law of nature. And when you have...

Is Warren Buffett the Last True Believer in Constant Progress?

June 12, 2019

The media will never tire of Warren Buffett’s oracular pronouncements, nor will it dare to put them in perspective or critique them. Who better than the Oracle of Omaha, the Pope of Wall Street, Warren Buffett, can we count on to guide the faithful in the dogmas they need to believe about the...

Berkshire’s Charlie Munger Explains US Culture

May 20, 2019

The US media uncritically celebrate the wealthy and suppose that their every thought may be a pearl of wisdom. The Daily Devil’s Dictionary explains.  Interviewed in the wake of the Berkshire Hathaway annual meeting by journalist Andy Serwer of Yahoo Finance, Warren Buffett’s alter ego and...

Buffett, Munger and Gates Share Their Wisdom

May 08, 2019

Can celebrity billionaires be guilty of impoverished thought? Berkshire Hathaway’s annual meeting has provided a media platform to see whether that’s true. Warren Buffett, the "Oracle of Omaha," whose wisdom everyone with the ambition to be one day worth $80 billion listens to attentively,...

The Daily Devil’s Dictionary: “Investing” According to Warren Buffett

May 03, 2018

There is a false frontier between investment and speculation, but Warren Buffett can’t see it. When you’re as rich as Warren Buffett, you must be smart. And if you’re smart, you can clearly establish the difference between things, especially things you’re in contact with in your...