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Jon Stewart on Warren Buffett and the Class Warfare meme

Jon Stewart has noticed that Fox News is selling its viewers on the view that ‘socialists’ like Warren Buffet and Barack Obama are engaged in class warfare. He presents an amusing view; take a look.

P.S. – This Fox News meme is neither fair nor balanced; it is pure propaganda (see here). The only ‘socialism’ I see is the one Buffett decries i.e. socialism for the rich. And despite Buffett’s own protest against this, he himself has been a beneficiary of this via bailouts and easy money for the bank stocks he owns. For his part, Obama too has been a ‘socialist’. As Ron Paul says, Obama’s version of socialism is called corporatism. Is that why Paul is being shut out on Fox?

About 

Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College. Edward also writes a premium financial newsletter. Sign up here for a free trial.

3 Comments

  1. Dave Holden says:

    I continue to believe that John Stewart is the smartest guy on television at present.

  2. Jardinero1 says:

    Warren Buffett would today be a penniless old crank but for his agressive lobbying, two years ago, of Congress and the Executive Branch to prevent all the derivative investments he owns from being marked to market.

  3. Rollin says:

    Jon Stewart’s brother is the Chief Operating Officer of the New York Stock Exchange. Check out Wikipedia. Jon Stewart & all his cronies need to be waterboarded.