Picture on Left is Warren Buffet. Picture on Riot is from Irish Examiner.

In an opinion piece by one of the most successful investors in the world, Warren Buffett in the New York Times suggested that Congress stop “Coddling the Super-Rich”, saying that in the 80s and 90s there were more job creation with high tax rates over the last decade where the tax rates decreased and so did jobs.    Regardless of your politics, one aspect of this story that will no doubt cause a stir in the blogosphere, opinion news, tweets and Facebook sharing (and Google Plus) outlets is this:

“Twelve members of Congress will soon take on the crucial job of rearranging our country’s finances. They’ve been instructed to devise a plan that reduces the 10-year deficit by at least $1.5 trillion. It’s vital, however, that they achieve far more than that. Americans are rapidly losing faith in the ability of Congress to deal with our country’s fiscal problems. Only action that is immediate, real and very substantial will prevent that doubt from morphing into hopelessness. That feeling can create its own reality.”-Warren Buffett, The New York Times, Aug. 14, 2011.

Is this reality seen in London today?  In BBC News article where two criminologist discuss the different reasons for the recent London Riots and discuss how each one does not serve as a full explanation.  Among them are Spending cuts by government, taking what you can (looting) because generally its hard to come by such items,  even welfare dependence, considering the very politicians are often caught taking advantage of their position,  it offers a variety of reasons to not care about the social order for people of all classes.

One thing that is considered a cause (I say it was more the wind that fueled the fire) is Social Media.   They used Facebook, Twitter and mobile tools like Blackberry Messenger to “organize” themselves to revolt.   Although on video, the riots did not look particularly organized, it was enough to make the world discuss the question “Why is this happening”.

I interpret Warren Buffett’s article as telling Congress to act with substantial solution to help the majority of the American People or the people can respond to this hopeless reality because Congress cannot act for their interest.   Regardless of your politics on the matter,  people taking to Social Media to express their discord and a group of people deciding to take action, can make our reality become similar to London’s Reality.  And we will have a very specific reason WHY it happened.

Advertisements