Decades of government intervention into economic activity have produced economic distortions, sluggish growth, an unsupportable debt burden, and a rotten financial structure ready to collapse of its own dead weight. In spite of that record, most Europeans want more government. That’s their choice. Like it or not, sooner or later, we reap what we sow.
Imagine someone showing up at your home and saying: “We’re from the government. We’ve determined that this dwelling has more living space than you and your family need. There are so many people who do not have enough. So we’re going to move another family in with you.”
First lady Michelle Obama the other day railed at "the few at the top," who do all sorts of bad things. A few months ago, we began hearing of the "1 percent" who are responsible for the current economic mess. "They" apparently make all their money at the expense of the other 99 percent. Are they the same as last year's villains, who had not paid "their fair share" in making over $200,000 in annual income?
Will its debt-laden balance sheet hold up in the weight of further capital-spending requirements? As it stands now, Clearwire's cash flow and spending trends will be without any more funds by next June.
According to Berkshire Hathaway's (NYSE: BRK-B) most recent filing, the company just purchased 189,000 more shares of this stock. Buffett and Berkshire already had a 216,000 share stake in the company. With the new purchase, they now own 405,000 shares -- a stake worth roughly $125 million.
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