Obama and Buffett are anti-market fascists: Rick Rule

Attention-getter Rick Rule had choice words when asked about Warren Buffett, who said that President Barack Obama is "not anti-business."

“There is a strong drift in American politics toward fascism and I think Obama and Buffett are fascists," said Rule in an interview with Cambridge House International in early June.

"The idea that a company should not be allowed to fail I think is anathematic to a market. Failure is what is required in a market to purge the market of moral risk. So when you ask me if Obama is anti-business, it depends on how you define business.

"If you define business as maintaining brain dead parasitical fascist structures like J.P. Morgan Chase or General Motors then no, he’s certainly not anti-business. But I do think he and Buffett are anti-market.

"I'm pro-market. I think the thing that made the United States as great as it was for many years there was a reliance on markets and a sense that it was OK for people to succeed, and it was OK for people to fail too. And it was that interplay that kept the playing field real."

Hat tip, Gold-Prices.biz