Savvy Trades and Investments

[jtomm]

OT: Very informative and entertaining article about a solar scam that got many big companies, including Buffett. I lost a lot of respect for Buffett years ago when he said he knows full well that wind power doesn't make sense, but he builds them because he gets the tax break. Yeah, at other people's expense. Munger and Buffett know better and like to talk a lot about honesty and integrity, and yet they're perfectly happy to rip off their fellow man. It's stealing via paperwork. He should refuse to participate in capital-destroying activities and speak up about these tax credits needing to be eliminated, not participate in these deals that encourage even more tax breaks and more shenanigans in the future. This article shows how most of the participants knew they were ripping off their fellow man and most of them purposely didn't want to know too much so they would have the plausible deniability of saying "we relied on the experts."

All subsidies, tax breaks, etc. for all companies, industries, etc should be eliminated. The govt is supposed to be the referee, not determining the winners and losers. Otherwise, you encourage wealth-destroying activities and this is what you get:

https://www.theatlantic.com/magazine/archive/2023/06/dc-solar-power-ponzi-scheme-scandal/673782/