“The important thing is not this year,” Buffett tells Vanity Fair, “but where Berkshire is 20 years after I die. Not taking care of it would be like not having a will, cubed.” Twenty years? But that’s 2030, a decade after our defense budget drives Americans further in debt preparing for the Pentagon’s 2020 prediction that “as the planets carrying capacity shrinks, an ancient pattern of desperate, all-out wars over food, water, and energy supplies would emerge … warfare is defining human life.”
Warning to Berkshire shareholders: Buffett’s wrong, the most important thing really is this year, not 2030. Not even 2020. That’s too late. Why? Because the “will of the people” and the unpredictable “will of God” will always trump Buffett’s “will.” Worse, There are four powerful trends that can easily and swiftly make his legacy disappear long before 2030.
War’s been very much on Buffett’s mind. During a New York Times interview around the same time as the Pentagon’s WWIII predictions Buffett remarked: “There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.” And global war: Remember Buffett once called derivatives financial “weapons of mass destruction” in Fortune. Then, after Wall Street’s 2008 meltdown, he surrendered to the enemy, investing billions in Goldman, headquarters of the world’s most destructive derivatives traders. What will his heirs have to surrender?
Yes, Berkshire loyalists have more to worry about than Buffett’s will: So when all 40,000 of you gather in Omaha’s Qwest Center this May, start asking about America’s future … about the decline of our middle class … about the impact of the global population exploding 50% in a generation … ask about 9 billion people demanding ever scarcer commodities … ask about how America’s debt-burdened taxpayers will react when the Pentagon war-machine demands ever-larger budgets to defend against terrorists, drug cartels and a far bigger threat, a more aggressive China building stealth bombers capable of delivering nuclear weapons, and a China rapidly buying up strategic long-term commodity rights all over the planet, in Australia, Africa, South America and Eastern Europe. Are you asking the tough questions?
Yes, the years ahead will be very threatening for Berkshire. You know it. So does Buffett. But don’t be fooled: His will is more important to him than it should be to you. Why? It will be ineffective crossing the unpredictable global economic minefield ahead, no defense against all the hidden economic IEDs and “weapons of mass destruction” more deadly than derivatives. Buffett may be a legend. But he cannot be cloned. And the economy that made him rich is old news. So forget the will. And forget 2030 …. more in MarketWatch.