Berkshire's (BRK) Warren Buffett Losing Credibility in Twilight Years

Berkshire Hathaway's (NYSE:BRK-A) Warren Buffett has gradually undermined his credibility over the last several years, possibly significantly weakening his legacy, as he has forgone his own advice and stepped outside his expertise and entered into the macro-economic fray, where he is far from an expert, and which he revealed himself as very politically partisan, ruining what had in general, been a more objective participation in the past.

Buffett has moved almost lockstep economically with Obama, support his Keynesian practices of printing money as the answer to all our economic ills. Buffett has also ridiculously called for higher taxation of the productive, using the tired old idea of everyone needing to pay their "fair" share, even though the wealthy pay far more in taxes than everyone else.

In the end, Buffett and Berkshire wildly benefit from big government and their intervention in the free market, and his inputs have been colored by that self-enhancement.

Warren Buffett years ago broke away from his father Howard Buffett economically, who supported liberty in the markets, and life in general, looking for much smaller government.

The worst offense, to me, with Warren Buffett, is his recent declaration the cut in the AAA credit rating in the U.S. was uncalled for, not noting Berkshire Hathaway is a major holder in S&P's competitor Moody's (NYSE:MCO).

You have to question Buffett's credibility or ability to think straight any longer, as to suggest that the U.S. is financially healthy and should continue to be rated AAA, suggests the loss of one or the other, maybe both.

Most people, even his economic detractors, have always had respect for Warren Buffett, who is fact is probably the greatest investor of all time. But to see him speaking as he has, points to either a loss of integrity or a weakening of his faculties. Either way, there is now a taint on Warren Buffett history will probably take note of, which hadn't been there in the past.

The bottom line is Warren Buffett is no longer an economic bellwether, and for whichever reason, can no longer be trusted as he has been in the past.