I’m not a fan of Charlie Munger, Warren Buffett’s right hand man. I haven’t been a fan for a long time but this statement back in 2012 really annoyed me.
Such arrogance. I’m sorry Mr. Munger but not all of us get to drink from the Fed’s fire hose of easy money. For many of us gold is a last resort. Not an investment per se, but a hedge against guys like you. Of course you know that and that’s why you said what you said.
Influence in Washington DC is a good buy. If one has no qualms with using the state to take (legally in most cases) from taxpayers then K Street is where one wants to spend some cash. The returns, particularly of late, have been spectacular.
This is is our crony capitalist system.
Why oh why would all these foreign companies and political muckety mucks want to give hundreds of thousands (in some cases millions) to a foundation controlled by a former Secretary of State who might be the next president of the United States? Do they really believe in the Clinton Foundation mission?
It appears that they do.
He who is prudent and lies in wait for an enemy who is not, will be victorious. – Sun Tzu, The Art of War
Being unconquerable lies with yourself; being conquerable lies with your enemy. – Sun Tzu, The Art of War
As we’ve said before, the SHTF moment to watch for is the day the dollar loses reserve currency status. As we’ve also said, this day is still probably pretty far off. But one gets the sense that things are very fluid and increasingly so in the global money game these days. It’s almost like a financial “cold war.” Nothing happening which is too hot. Which forces any drastic moves. But a war is being waged none-the-less. The US and dollar dominance are under sustained attack and unfortunately we have exposed ourselves thanks to our profligate ways.
Can we get our act together? Can we act like adults in coming years? I don’t know. We take too much for granted. We’ve been fat and happy for a very long time. Perhaps we aren’t hungry enough.
I do think America can be hungry (in the good sense) again however. But there needs to be fresh blood in leadership – political, financial, and elsewhere.
Isn’t it nice when giant corporations (such as Boeing) and government agencies (such as the Import-Export Bank of the United States) come together to figure out how best to jack the American taxpayer? It just makes one feel all warm and fuzzy inside. At least SOMETHING is working in Washington DC. Thank goodness.
Kill the Ex-Im Bank. We’re supposed to have free markets in this country. We definitely shouldn’t have government executives and corporate executives cuddling up with one another. We’re not France.
“Policing for profit” is a problem which stretches from coast to coast. It should not be tolerated.
This is a bit creepy.
Though it is true that there is lots of misinformation on the web, and that the quest for higher quality search results is very good one, that the most used search engine in the world may soon be in the business of defining what is “true” and what is not is of some concern.
Congress didn’t authorize this payment. What gives?
Sadly the answer is all too familiar. Rule of law be damned.
Biden is the quintessential political Cheshire cat. (The Washington DC subspecies.) The guy can smile through anything. Probably a good thing to be able to do if one is Vice President Biden.
“Just keep smiling.
Did I just cozy up to the nominee’s wife on stage? Why did I do that? Oh man. Damn, why can’t I remember to keep it back stage!
Just keep smiling.”
Well here’s a shock. Lloyd “my company should have died in 2008 but was bailed out by the taxpayers” Blankfein doesn’t think there’s a place for free markets. I wonder why?