Basically, It's Over (economy) - Buffets Right Hand Man

Parent Cafe
1

<p>

</p>

<p>[A</a> parable about how one nation came to financial ruin. - By Charles Munger - Slate Magazine](<a href=“A parable about how one nation came to financial ruin.”>A parable about how one nation came to financial ruin.)</p>

2

<p>So this is what I’ve been wondering…what does “basically, it’s over” mean? If our economy is toast and can’t recover, what will life be like in 10 years for you and me…and for our kids?</p>

3

<p>Sadly we will never be out of the mess we are in, and our children and children’s children are going to be paying for the spending and policies from the leadership of the boomers generation</p>

4

<p>Its interesting that Buffet has the exact opposite belief. He says America will recover like it always does.</p>

5

<p>Wait, is that article saying that we won’t have an economy anymore from here on out? How extreme! I read it a few days ago and I didn’t realize that’s what it meant.</p>

6

<p>Humans are singular in their ability to adapt and change. I’m confident America will be OK … though it may take some time to get there. Hey, the national debt is only a hundred grand per worker. Suspend social security payments until each worker is seventy and we’re there.</p>

7

<p>Anytime someone has to begin an argument by going way back centuries to the Europeans means that they don’t have the evidence to back up what they are going to say.</p>

8

<p>The Titanic is sinking and we all are going to die! Heck, let’s get the party started! So that’s why $1000 Prada bags sell out in less 10 minutes on Ruelala :D</p>

9

<p>

</p>

<p>…Eons ago, as Man was just rising out of the mud, a wise sage said that evidence is not important…</p>

10

<p>Buffett and Munger reported earnings today and they were decent. Berkshire stock price is up about 20% recently though that’s probably partly due to addition to the S&P 500 (long overdue). I never really knew much about Munger as he’s lived in Buffett’s shadow.</p>

11

<p>Welp, I guess I surrender… I’m going to start collecting mud to build my hut out of. </p>

<p>You guys should probably start collecting mud, too.</p>

12

<p>So, I just INCREASED my monthly 401k contribution to try to get my retirement back on track.</p>

<p>You mean I should give up and spend it all now?
Who knew!</p>

13

<p>musicmom –</p>

<p>I recommend spending it all on heroin. All of it.</p>