Good morning everyone.
I have never listened to a long Charlie Munger Q&A but I just did. I blame my age.
But…it was pretty, pretty, pretty good.
Charlie has been talking about ‘wretched excess’ a lot over the years and he is right. He is worried about how ‘money printing’ has always ended with inflation and busted economies and ‘strongmen’. He has no idea when this end might or will happen for the USA but we are closer to terrible trouble.
Charlie also talks a lot about envy and how it drives people which was my favorite part. With social media and the wealth gap, the combination of envious and angry people is a horrible cocktail.
Have a great Saturday.