Forum
  Classifieds
  News
  Localband
  Shows
  Show Pics
  Polls

  OT Threads
  Other News
  Movies
  VideoGames
  Videos
  TV
  Sports
  Gear
  /r/
  Food

  New Thread
  New Poll

E-mail

New site? Maybe some day.

Username:

SPAM Filter: re-type this

(values are 0,1,2,3,4,5,6,7,8,9,A,B,C,D,E, or F)

Message:

UBB enabled. HTML disabled Spam Filtering enabledIcons: (click image to insert) Show All - pop

b i u add: url image video(?)

:	post by arilliusbm at 2010-02-24 08:26:38

woke up to some good news this morning

http://www.thedailybell.com/835/Buffets-Pa...rtner-Says-America-Is-Finished.html

Charlie Munger (pictured left with Buffet), Warren Buffett's longtime business partner in Berkshire Hathaway, warns in a new column that the U.S. economic empire is crumbling before our eyes, thanks to federal debt and poor planning. In an article penned for Slate.com, Munger uses the form of a parable to explain how Wall Street's love affair with gambling has destroyed America's Main Street. The article leads with this headline: "Basically, It's Over." The Berkshire Hathaway vice chairman describes the economic history of Basicland, which happens to match U.S. history. Early in its history, debt is unknown except for home mortgages and some consumer loans, and people live within their means. Speculation is discouraged, and commodities markets are small and tightly regulated. Under this rational system, economic growth skips merrily along at a steady 3 percent, Munger explains. Taxes are limited and pay for only "essential services" like fire protection, courts, and defense. Most taxes are collected on imports, and government spending matches that tax income. Debt via government bonds is limited. Then things take a turn for the worse.

[default homepage]

[print][

6:48:27am Jun 01,2024
load time 0.01914 secs/10 queries]

[search]

[refresh page]