NewTraderU/Steve Burns/9-3-2022
“I would not predict that our modern politicians will be as willing to permit a new Volcker to get that tough with the economy and bring on that kind of a recession. So I think the new troubles are likely to be different from the old troubles. You may wish you had you had a Volcker style recession instead of what you’re going to get.”
USAGOLD note: It is worth noting not just what Munger has to say, but the conviction with which he says it. These are deeply held views, Though not a full transcript, the link above includes some of the key quotes from his YouTube interview in text form. “I think the safe assumption for an investor,” he says, “is that over the next hundred years, the currency is going to zero. That is my working hypothesis.” (For more, please see yesterday’s Daily Market Report.)
