Can Inflation Be Cheerful?

Charlie Munger: In 1981 shareholder letter, you discussed returns on equity, interest rates, and inflation. Today, it seems like every central banker in the world is desperate to create inflation," he says. "I think the slowness deters more people than anything else" Berkshire would be worse off if U.S. was flooded with $1 million-a-households by drone strikes; but some assets that are highly leveraged could benefit.