The Failure of Democracy

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Buffett was very critical of Biden trying to put a 4.5% tax on buying back your stock. But he said, we've become tribal. It's like you got the Republicans who hate the Democrats and Democrats who hate the Republicans. And they're both basically printing money to buy votes. America has about 100% debt to GDP ratio. That's the 100% rate is where Greece went into the toilet in 2011. We're only getting away with that massive debt load because we are the world's reserve currency. Buffett is just saying this is madness to keep printing money. I mean madness is what we're doing. And like we'll pay the price.

As the shock waves dissipate following the 2023 Berkshire Hathaway shareholders meeting, they nevertheless continue to be felt as we come back for a third week of analysis on one of the investing world’s most significant yearly events.

This year’s meeting took place in the midst of a tumultuous period of post-pandemic supply chain disruptions, worldwide inflation, and the looming threat of the next big recession.

In the final episode of this three-parter, Phil and Danielle focus on the role of currency in the current economic crises facing the markets. Listen in as they break down the comments of Buffett and Munger and offer their own insights on the topic.

For more pearls of wisdom from the Oracle of Omaha, get your free copy of the Warren Buffett Book of Quotes: https://bit.ly/3OEPXjL

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