Having previously effused over gold and holocaust jews, bailouts, and handouts, Buffett & Munger took aim at Europe, well, more implicitly Greece, during today's annual octagenerian-fest.
- Munger on Euro strains: You shouldn't create a partnership with your drunken, shiftless brother-in-law.
- And Buffett's (implicit Grexit) retort: the euro can and probably should survive but it will take some changes...
As he previously said, Germany must stop Greek dog peeing on its rug.
Buffett added...
- *BUFFETT SAYS EURO IN ITS PRESENT FORM WON'T WORK
- *BUFFETT SAYS EURO IS FLAWED BUT CAN BE CORRECTED
With just a little hard austerity or Grexit?
* * *
And here are some previous pearls of wisdom to the plebes courtesy of Chuckie Munger:
Stop whining about bailouts: "Hit the economy with enough misery and enough disruption, destroy the currency, and God knows what happens," Munger said. "So I think when you have troubles like that you shouldn’t be bitching about a little bailout. You should have been thinking it should have been bigger."
Stop whining for more handouts: "There's danger in just shoveling out money to people who say, 'My life is a little harder than it used to be... At a certain place you’ve got to say to the people, ‘Suck it in and cope, buddy. Suck it in and cope.'"
Gold: "gold is a great thing to sew onto your garments if you're a Jewish family in Vienna in 1939 but civilized people don't buy gold - they invest in productive businesses."
* * *
So they are both well worth listening to, we are sure.. since they have so much money.
Comments
Log in or sign up to join the conversation.