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Friday, March 29, 2024

Charlie Munger Compares Greece To a “Frivolous, Drunken Brother-In-Law”

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

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 coutesy 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 moar 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.

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