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Wednesday, June 30, 2021

Berkshire's Charlie Munger says China right to clip Jack Ma's wings — Reuters

The 97-year-old told CNBC in an interview alongside Berkshire CEO and billionaire investor Warren Buffett that the United States should take a leaf out of China's book and "step in preemptively to stop speculation".

I said the same when they did it. They obviously learned from the failures of the US in this regard that led to a global financial crisis and threatened depression in response to which the US ensuring US legislation and regulation was weak and misdirected, so the issues largely remain. As Sen. Dick Durbin said, The bankers control this place (Congress). Not in China. They are out in front of it, which is necessary for modern countries, which are credit-based. Inadequate institutional arrangements in finance create perverse incentives and moral hazard.

The Economic Times — Markets
Berkshire's Charlie Munger says China right to clip Jack Ma's wings
Reuters
Berkshire's Charlie Munger says China right to clip Jack Ma's wings

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5 comments:

  1. Andrew AndersonJune 30, 2021 at 10:46 AM

    Not in China. They are out in front of it, ... Hickey

    What's that saying? "Ya can't cheat an honest man"?

    So I expect that the Chinese government will eventually succumb and be captured by the Chinese banks - same as the US government has been captured by its banks because they hold the economy hostage.

    God is not mocked, you know?

    ReplyDelete
  2. Peter PanJune 30, 2021 at 5:32 PM

    Fly west, little billionaire.

    ReplyDelete
  3. Matt FrankoJuly 1, 2021 at 8:32 AM

    https://www.cnbc.com/2019/05/06/charlie-munger-be-afraid-when-a-democracy-thinks-it-can-print-money-to-solve-all-its-problems.html

    ReplyDelete
  4. Peter PanJuly 1, 2021 at 11:26 AM

    Charlie munnie munger.

    ReplyDelete
  5. S400July 1, 2021 at 4:15 PM

    Sure Charlie is a afraid. His position as an oracle would be no more.

    ReplyDelete