Wednesday, March 25, 2015

Quote of the Day

March 25, 2015
Munger Says Prepare for Harder World as Buying Power Slides

(Bloomberg) -- Charles Munger, who became a billionaire while helping Warren Buffett build Berkshire Hathaway Inc., predicted it’s going to get tougher for consumers to maintain their standard of living in coming decades.

This would probably be a depressingly bad time to point out that real median household income is at 1989 levels after peaking in 1999.


Rob Dawg said...

I wonder what the Mandarin translation actually says.

mab said...

Welcome to the party Charlie!

The good news is that real medium household income can theoretically rise in perpetuity.

So we got that going for us, which is nice!

Stagflationary Mark said...

Rob Dawg,

The only Mandarin I know comes in the can. Um, oranges. Not the toilet. ;)

Stagflationary Mark said...


Well done!

I'd like to claim my steak of the prosperity now, but the medium is so rare! ;)

mab said...

Well done!

Raw Deal, v2.0!

Recall that Munger's message to ordinary Americans post financial crisis was to "suck-it-up".

Stagflationary Mark said...


Suck it up? Sounds like a straw man argument to me.

Shake it up! Brain freeze! Let's get all wild and crazy with vanilla! Can I get fries with that? You bet I can! Even odds if it's Payday Loan Friday!! Woohoo!

Happy frickin' fun meal, baby. That's what I'm talking about.

mab said...

Payday Loan Friday? Nice!

The one thing that honest hard working Americans want is a fair shake. Their chance to take a shot at the title loan!

Financial innovation baby! Get u sum!

Stagflationary Mark said...


They want a fair shake, eh? Thar's too bad. Should have picked the sher bet, because all we got left is Rocky Road.

Well, that's not quite true. Butt 'r' Peak Can isn't exactly flying off the shelves. Was once popular with the survivalists. Only treat we got that stores indefinitely and doubles as a makeshift toilet. ;)

Anonymous said...

It will only be worse IF debt load can't be increased.

But, I've been wrong for decades about how much debt there can be.

So, who knows...

begob said...

"Suck it up? Sounds like a straw man argument to me."

Bravo! But you let the Camel's Back take a break.

Stagflationary Mark said...


Grow or die! Tis the locust way!

Stagflationary Mark said...


Camel's back? Sounds like a pack of lies to me! Oh, well. Smoke 'em if you got 'em.

Troy said...

If we could eliminate our housing expense we'd liberate $2T of spending power.

shows health care is another $2T rent tap.

So if I go live out on BLM land and avoid the doctors too I'll cut $3000/mo out of my budget right there.

Seriously, housing is why everyone's broke.

But like fish in water, nobody can see this.

Stagflationary Mark said...


Land was once free in the home of the free. But then we decided to add 300 million people or so. Perhaps we'll be satisfied when we have a few hundred billion.

And when I say satisfied, I really mean totally f#%ked.