Monday, February 22, 2010

It's Over...

In a "parable" about a country called "Basicland,"  Charlie Munger says "Basically It's Over..."  Charlie is Warren Buffett's long time business partner, so it is probably worth a listen.  Essentially, the story of Basicland is a parallel, not a parable about the United States.  The end game of a country that becomes dependent on foreign "coal and oil," whose major industry becomes casino gambling and financial derivatives, that consumes far beyond their means and who loses all ability to manufacture is "Sorrowland."

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