by Paul B. Farrel
Tuesday, February 23, 2021
Published on MarketWatch.com
In a commentary about the end of Capitalism as we know it, Farrel quotes Charlie Munger, Warren Buffet’s long time business partner, who warns that "It's over for America. Yes, "o-v-e-r," America's in decline, at the end-of-days, coming to "financial ruin." Munger compares investors to gamblers and Wall Street institutions to casinos. The article states “Munger is not just talking about the million or so gamblers working in Wall Street's "too big to fail" casino-banks. No, "gamblers" are also among Main Street America's 95 million average investors, though most of the high rollers are the professionals on casino payrolls where most of their revenue now comes from bets on security prices under an outdated system used in the 1920’s. In the piece the author laid out 10 scenes that lead to the end of capitalism.
Munger’s solution: Americans should get into action and launch the "Second American Revolution."
To Read the entire article, and I suggest you do, go here.
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