Source: ZeroHedge, May 2019
Capitalism has a moral basis. The reason being that unless you have economic freedom you will have no other freedom at all. So the whole of the capitalist society is a moral basis – the basis is that the individual is here to develop his or her talents. He cannot do that without both political freedom and economic freedom. The only kind of society under which you can do that is a capitalist society.
To be free. You have to be capitalist.
Every free society in the world is a capitalist society.”
Source: CNBC, May 2019
Berkshire Hathaway Vice Chairman Charlie Munger said Monday political leaders in the U.S. and Europe shouldn’t push central banks to cut interest rates.
“I am so afraid of a democracy getting the idea that you can just print money to solve all problems. Eventually I know that will fail,” Warren Buffett’s longtime investing partner told CNBC’s Becky Quick in an interview. “You don’t have to raise taxes, you just print.”
“In the end, if you end up printing too much, you end up like Venezuela,” he added. Venezuela, which is now in the midst of an economic and humanitarian crisis, has been used as a cautionary tale about socialism.