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Citing examples from the Roman Republic to Adolf Hitler to Latin America, Munger said, “Inflation is a very serious subject, you could argue it is the way democracies die.”
Daily Journal Chairman and Berkshire Hathaway Vice Chairman Charlie Munger weighs in on inflation and the dangers that it poses to democracy.
The higher demand caused by the U.S. government's $5 trillion aid spending exacerbated supply-side issues in the United States; according to the Federal Reserve Bank of San Francisco researchers, this contributed 3 percentage points to inflation by the end of 2021. [25]
Democracy is associated with higher human capital accumulation, lower inflation, lower political instability, and higher economic freedom. [11] Democracy is closely tied with economic sources of growth, like education levels and lifespan through improvement of educative institutions as well as healthcare.
The United States debt ceiling is a legislative limit that determines how much debt the Treasury Department may incur. [23] It was introduced in 1917, when Congress voted to give Treasury the right to issue bonds for financing America participating in World War I, [24] rather than issuing them for individual projects, as had been the case in the past.
The 19th Century spending law banned the government from entering into contracts without congressional approval; for almost a century, if there was a gap in budgets, the government had allowed ...
In an exclusive interview Wednesday with Yahoo Finance Editor-in-Chief Andy Serwer, legendary investor Charlie Munger weighed in on the high stakes of soaring inflation in the United States.
A statement on the government's website said the State Council had approved a plan to invest 4 trillion yuan in infrastructure and social welfare by the end of 2010. [5] [6] This stimulus, equivalent to US$586 billion, represented a pledge comparable to that subsequently announced by the United States, but which came from an economy only one third the size. [7]