“…Over the long term, the eclipse rate of great civilizations being overtaken is 100%. So you know how it's going to end. I'm more optimistic about the staying power of what's good in this country. But just because you have a wonderful spouse doesn't mean you should treat her badly. You have the feeling that some of the old virtues [that made this country great] are lessening. But there's so much good and so much strength left…”
“I still prefer this country, and so does Warren. But we're both troubled deeply by the twin deficits [trade and budget]. [Bad] Things can go on for a long time, starting from our [wealthy] base and especially if other counties have things wrong with them, so it's a very complex subject.”
“I believe that we are at or near the apex of a great civilization….In 50-100 years, if we're a poor third to some countries in Asia, I wouldn't be surprised. If I had to bet, the part of the world that will do best will be Asia.”
“It's crazy to assume that what's happening in Argentina and Japan is inconceivable here. It's not.”
Charlie Munger (Trades, Portfolio) on U.S.-China Tensions: Both Sides Are Equally 'Guilty of Being Stupid'
