jimbrownbrandes

Gas Lines Coming This Fall

It could be true that much of information about inventories and production cited in this article are true, but there is one glaring error: It is impossible for widespread gas lines to develop unless there are government-imposed price controls or some other equvalent form of rationing. Absent price controls, or their equivalent, spot shortages will quickly be corrected by market action. Go back to the early 1970s and look: you will see that shortages only developed in an era of price controls. Let's hope government has learned from history and will refrain from this type of foolish action.

Berkshire Hathaway Sees Opportunities in Europe and Bond Insurance

Charlie Munger obviously did not read Ayn Rand! It is ludicrous to claim that Alan Greenspan is an actual advocate of the free market: he ran the Fed, which fixes the price of debt every day. Second, anyone who knows Greenspan and Ayn Rand know that he broke with her views long ago. Charlie should catch up on his reading.