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| Warren Buffett and Charlie Munger |
At the annual Berkshire Hathaway meeting on Saturday, Warren Buffett and Charlie Munger discussed price inflation. Buffett said:
We are seeing substantial inflation...We are raising prices. People are raising prices to us, and it's being accepted.
People have money in their pocket, and they pay higher prices... it's almost a buying frenzy. The economy is "red hot."
There is unlikely to be anyone who is as tied in with the ongoing trends in the basic economy as Buffett. When he sees prices climbing across the board, prices are climbing across the board.
That's what happens when the Federal Reserve has pumped trillions of new dollars into the economy---and they haven't stopped yet.
-RW
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