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Buffett/Munger are always betting on economic growth; that's arguably meta-thesis of their portfolio - that America is so good at creating wealth you can safely bet on it. Marc has often talked about how people are moving and switching jobs *less* often than 20 yrs ago. Crazy.
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Agree, but they did bet on dynamics & form of the drivers of economic growth not changing. Can you link me to any interview for the second point? The dominant narrative right now is how millennials keep hoping jobs & no one sticks around for years until retirement.
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Ya, the narrative is wrong. We talked about it in person, best data is probably from BLS, not sure of a good link to provide.
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Bonkers how much of what we believe are shared myths.https://twitter.com/sarthakgh/status/1009611426275577856?s=21 …
End of conversation
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Economic growth is tied to population growth as well. Fewer babies and immigrants means a stale work force and slowing growth.
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