<html><head><meta http-equiv="Content-Type" content="text/html; charset=utf-8"></head><body style="word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><div class="">CNN’s reference to “terrifying” suggests that Buffett’s readiness for a next recession is what’s terrifying. His readiness isn’t what's really the scary thing here. He’s far from alone in looking head and sensing trouble for this ever-endangered beast we refer to as “the economy.”</div><div class=""><br class=""></div><div class="">The scary thing, and we’ve been through this before — so that it’s basically pretty predictable -- is what happens when another economic boom goes bust.</div><div class=""><br class=""></div><div class="">That said, CNN does an informative job in describing exactly how seriously Buffett has been getting ready</div><div class=""><br class=""></div><div class=""><a href="https://www.ccn.com/mungers-dire-warning-makes-berkshires-cash-pile-terrifying/" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://www.ccn.com/mungers-dire-warning-makes-berkshires-cash-pile-terrifying/&source=gmail&ust=1581973353380000&usg=AFQjCNHv_k8M5MOE3bO7b_oloLoA_oO8vw" style="color: rgb(17, 85, 204); font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255);" class="">https://www.ccn.com/mungers-<wbr class="">dire-warning-makes-berkshires-<wbr class="">cash-pile-terrifying/</a><div style="color: rgb(34, 34, 34); font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255);" class=""><br class=""></div><div style="color: rgb(34, 34, 34); font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255);" class=""><br class=""><div class=""><div style="color: rgb(0, 0, 0); overflow-wrap: break-word;" class=""><div style="overflow-wrap: break-word;" class=""><div style="overflow-wrap: break-word;" class=""><div style="overflow-wrap: break-word;" class=""><div style="overflow-wrap: break-word;" class=""><div class="">\————————————</div><div class=""><b class="">“Booms have consequences.”</b></div><div class=""><br class=""></div><div class="">Grant, James. Money of the Mind : Borrowing and Lending in America from the Civil War to Michael Milken. Farrar Straus Giroux. 1992</div><div class=""><br class=""></div><div class="">\————————</div><div class="">“<b class="">It is no coincidence that the deepest and most protracted recessions in recent decades have taken hold in countries that experienced booms …” </b></div><div class=""><br class=""></div><div class="">The Economist, July, 2001 </div></div></div></div></div></div></div></div>
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