Charlie says that we're flirting with serious trouble and the consequences may be worse than what Paul Volcker was dealing with in the 1970s.

Being a vice chairman of Berkshire Hathaway and the closest partner (right hand man) of Warren Buffett, Charles T. Munger has a net worth of around $2 billion. He is a profoundly wise man who is absolutely worth listening to, especially when it comes to investing, the psychology of wealthy people, rationality, and life experience.