
Warren Buffet's 2015 summary to Berkshire Hathaway shareholders [pdf] - troydavis
http://www.berkshirehathaway.com/letters/2015ltr.pdf
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perseusprime11
Elitist view:

"It’s an election year, and candidates can’t stop speaking about our country’s
problems (which, of course, only they can solve). As a result of this negative
drumbeat, many Americans now believe that their children will not live as well
as they themselves do. That view is dead wrong: The babies being born in
America today are the luckiest crop in history. American GDP per capita is now
about $56,000. As I mentioned last year that – in real terms – is a staggering
six times the amount in 1930, the year I was born, a leap far beyond the
wildest dreams of my parents or their contemporaries. U.S. citizens are not
intrinsically more intelligent today, nor do they work harder than did
Americans in 1930. Rather, they work far more efficiently and thereby produce
far more. This all-powerful trend is certain to continue: America’s economic
magic remains alive and well. Some commentators bemoan our current 2% per year
growth in real GDP – and, yes, we would all like to see a higher rate. But
let’s do some simple math using the much-lamented 2% figure. That rate, we
will see, delivers astounding gains."

Middle class is suffering. Averages always look good on paper.

