Hi, Shrewd!        Login  
Shrewd'm.com 
A merry & shrewd investing community
Best Of BRK.ABest OfAll BoardsThe Shrewd’m WeeklyLearn to InvestHow to Become Shrewd
Search
Shrewd'm.com Merry shrewd investors
Search
Best Of BRK.ABest OfAll BoardsThe Shrewd’m WeeklyLearn to InvestHow to Become Shrewd


The week's question
In December 2024, in the thread "Re: BRK: Why Not XOM?", BreckHutHigh asked the members: "What about the long road trips with kids?" This week it is put to everyone again. The button below opens the small thread re-asking it - read what others have said so far, then give your own answer as an ordinary reply.
Answer this questionContinue to Shrewd'mThis note won't appear again
Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A)
Unthreaded | Threaded | Whole Thread (58) |
Author: OrmontUS   😊 😞
Number: of 21944 
Subject: Re: Buffett’s view on current account deficits
Date: 04/14/25 7:18 PM
Post New | Post Reply | Report Post | Recommend It!
No. of Recommendations: 2
Ralph,

My answer necessarily is a gross oversimplification, but there are a number of other differences between most (there are a couple of exceptions) European nations and the US - both tax/economics-wise and political structure.

Most nations in Europe do not have the "reserve currency" Status of the US dollar. They generally have a VAT/GST type of sales tax embedded in the price of manufactured goods (and possibly services) as well as income tax rates which we, in the US, would deem laughably high. That gives them the ability to finance national health programs and free education (in some cases, through post-graduate school). Their minimum wage and benefit programs allow for much more vacation time, liberal maternity leave etc. In short, far happier general populations than we have in the US.

Politically, countries generally follow the "parliamentary" system of government with loads of parties. This forces sometimes awkward coalitions to choose their chief executives. In the United States version of democracy (but certainly, not one-person, one-vote), our two-party system has protected our three-pillared government quite well since its inception - with a break or two including a bloody civil war. That said, the concentration of power which has gravitated to the executive branch seems to have shaken people up. As far as enacting policies which might make them unelectable - well, forgetting about past generations, Europe currently is home to Puttan, Orban and Erdogan (well, more or less Europe).

Jeff
Post New | Post Reply | Report Post | Recommend It!
Print the post
Members reply directly to OrmontUS here — and replies get answered. Reading is free; so is joining the conversation. Join Shrewd'm »
This community has written 21,448 posts about Berkshire Hathaway. The article-length ones it recommended most:
BRK: Why Not XOM? · 62 recs · 2024
Second quarter comments · 60 recs · 2023
Berkshire's Profit Contributors · 57 recs · 2023
Summary of 2Q 2026 · 54 recs · 2026
3Q Summary · 53 recs · 2024
Unthreaded | Threaded | Whole Thread (58) |


Announcements
Berkshire Hathaway FAQ
Contact Shrewd'm
Contact the developer of these message boards.

Best Of BRK.A | Best Of | Favourites & Replies | All Boards | Followed Shrewds | Open Questions | Moving a community