Charlie Munger, late vice chairman of Berkshire Hathaway Inc BRKBRK, previously offered his candid views on immigration and national policies, emphasizing the need for more effective border control. Years later, immigration is a key topic in the 2024 election.
What Happened: During a 2019 interview, Munger commended the effectiveness of countries like Singapore, noting their strict yet efficient immigration policies. He acknowledged the complexity of the issue, suggesting that while the U.S. should remain welcoming, it must also implement more rigorous controls to manage inflows effectively.
“I think we should have way more control over our borders than we do,” Munger stated, highlighting a pragmatic approach to immigration that balances openness with national interests.
Reflecting on the 2019 political landscape, Munger expressed concern that partisan divides are hindering rational policy-making. He pointed out that “Donald Trump is right on that,” referring to the former president’s stance on border control, and criticized the Democrats for opposing him out of sheer animosity.
“They hate him so much that they’re against him even when he’s right,” Munger said.
With both Donald Trump and Joe Biden putting increased emphasis on immigration and border control during the 2024 presidential race, prison stocks gained after the first presidential debate.
A look at the 10-year chart for Geo Group Inc GEO from Benzinga Pro below shows the stock gaining into the 2016 election won by Trump before falling. A similar run-up is happening now ahead of the 2024 presidential election.
Why It’s Important: Munger’s perspective extends beyond immigration to a broader critique of the current political climate.
He lamented the extreme partisanship that, in his view, blinds both parties to rational decision-making.
“Both parties are so partisan now that they’re blinded by their anger,” Munger said, calling for a return to a more cooperative and less divisive political environment.
In essence, Munger advocates for a balanced and sensible approach to immigration and national policies, one that prioritizes national interests while remaining compassionate. His insights call for a depoliticized, pragmatic approach to policy-making that transcends partisan divides.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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