http://moneywatch.bnet.com/economic-...grantham/3436/The Mother Of All Price Signals Is Upon Us, Says Investor Jeremy Grantham
Technological advances have brought us cheaper and cheaper resources for the last 100 years, says Jeremy Grantham, one of the world’s leading investment thinkers. But in the last 10 years, prices have retraced all of that benefit, and we are starting to run out of everything — oil, water, fertilizer. Grantham says we are all in for a big readjustment in our lifestyles.
Jeremy Grantham is one of the world’s most successful investors. His firm, GMO in Boston, manages assets of all kinds — $107 billion worth — in markets all over the world. So he’s not a loose cannon operating out of Idaho. He is one of the few people that sold the market before the 2000 tech bubble, and made a point of telling the world why he did. This report is 19 pages long, and represents a tremendous amount of serious research. Jeremy Grantham is an excellent thinker and writer, so it’s worth the time. It’s sobering stuff that makes sense.
The rest of the story is equally sobering. It is also worth checking out Jeremy Granthams whole paper.
Implications for economic growth are profound and final. Thoughts ?