There is more than one way to figure out the future. As this chart clearly shows.....
Jeremy Grantham is the chief investment strategist for the Boston firm GMO, one of the world’s largest asset management companies ($107 billion in the portfolio at the end of last year). The title of his current newsletter to investors is “Time to Wake Up: Days of Abundant Resources and Falling Prices are Over Forever.” In other words: Brace for Impact. (Okay, he is not saying that the crash of the industrial world has begun, but he is saying, and backing his opinion with the kind of data analysis that made him a gazillionaire, that the main benefits of industrialization — plenty of cheap stuff — are gone.) Continue reading
