Posted on 06/13/2018 6:09:02 AM PDT by Oldeconomybuyer
Jeremy Grantham, the longtime investor famous for calling the last two major bubbles in the market, is urging capitalists and "mainstream economists" to recognize the looming threat of climate change.
"Capitalism and mainstream economics simply cannot deal with these problems. Mainstream economics largely ignore [them]," Grantham, who co-founded GMO in 1977, said Tuesday in an impassioned speech at the Morningstar Investment Conference in Chicago. "We deforest the land, we degrade our soils, we pollute and overuse our water and we treat air like an open sewer, and we do it all off the balance sheet."
This negligence is due in large part to how short-sighted corporations can be, Grantham said. "Anything that happens to a corporation over 25 years out doesn't exist for them, therefore, as I like to say, grandchildren have no value" to them, he said.
Throughout his presentation, Grantham cited a slew of data showing how climate change is impacting soil, grains, temperature as well as general human health. Those numbers, coupled with Grantham's speech delivery, scared a lot of people in attendance at the conference.
(Excerpt) Read more at cnbc.com ...
Human growth may be pushing the limits.
Think how much worse the effects of human growth would be under socialism. See... Venezuela... to see how a country once developed can devolve. Are today’s Venezuelans green?
Okay, lets all go back to the Indus River Valley civilization and start over..................
yes... invest in GOVERNMENT!
They make so many nice products.
(what the hell kind of investment expert is this guy?)
Are today’s Venezuelans green?
Only the dead ones.....................
What the . . .? What a whack job. His concern about the planet and its resources have nothing to do with capitalism. A good therapist may be able to help this guy however.
Under capitalism man will deal with the negative forces of nature resulting as by-products of his own activities in precisely the same way that he regularly deals with the primary forces of nature.
Furthermore, it must never be forgotten that any harm caused by capitalism is necessarily miniscule in comparison with the good achieved.
Follow the money trail.....
He sees ALL those wonderful potential green-house gas and carbon taxes that would fund his certain investments. He needs to get a life.
Capitalism produces EVERYTHING socialists/communists wish to “redistribute.”
Socialism/communism produces NOTHING socialists/communists wish to “redistribute.”
Socialism/communism can only exist as a parasite of a capitalist host.
Socialists/communists run out of things to “redistribute” the minute they succeed in destroying their capitalist host.
Not to mention that Communists murdered more than 100,000,000 of their own citizen in the 20th century alone.
https://www.hawaii.edu/powerkills/COM.ART.HTM
They are concerned with population and consumption but they want to elevate the standard of living (consumption) of 3rd worlders by importing the people to or exporting money from, successful nations.
If every liberal, socialist, environmentalist, and communist killed themselves, there wouldn’t be any problem.
One who gets rich and then desires to pull up the ladder away from others. In the UK, I believe he would be called a c***.
He’s a pretty remarkable investment expert actually. Very conservative, so he tends to underperform a little in raging bull markets, but makes it up in spades when the bears come in. I know he had well over 100 billion under management at one point.
He’s very skeptical of government solutions. My read of his environmentalism is that he believes people should take responsibility for this without government demanding it.
Did he really call them, or was he given insider information that they were about to happen?
You know what’s worse for the planet Jeremy? Socialism.
The air and water- not to mention industrial sites - in Eastern Europe were utterly FILTHY after the fall of state socialism. They had no money because the system sucked so caring for the environment was the absolute last priority. As such, they burned filthy brown coal and had no scrubbers on their smoke stacks for their power plants. Catalytic Converters got car exhaust? What’s that? They didn’t have any. There’d be clouds of blue exhaust behind every Trabant and Lada with their primitive 2 stroke engines. The air quality was so bad, that living in the city center of any big city in Eastern Europe the amount of soot/exhaust you breathed in was the equivalent of smoking a whole pack of cigarettes. All the buildings were literally black with soot. This lasted up through the mid 90s when, thanks to capitalism, they could get rid of the filthy commie “cars” (they were the size of golf carts) and start to clean up the power plants. It was several more years before they could power wash and clean all the old soot off the buildings.
I know. I lived over there several times from the early 90s to 2004 and saw the gradual transformation to the environment as capitalism steadily increased wealth there. So don’t tell me capitalism and wealth lead to environmental degradation. Socialism and the poverty it causes are far worse for the environment (not to mention the people).
Who’s this “we” he keeps talking about? The US has something like twice the tree coverage it had a century ago.
“...Capitalism and mainstream economics simply cannot deal with these problems...”
Really stupid comment.
Only capitalist countries produce enough wealth to spend the money to reduce pollution and clean up the environment.
Anybody ever heard of this jughead before now?
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