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 ...
Grantham comes across as an ungrateful and selfish man. He's already got what he wants from capitalism ... time now for that to go away and let the elites control the markets and the masses.
Conservatives don't talk in termsof "we" are destroying this, "we" are ruining that.
If this guy has been cutting corners or regrets some messes he has left behind, then he ought to come clean and pay the price.
At the very damned least he should decide if he is an invester or a weatherman.
Makes me see red when some dirtbag tells me what "we" have been doing and how I ought to feel guilty about it.
We’re all gonna die!!!! (someday)
He may actually have a point in that people running corporations almost never think beyond the next quarter.
That can have many bad effects, and not just on the environment.
CNBC, a 90% track record of being wrong at everything!
One of the best worst track records ever!
Dare I add another name to that long list of imbeciles?
"Alan Greenspan on trade: The notion that foreigners are ripping us off is 'nonsense'
"Methinks Greenspan doth protest too much" Perhaps he has made his $20Mil on unfair trace practices........
We deforest the land BS alert lumber companies plant millions of trees they know supplies will run out we have more trees now then the country was founded.
He sounds like we need to back to the caves and scrounge around for food must be a liberal.
The US is doing better on the Environment the any of the other comparable nations because of innovations.
Quick show of hands: more successful nation, US or former USSR?
I thought so.
Well depopulation seems to be working well in Venezuela.
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