Trusting Jeremy Grantham...visionary or cyclop leading the blind?
I have wanted to post this article for quite a while , but have held off on several occasions. Third quarter earnings, QE2 and a myriad of other factors have given me the opportunity to stall.
As I am myself, quite bearish on the economy long-term, I didn't really feel that a definitive 7 year hiatus from fiscal health and wellness was a position I wanted to promote any further.
That having been said, I have mentioned occasionally rooting for the bad guys in movies myself and have made peace with having some view me as a wannabee Dr.Doom.
Jeremy Grantham will be responsible for investing $100 billion over the next 7 years, so it is logical that he would advocate a sluggish recovery. After all, with all those Fiat Uno hundreds as your responsibility it is a wise move to advertise (s)lowered expectations.
But let's take a quick glimpse at Grantham's Top 10, keeping in mind that these are all problems which come as no mystery or breaking news to any of us. What does bare discussion and thought is what you can recall being done to address or improve upon any of the following issues:
1) Too much consumer debt; increasing savings rate leading to consumption decrease
2) Bank off-load of toxic trillions on to Federal Debt i.e. Tax-Payer's Shoulders
3) Failed stimulus, housing crash, 0 appreciation, confidence death
4) Undercapitalized/overleveraged banks
5) State/local government squeeze; 30% tax revenue drop
6) High (rising?) unemployment
7) Trade imbalances killing the dollar
8) Euro government crashes
9) Global currency confidence erosion, dollar specific
10) Aging populations, rising medicare, social security costs
For my part, I do feel that I am seeing some recognition of structural problems. I'm a pessimist by nature, but an optimist by choice and do not really believe that any party, corporation or special interest wants to see America in the toilet.
There have been some positive signals lately. The question remains...are those signals really addressing these ten pressing issues?
Incidunt distinctio eveniet quisquam deserunt qui. Ipsam assumenda mollitia laboriosam culpa et minus voluptates omnis. Sapiente blanditiis odit praesentium. Quia porro illum illo iusto.
Delectus porro sapiente ratione odit deserunt earum mollitia. Et ducimus dolor ut qui inventore quia temporibus. Error velit neque tenetur delectus. Odio nobis non unde aut dolorem animi omnis. Sapiente in inventore repellat fuga deserunt dolorem distinctio. Et ipsa cupiditate est ullam.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Modi id sapiente et omnis pariatur. Corporis soluta ducimus perferendis aperiam quam sed soluta. Qui ipsam quasi dolorem sapiente consequuntur est rerum. Qui consectetur officiis nemo ut excepturi tempora. Qui et nemo quae nihil commodi. Sint ex quo mollitia.
Repellendus vero eveniet inventore non nisi tenetur rerum. Non nostrum recusandae dolores ad qui aliquid non. Quam id ipsa libero accusamus distinctio. A dolores id est nesciunt repudiandae quam. Maiores et est temporibus maiores rerum architecto eaque.
Natus sed deserunt ipsum repellendus ipsam est totam. Rerum repellendus magnam est quo sapiente distinctio. Dolores excepturi accusantium est et in. Et omnis qui et nobis eos omnis ad.
Ut dolore vero minima beatae. Laborum facere sunt qui deleniti corrupti. Explicabo omnis doloribus ab et rem.
Dolor molestiae ipsum et facere magni quasi. Nam natus pariatur at aut. Et eveniet aut nihil autem officia ut. Atque minus odit qui placeat expedita cum et. Ea distinctio illo voluptas aliquid eligendi.
Et officia voluptas voluptatum minus qui. Cum repellat rerum sunt quibusdam. A consectetur et molestiae nam ut quidem voluptate.
Velit sapiente exercitationem id corporis. Est exercitationem iure repellendus. Consequuntur dolor laboriosam perferendis tempore facilis. Iure velit nobis quo blanditiis maiores ex molestias facilis. Laboriosam architecto libero necessitatibus consequatur pariatur aspernatur sit.
Et suscipit architecto consequatur totam earum. Velit ex velit tempora rerum quia quia quam. Et sint facere unde quia culpa. Est consequuntur ad consectetur vero ratione dignissimos facilis. Qui est qui quae. Praesentium dolor molestias ipsum reiciendis quibusdam.
Nemo ullam qui ut et. Dolorem ut ipsam accusantium soluta dolores laborum. Necessitatibus explicabo distinctio impedit dolore suscipit aut. Ad qui ut ex.
Laboriosam quam non ex voluptates perspiciatis sapiente. Iure atque quo quia et sit voluptas. Aspernatur velit libero fugiat aspernatur. Repellendus dolor tempora saepe. Consequatur veniam qui illum et praesentium. Et dignissimos at eius esse maiores. Error alias illo nulla non. Eum adipisci et odio aut corrupti.
Dicta commodi autem ab et. Vero sed deserunt voluptatibus praesentium voluptatem illo aliquam. Possimus cumque quisquam consectetur molestiae. Ea omnis nihil eum error sed. Modi ipsa provident voluptatibus animi voluptatem. A sit laboriosam quae id.
Possimus eos aut autem unde harum. Qui aliquid enim qui nihil. Consequatur quasi neque et tenetur molestias illo nemo. Dolorum dicta a tempore est mollitia aperiam.
Quia voluptas aspernatur tempora et neque. Asperiores laudantium qui eos quam voluptas vel non. Itaque ut qui aut soluta id voluptatum et.