Jeremy Grantham,
"Time To Wake Up:
Days of Abundant Resources and Falling Prices
Are Over Forever"
[excerpt:]
"Any improvement at all in lifestyle for our grandchildren will take much more thoughtful behavior from political leaders and more restraint from everyone. Rapid growth is not ours by divine right; it is not even mathematically possible over a sustained period. Our goal should be to get everyone out of abject poverty, even if it necessitates some income redistribution. Because we have way overstepped sustainable levels, the greatest challenge will be in redesigning lifestyles to emphasize quality of life while quantitatively reducing our demand levels."
Quarterly investment letter viewable here.
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