Last week, British billionaire investor Jeremy Grantham made headlines after claiming the US was now in the middle of a “superbubble” – and that a historic share market crash was looming.that the world had enjoyed a “Goldilocks” period of relative economic stability for the past quarter of a century – but that the good times were now ending.
He said that gloomy outcome was driven by a range of factors including a lack of raw materials, falling birthrates and increased global tensions. Mr Grantham, the founder of investment and asset management firm GMO, also said environmental disaster would also wreak havoc with the global economy. He said the US was now in the midst of its fourth ever superbubble, following previous bubbles in 1929, 2000 and 2008, but that a crash was coming.
Will humans suddenly reverse their resource consumption, environmental destruction and pollution creation? Only when resources and a habitable environment no longer exist. Ask yourself, how many self-centred, short-sighted people do you know? What about the person in the mirror?
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