Salient to Investors:

Jeremy Grantham at GMO says:

  • The global economy is reckless in its use of all resources and natural systems and is showing many of the indicators of potential failure that brought down so many civilizations.
  • Civilizations have an average lifespan of around 250 years.
  • Failing civilizations suffered from growing hubris and overconfidence: that growing signs of weakness could be ignored as pessimistic.
  • However, fertility rates have been falling in nearly every major economy. Neither Malthus nor anyone else before 1960 ever thought we would voluntarily decide to have fewer children even as we became richer – they completely missed declining fertility, a potentially very long-term and hence much more critical factor to the survival of our species.
  • All of the innovations, corporate start-ups, and risk taking work to decrease our use of depleting hydrocarbons and therefore to increase our chance of stabilizing our civilization before the cliff edge is reached.
  • China has the money and the incentive to make big moves in renewable energy development, which would potentially give them global dominance in the most important industries of the future and would relieve them of their greatest single worry: energy security.

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