This piece was reprinted by OpEd News with permission or license. It may not be reproduced in any form without permission or license from the source.
It's the equivalent of not dealing with a metastasizing cancer until the patient dies or is too far gone to save.
Adding his own grim assessment, Grantham said if we keep "drift(ing) around rudderless, if we don't develop some real (nowhere in sight) leadership soon, then seven lean years may be the least of" America's woes.
Commenting on the August 4 market rout, he added that it "always (has a) disturbing habit of ignoring the obvious and ignoring it some more, until, in the blink of an eye, it doesn't."
On August 4, it blinked, making "risk avoidance....a good idea," Grantham believes that may be his polite way of saying watch out! I warned you! There's no visible light at the end of this tunnel, getting increasingly darker. Watch out indeed.
In fact, a deepening global Depression just began. It'll last years before ending, and cause grave harm to billions worldwide, not responsible for their leaders' malfeasance, especially those domiciled on Wall Street, complicit with political puppets in Washington they own.
Moreover, the greater pain caused, the more they benefit like their Western counterparts, wrecking their economies for personal gain.
No wonder astute analysts like Grantham expressed lack of confidence in America's leaders, disgust with a "dysfunctional Congress," and questioned "capitalism itself," perhaps self-destructing as he wrote.
For billions of global victims, it can't happen a moment too soon, if it isn't already too late to help.
Next Page 1 | 2 | 3 | 4 | 5 | 6
(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).
2
2
2
