From Newsmax:
Though he expects the economy will look better for a couple of quarters, GMO head Jeremy Grantham says that the long-term imbalance between overproducers like China and overspenders like the United States will be a multiyear drag on growth.
"We're not rich, and we're undersaved and underpensioned," Grantham told Smart Money.
"Those will be a real brake on economic growth."
Still, Grantham says, investors who move swiftly in this market can make money.
"The people who invest in energy alternatives will make more," he says.
"Alternative energies and combating climate change are the single most important economic initiatives over the next 10 years - really over the next 50 years."
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