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05-26-2009, 07:21 PM #1
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Grantham: Expect Years Of Economic Drag
Grantham: Expect Years Of Economic Drag
Tuesday, May 26, 2009 8:07 AM
By: Julie Crawshaw
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 Unites 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.
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