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> We are, he says, in the midst of a historic period of mispricing. Because the global economy depends on hydrocarbons, practically every asset in the world rel
by _bxg1 8y ago
> We are, he says, in the midst of a historic period of mispricing. Because the global economy depends on hydrocarbons, practically every asset in the world relates in some way to oil and gas. Grantham believes hydrocarbons will be priced, or regulated, into submission. In light of that belief, not only oil companies’ stock but practically everything else on the market looks falsely inflated.
Good. Let their money burn.
- brandmeyer 8y agoThe flip side of this coin is that there are trillions of dollars of self-interest in ensuring that those resources get mined out and sold.
- D_Alex 8y agoCoal should be the starting point. >Let their money burn. Unfortunately, it will not be just "their money" if the economy has a hard time weaning itself off oil and gas. It will be everybody's money, and lifestyle.
- plankers 8y agoGreat, let our money burn. Will be worse for those with money to lose!
- DubiousPusher 8y agoIf only it were. Periods of economic upheaval fall much harder on the poor.
- plankers 8y agoBring it on, mate. Fucked is fucked, after a point all relativities are pretty meaningless. It would be worth it to see Teslas being reposessed and vacancies in SF high rises.