Notes From the Fieldby Martin Weil

August 10, 2011

Seven Lean Years

Jeremy Grantham is at the top of my list of market analysts.  His latest, Danger: Children at Play, provides an honest (no candy coating here) overview of where we are and why it is going to be many years before our economic reality returns to anything resembling “normal.”

As I have told clients since the financial crisis, the resolution to our debt crisis will require some form of sacrifice.  Better for the country that this be shared.  What continues to amaze me is the reluctance of any national leader to invoke this need for shared sacrifice, instead as Grantham notes, preferring to proffer more palatable visions of our road back.

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