About one-third of global GDP growth in the last 20 years was devoted to either correcting or avoiding natural disasters, and this proportion will 'get bigger and bigger until it's 130%' — meaning growth is already being cannibalized by climate adaptation, leaving only contraction for real economic expansion.
factualpending
Speaker
Jeremy GranthamEvidence Quote
“about a third of our GDP growth was either correcting or avoiding natural disasters...that number will get bigger and bigger until it's 130%”
Source
Jeremy Grantham on why this market will fall by 50% but nobody will warn you— Behind the Balance SheetCreated: 8/12/2026, 5:57:13 PM
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