GMO's Jeremy Grantham's quarterly letter is and embedded below. The crux of the piece is a focus on Malthusian outcomes as too many people in the globe evade stark poverty. An oft cited quote is that if all 7 billion people on the globe lived like Americans (5% of the population), we'd need 4 Earth's to sustain the consumption. Of course as we go forward technology advancements will be made, but Grantham says to expect a world of resource shortages and price increases.
Hit full screen for the easier read
[Aug 3, 2010: Jeremy Grantham GMO July 2010 Letter - Summer Essays]
[Apr 26, 2010: Jeremy Grantham GMO April 2010 Letter]
[Jan 26, 2010: Jeremy Grantham GMO January 2010 Letter]
[Oct 27, 2009: Jeremy Grantham GMO October 2009 Letter]