Of Interest

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Sunday, September 2, 2012

Two Guys in Bow-ties Jim Grant

The bow-tied-and-bespectacled bringer-of-truth was on Bloomberg tv this providing his own clarifying perspective on what we should hope for (and what we should not) from Jacksons Hole this weekend. Jim Grant's acerbic comments on Krugman's view of the world, on the gold standard as a "force for growth and stability", and the "unproven and truly radical methods" of the SNB and Fed, pale in significance when he is asked about the stock market distortions: "I think we live in a hall of mirrors in finance thanks to the zero interest rate regime and the chronic nonstop interventions," and when asked when Bernanke should start raising rates, the simple (yet complex) response is "Last Year! And Eric Rosengren would be in a different line of work." Must watch to understand the central-banker-meme-du-decade.

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