James Grant’s newsletter, Grant’s Interest Rate Observer, is required reading in the financial world, says Switzerland’s Finanz und Wirtschaft (F&W). Grant was among the very first to warn of a dangerous credit and housing bubble. The FT’s John Authers called his prescience “uncanny”.
Grant has never been a fan of central banks. Their easy-money policies helped fuel the crisis, and they are still causing trouble by blowing up bubbles in various markets.
All economists know that price controls are not a good idea, he tells F&W. Yet that’s exactly what the Fed and other central banks do – [...]
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