Jim Grant: Disinflation For The Short Run, Inflation For The Long Run

The Julia La Roche Show, Released on 2/17/23

0:00 Intro
0:38 How we got here
1:30 Monetary realm as an area of concern
2:29 Defining the dollar
2:57 Biggest change in the sweep of financial history
4:30 Gold standard
5:50 Defining the dollar? How has it evolved
6:50 Weaknesses of the dollar
9:47 Lockdowns wouldn’t have been feasible
10:30 Origins of the great bulge in public debt
13:55 Fed actions during the pandemic
16:43 Excesses in our financial and fiscal lives haven’t been fully felt yet
17:37 Rate of growth in debt far outstripping means to service it
20:30 Fed is going to carry us all into the poorhouse
22:00 Worrying about the debt
26:59 Outlook on the U.S. dollar
28:30 A poisoned chalice
30:00 Better if we lost the world reserve currency franchise
32:57 Gold
36:06 Central bank gold buying
38:20 Higher for longer?
41:00 Why the Fed might retreat?
45:00 Inverted yield curve
49:00 Does the yield curve predict a recession?
51:30 Bond market and interest conundrum
58:00 The Forgotten Depression
1:01:00 Setting up Grant’s Interest Rate Observer

James “Jim” Grant is an American writer and publisher and the founder of Grant’s Interest Rate Observer, a twice-monthly journal of the financial markets. He is the author , most recently, of The Forgotten Depression: 1921: The Crash That Cured Itself. Grant’s television appearances include “60 Minutes,” “The Charlie Rose Show,” Bloomberg TV, CNBC and other well-known financial news sources. His journalism has appeared in a variety of periodicals, including the “Financial Times”, “The Wall Street Journal” and “Foreign Affairs.”

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