Tag Archives

Archive of posts published in the tag: James Grant

An Addiction to Low Interest Rates

It seems that this can go on indefinitely because we cannot envision the central banks losing control of interest rates, but absence of evidence is not evidence of absence. Believers in Modern Monetary Theory mistake this trend for a true principle. Central banks will remain active in controlling interest rates because the debt is so large that any spike in interest rates would be disastrous. We are stimulating a zombie economy reliant on low interest rates provided by a central government even more dependent on low interest rates.

Read More

The PhD Standard Has Replaced the Gold Standard

“We have moved to the PhD standard from the gold standard.” A very short but very wise assessment from James Grant. Mr. Grant makes a point that explains more than just the Fed and an obvious failure in monetary policy.…

Read More