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What Is on Jim Grant’s Mind?

March 29, 2012 | About:

- Grant spoke recently to the NY Fed, where he told the Federal Reserve folks that they were doing everything wrong

- He is concerned about the “Unintended Consequences” of the Fed’s manipulative actions that are impacting asset prices across the board.

- Doesn’t like the Fed plan of boosting asset prices to make people feel good and spend money.

- The Fed is basically overriding the “price mechanism” and is manipulating prices, which is not capitalism.

- Prices should be based on value, not being determined by money printing.

- Grant is finding great value in single family houses.

- Grant thinks China is in the midst of a huge real estate liquidation, and that hopes of China leading the world in growth will lead to disappointment.

- Thinks a Republican winning the election this year would be very bullish.

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