Some of Jim Grant's observations:
- Bernanke is imposing his views over those of the market by overriding the pricing mechanism (forcing low interest rates).
- Everyone gets excited by insider trading because it manipulates the market, but that is exactly what central banks around the world are doing.
- The harm of this action is the unintended consequences; one such unintended consequence is inefficient businesses surviving (because of low debt cost) which gets in the way of new, more efficient companies to come in.
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