Jim Grant Vs Brad DeLong with the WSJ

Jim Grant and Brad DeLong recently interviewed with the WSJ. They talk about monetary matters, speculation & market trends.

 

 

Summary:

 

  • QE is manipulation of the price level and inevitably has intended and unintended consequences.
  • Ben Bernanke takes worrying pride in manipulating the dollar to achieve higher stock prices. Are fake prices good?
  • The Fed has an implicit 3rd objective – to engineer higher stock prices.
  • People worry about the banks’ capital. The problem is that they lack capitalism

See here for our collection of rare historical economic data.

Posted Jun 17, 2011
by | Categories: Other