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 Thomas Gresham | Categories: Other
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