|James Grant on inflation
|"Grant will discuss the Fed's about-face on inflation, the battle it faces to bring it under control, the implications for financial markets, and two investment ideas for this new investment era." [video]
|James Grant interview
|"A different investment world. Financial Thought Leader, James Grant, Editor of Grant's Interest Rate Observer declares the 35 year bull market over and sees few opportunities to replace it." [video]
|James Grant on WealthTrack
|"Are dangerous cracks already appearing in the foundations of the world's bond markets? In a rare interview, financial historian and bond market analyst James Grant, publisher of Grant's Interest Rate Observer warns of the building investment fault lines." [video]
|America's default on its debt is inevitable
|"This is the unsustainable conceit of the world's superpower-cum-super debtor. By deed, if not audible word, we Americans say: 'The greenback is the world's great monetary brand. You have no choice but to use it. Like it or lump it.' But the historical record of paper currencies is clear: Governments always over-issue it. The people finally do lump it."
|Grant vs Rosenberg
|"Terrific debate on whether US Treasuries are overvalued between James Grant and David Rosenberg"
|Requiem for the dollar
|"Ben S. Bernanke doesn't know how lucky he is. Tongue-lashings from Bernie Sanders, the populist senator from Vermont, are one thing. The hangman's noose is another. Section 19 of this country's founding monetary legislation, the Coinage Act of 1792, prescribed the death penalty for any official who fraudulently debased the people's money. Was the massive printing of dollar bills to lift Wall Street (and the rest of us, too) off the rocks last year a kind of fraud? If the U.S. Senate so determines, it may send Mr. Bernanke back home to Princeton. But not even Ron Paul, the Texas Republican sponsor of a bill to subject the Fed to periodic congressional audits, is calling for the Federal Reserve chairman's head. I wonder, though, just how far we have really come in the past 200-odd years."
|From bear to bull
|"Though we can't see into the future, we can observe how people are preparing to meet it. Depleted inventories, bloated jobless rolls and rock-bottom interest rates suggest that people are preparing for to meet it from the inside of a bomb shelter."
|Grant's summer break
|"This compilation of recent articles, the first annual Grant's Beachhead issue, is for you."
|Is the medicine worse than the illness?
|"The world ran out of trust in 2008 -- but there is no shortage of money because the Fed is printing like mad. It's the wrong approach, with potentially dire consequences, says James Grant."
|Grant sees 'disastrous inflation'
|A Bloomberg audio podcast of a conversation with James Grant
|James Grant pops Greenspan's bubbles
|"Such proofs of Grant's foresight -- the power of mind over mania -- fill his new anthology, 'Mr. Market Miscalculates,' a bracing tonic as U.S. equities suffer what may prove their worst year since 1931. We've all met Mr. Market. He's the manic-depressive business partner invented by value investor Benjamin Graham. When the sun is shining, he urges you to sell him your share of the business. When night falls, he begs you to buy him out. Price is no object. Grant's omnibus offers a blow-by-blow account of one man's battle with this crank, from dot-com binge to mortgage meltdown."
|The confidence game
|"In the past two weeks, governments in Asia, Europe and the U.S. have effectively nationalized vast swaths of banking. Central banks have ramped up their money printing. In the past week alone, the Fed's balance sheet swelled by $179 billion, to a grand total of $1.77 trillion. In announcing such radical measures, intervening governments never fail to invoke confidence. They say they must restore it. Destroying confidence, however, is what governments do best. And the confidence they can restore is usually the kind that got us where we are today. Inflation and moral hazard led directly to the immense overvaluation of equities and residential real estate -- and of the bloating of the leverage that sustained those prices. Yet, to cure what ails us, credit creation and the public guarantee of banking liabilities are the policies today most favored."
|Why no outrage?
|"Through history, outrageous financial behavior has been met with outrage. But today Wall Street's damaging recklessness has been met with near-silence, from a too-tolerant populace, argues James Grant"
|Value's day once more
|"Is anyone happy? Well, value investors ought to be. To their way of thinking bear markets are heaven-sent. Of all people, the disciples of Benjamin Graham and David L. Dodd understand the investment appeal of everyday low prices. They like it when stocks and bonds go on sale. They are the Wal-Mart shoppers of Wall Street."
|Bet the house
|"By a margin of almost 2-to-1, economists surveyed by WSJ.com last month judged that the worst of the residential real estate slump was history. House prices will soften in 2007, the sages predicted, but by only a little bit. In fact, 20 of the 49 respondents forecast a rise. Ebenezer Scrooge was a mortgage banker, and the arguments I am about to marshal for a hard landing in housing might sound un-Christmaslike. But during the just-pricked bubble, it wasn't the Scrooges and the Marleys who lent more than 100% of the purchase price of a house without bothering to verify the income or employment of the applicant, or even to insist that he or she pay down a little bit of the principal now and then. House prices soared on the wings of the modern, optimistic, growth-obsessed mortgage industry."
|Battling the fog of finance
|"But it isn't the fog of war that has shortened the vision of our monetary policymakers. It's rather the fog of finance, particularly the long legacy of America's greatest stock-market bubble. The truth about the three-year decline in stock prices and the hot-and-cold-running economy is that they have their roots in prosperity, not in war."
|Treasurys crap game
|"U.S. government bonds are great havens for those suffering from equities. Great, that is, unless yields pop back up to 6%. Don't count on a Japan scenario."