Jim Grant: Negative Interest Rates Make No Sense
“Negative interest rates say you prefer something in the future instead of the present” explained Jim Grant on Bloomberg yesterday. “It confounds the theory of what we know about human behavior.”
Grant, editor of the eponymous Grant’s Interest Rate Observer, debated the latest central bank experiment with Jefferies Chief Market Strategist David Zervos. Grant made the warnings about “NIRP” you’ll seldom hear espoused by any mainstream publication or TV outlet. Take the time to watch. His comments are particularly relevant given the articles David Stockman, Bill Bonner and I wrote today on our homepage.
Click the play button below to watch Grant’s interview:
All the best,