J. Grant, the only person in the media worth listening to with regard to the banks, repudiates the gov’t in this clip for being wanton assholes, extorting the banks and for being backward looking. His singular point is the government’s onerous position against the banks is cauterizing them, almost nationalizing them like our European comrades, which in turn is hurting the economy.
Great watch, if you’re a bank nerd.
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You can get his newsletter for the price of a few Exodus memberships. It has pearls of wisdom like in March 2011 when he declared the S&P and other asset classes way overpriced, pumped up by the evil Fed. S&P up 50% since then.
Like the description of him as an “entertaining but irrelevant throwback.” Except more sad than entertaining.
Agree. His newsletter is one of the few, perhaps only, old-school high-dollar subscriptions worth a read.
The banks are de facto socialized institutions. We have the Federal Reserve; however, like Public Utilities and Fannie Mae, Freddie Mac, we want them to have the appearance of being “capitalist” so we allow them to run free until they become a pack of rabid wolves bringing down any prey in their path and leaving the uneaten carcasses to rot.
Why won’t ppl accept that we are a socialist/capitalist nation? It is in fact, the best system in the world until you get your throat ripped open.
At least in this interview, Mr. Grant shows great clarity of thought. Much in contrast to others like Mr. Musk who apparently suggested nuking Mars. JCG