Bellesouth sent me an email mentioning Jim Grant appeared on 60 minutes Sunday night. I’ve mentioned Jim Grant several times of late since he has been out front of this financial crisis for quite a long time.
Jim knew what the implosion of our financial system would mean and steered his subscribers to safer ground including short positions in certain financial services indices. As you can see from the story transcript he doesn’t mince words. Here are some highlights:
It started out 16 months ago as a mortgage crisis, and then slowly evolved into a credit crisis. Now it’s something entirely different and much more serious.
What kind of crisis it is today?
“This is a full-blown financial storm and one that comes around perhaps once every 50 or 100 years. This is the real thing,” says Jim Grant, the editor of “Grant’s Interest Rate Observer.” Continue reading “Jim Grant on the Financial Crisis: A Full Blown Financial Storm”