Diggings

A blog by Toby Dayton

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Archive for May, 2009

Jim Grant Sees Dark Inflation Clouds Ahead

I had the great pleasure of hearing Jim Grant of Grant’s Interest Rate Observer speak at a conference last week. In his incredibly entertaining, enlightening, and frightening remarks, he noted that in the previous 10 post-war recessions, the peak-to-trough decline in GDP averaged 1.7%. The average stimulus response during those 10 recessions averaged 2.9% of [...]