James Grant | |
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 Grant in 2014 | |
| Born | July 26, 1946 |
| Alma mater | |
| Occupation(s) | Writer, publisher |
| Spouse | Patricia Kavanagh |
James "Jim" Grant (born 26 July 1946) [1] is an American writer and publisher. He founded Grant's Interest Rate Observer, a twice-monthly journal of the financial markets published since 1983. He has also written several books on finance and history.
Grant served as a Navy Gunner's mate, graduated from Indiana University, and received a master's degree in International relations from Columbia University. [2]
He is married to Patricia Kavanagh, M.D., a neurologist, and lives in Brooklyn Heights, Brooklyn. They have four children. [3]
He began his journalistic career at the Baltimore Sun in 1972 and joined the staff of Barron's in 1975. He founded Grant's in 1983. [2] Success was slow. "A critic complained that Money of the Mind, my ... history of American finance, was like an account of the interstate highway system written from the point of view of the accidents", Grant wrote in Minding Mr. Market (1993). "The same might be said, both fairly and unfairly, of Grant's. Where most observers of the 1980s emphasized the rewards, we dwelled mainly on the risks. In the junk bond, in the reckless patterns of bank lending, in the dementia of Japanese finance, in the riot of the Treasury's borrowing, we saw not the bull markets of today but the comeuppance of tomorrow." [4]
However, the publication's signature skepticism served it, and its readers, better in the 2000s. Mr. Market Miscalculates (2008), a collection of Grant's articles published over the preceding 10 years, elicited an appreciative review in the Financial Times . John Authers wrote of the staff of the FT: "If Grant could see what was happening this clearly ... and warn of it in a well-circulated publication, how did the world's financial regulators fail to avert the crisis before it became deadly, and how did the rest of us continue to make the irrational investing decisions that make Mr. Market behave the way he does?" [5]
Grant received the 2015 Gerald Loeb Lifetime Achievement Award for excellence in business journalism. [6]
Grant is the author of Money of the Mind (1992), The Trouble with Prosperity (1996), John Adams: Party of One (2005), Mr. Speaker: The Life and Times of Thomas B. Reed, the Man Who Broke the Filibuster (2011), and The Forgotten Depression (2014) among other works.
His most recent publication is Bagehot: The Life and Times of the Greatest Victorian (2019), a biography of Walter Bagehot, the influential English banker, economic and political writer, and editor of the Economist, whose ideas about central banking informed the U.S. Federal Reserve's response to the global financial crisis of 2007–2009.
During Representative Ron Paul's 2012 U.S. presidential campaign, he named Grant as his likely candidate for Chairman of the Federal Reserve to replace Ben Bernanke whose term expired in 2014. [7]
Thomas Brackett Reed Jr. was an American attorney, author, parliamentarian and Republican Party politician from Maine who served as the 32nd Speaker of the United States House of Representatives from 1889 to 1891 and 1895 to 1899. He represented Maine's 1st congressional district in the House from 1877 to 1899 and, prior to his time in Congress, represented Portland in the Maine legislature and served as Attorney General of Maine. In 1876, he was elected to represent Cumberland and York counties in the U.S. House and was re-elected for twelve consecutive terms.
Walter Bagehot was an English journalist, businessman, and essayist, who wrote extensively about government, economics, literature and race. He is known for co-founding the National Review in 1855, and for his works The English Constitution and Lombard Street: A Description of the Money Market (1873).
The Black Friday is the term for a gold panic on September 24, 1869, which triggered a financial crisis in the United States. It was the result of a conspiracy between two investors, Jay Gould, later joined by his partner James Fisk, and Abel Corbin, a small time speculator who had married Virginia (Jennie) Grant, the younger sister of President Ulysses S. Grant. They formed the Gold Ring to corner the gold market and force up the price of the metal on the New York Gold Exchange. The scandal took place during the Grant Presidency. The Secretary of the Treasury, George S. Boutwell, had a policy to sell Treasury gold at biweekly intervals for a sinking fund to pay off the national debt. Along with other, non-routine gold sales, this acted to stabilize the dollar and boost the economy. The country had gone through tremendous upheaval during the Civil War and was not yet fully restored.
Arthur Betz Laffer is an American economist and author who first gained prominence during the Reagan administration as a member of Reagan's Economic Policy Advisory Board (1981–1989). Laffer is best known for the Laffer curve, an illustration of the theory that there exists some tax rate between 0% and 100% that will result in maximum tax revenue for government. In certain circumstances, this would allow governments to cut taxes, and simultaneously increase revenue and economic growth.
A hardcover, hard cover, or hardback book is one bound with rigid protective covers. It has a flexible, sewn spine which allows the book to lie flat on a surface when opened. Modern hardcovers may have the pages glued onto the spine in much the same way as paperbacks. Following the ISBN sequence numbers, books of this type may be identified by the abbreviation Hbk.
Desolation Island is the fifth historical novel in the Aubrey-Maturin series by Patrick O'Brian. It was first published in 1978.
In public finance, a lender of last resort (LOLR) is the institution in a financial system that acts as the provider of liquidity to a financial institution which finds itself unable to obtain sufficient liquidity in the interbank lending market when other facilities or such sources have been exhausted. It is, in effect, a government guarantee to provide liquidity to financial institutions. Since the beginning of the 20th century, most central banks have been providers of lender of last resort facilities, and their functions usually also include ensuring liquidity in the financial market in general.
Publishers Weekly (PW) is an American weekly trade news magazine targeted at publishers, librarians, booksellers, and literary agents. Published continuously since 1872, it has carried the tagline, "The International News Magazine of Book Publishing and Bookselling". With 51 issues a year, the emphasis today is on book reviews.
John Henry Lanchester is a British journalist and novelist.
The parliamentarian of the United States House of Representatives manages, supervises, and administers the Office of the Parliamentarian, which is responsible for advising the House's presiding officers, members, and staff on procedural questions under the U.S. Constitution and House rules and precedents, as well as for preparing, compiling, and publishing the precedents of the House.
Sir John Anderson Kay, is a British economist. He was the first dean of Oxford’s Said Business School and has held chairs at the London School of Economics, the University of Oxford, and London Business School. He has been a fellow of St John's College, Oxford, since 1970.
Andrew Miller is a British journalist and author, best known for his debut novel, Snowdrops, published under the name A.D. Miller. He studied literature at Cambridge and Princeton and worked in television before joining The Economist magazine as a reporter in 2000.
George Soros is a Hungarian-American billionaire hedge fund manager and philanthropist. As of October 2023, he had a net worth of US$6.7 billion, having donated more than $32 billion to the Open Society Foundations, of which $15 billion has already been distributed, representing 64% of his original fortune. Forbes called Soros the "most generous giver". He is a resident of New York.
Richard Templar was the pen name of British author and editor Richard Craze (1950–2006) who wrote several self-development books. He shares his "path to success" in a series of books, in which 100 simple "Rules" are presented to achieve success: be it in business management, wealth, financial prudence, work-life balance, parenting, love, or living a simple yet meaningful life in general. Rules are typically presented on two pages, making the books easy to read, and suitable for dipping into at random.
Nick Kochan is a financial and political journalist based in London. He has written extensively on financial and white collar crime. He writes for UK newspapers and international magazines, and has written and co-written books. Kochan is also a lecturer and conference speaker on financial crime and politics.
The Arlington Hotel was a hotel in Washington, D.C.. It was built in 1868 and was considered the most opulent hotel in Washington, D.C. during the post-Civil War era, described as a "distinctive but low-keyed example of the Second Empire style."
The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too is a book by economist James K. Galbraith, first published in 2008. The title refers to how in US society, as Galbraith sees it, public institutions have been subverted to serve private profit: the "predators" being corporate elites. He argues that these corporate interests run the state "not for any ideological project—but simply in a way that would bring to them, individually and as a group, the most money.”
The expression "everything bubble" refers to the correlated impact of monetary easing by the Federal Reserve on asset prices in most asset classes, namely equities, housing, bonds, many commodities, and even exotic assets such as cryptocurrencies and SPACs. The policy itself and the techniques of direct and indirect methods of quantitative easing used to execute it are sometimes referred to as the Fed put. Modern monetary theory advocates the use of such tools, even in non-crisis periods, to create economic growth through asset price inflation. The term "everything bubble" first came in use during the chair of Janet Yellen, but it is most associated with the subsequent chair of Jerome Powell, and the 2020–2021 period of the coronavirus pandemic.
John Authers, is a British financial journalist and finance author, who spent almost three decades reporting at the Financial Times, before moving to Bloomberg in 2018.
James Donald Tracy is an American historian. With Heiko A. Oberman, he was co-founder of the Journal of Early Modern History, and editor from 1999 through 2010. He has served as president of the Sixteenth Century Society and Conference, the Society for Reformation Research, and the American Catholic Historical Association. At the University of Minnesota, he was associate dean of the College of Liberal Arts, chaired the Department of History, and held the Union Pacific Chair in Early Modern History from 2001 to 2004. Upon his retirement, Tracy was granted emeritus status. Among early modernists he is known for his contributions to an unusual range of research areas.
He's an Austrian economist, he has experience on Wall Street, he's brilliant, he's a good historian, he would quit printing money.
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