I have to admit, I had never read Jim Grant or made a mental note of him if I had. Thanks for posting it, right or wrong, I really like his writing style. Authors of that quality are rare in such dry subjects, the blend of history, historical references, philosiphy of balance, the guy writes like a Taoist, I loved it. Thanks davelj
The problem is the topic, by writing an opinion somewhat against the grain, many readers will ignore the style because they disagree with the content. I did like the overiding theme, that value sells and pendulums swing but skies don’t fall.
The whole thing reminded me of a poem/story about overeacting to every incident in a vacuum, that events are not always what they appear to be, that there is opportunity in bad fortune and risk in good fortune.
Like Econprof, I find it hard to disagree with him, it’s a a cogent argument, albeit a big picture view. I do think, that regardless of the size or speed of the recovery, if it even arrives at all, we as a people will be slightly different, slightly more frugal, having experienced the depression of our generation. I’m not so sure that’s a bad thing.
