The least self-aware people on earth

A fast-moving exegesis of the June minutes of the Federal Reserve’s rate-setting committee. Plus, the world reconsiders the investment merits of low-yielding sovereign debt denominated in depreciation-prone fiat currencies. 1:38 #Rates so high you can observe them 3:14 #Fed minutes recap 7:14 No such thing as a #wealth effect 10:14 #Inflation is too damn low 14:46 Excess capacity in the #restaurant industry  18:36 constant renewal of radical monetary policy  Subscribe to Grant’s Podcast on iTunes & Stitcher. Grant’s Interest Rate Observer is available at http://www.grantspub.com