Grantham: whipping the donkey
The latest Jeremy Gratham interview, with Charlie Rose. In this 50-min video interview, Jeremy talks about China and world’s energy price; his interesting experience with asset bubbles in the past (a frequent topic, but still refreshing), and his forecast of the US economic growth and stock market.
My favorite part is he analogized Fed’s monetary policy as whipping a donkey, trying to make the economy run faster like a race horse. Quite accurate.