Today’s guest is Jim Grant, founder and editor of Grant’s Interest Rate Observer, which he’s been publishing since 1983. He’s a financial historian and one of the most well-respected Observers on Wall Street. In today’s episode, Jim Grant explains why AI may be one of the greatest bubbles of all time, alongside the railroads and the dot-com era. He reframes deflation as progress, questions how murky the $2 trillion private credit market is, and explains why the Fed can’t aggressively fight inflation. To close, Jim makes his case for gold and revisits 1984, which he calls the clearest example of how strange markets can be. To see links or read the transcript of the episode, visit us at: https://www.themebfabershow.com/episodes/haGVqVYydPV (0:00) Starts (0:39) Jim Grant on AI mania (12:23) The economic implications of inflation & deflation (19:56) Interest rates and private credit concerns (27:13) The Fed's inflation target (41:10) How to fix the Federal Reserve (45:09) The history and role of gold in portfolios (54:34) Jim's most memorable investment (57:28) Historical periods to study Pre-order Investing in America: The Rise Of A 250-Year Bull Market https://amzn.to/4dNRKOt ---- Listen and subscribe on the platform of your choice: Apple: https://podcasts.apple.com/us/podcast/the-meb-faber-show/id1128955736 Spotify: https://open.spotify.com/show/6gEEIpE2eu1yndaFra4Cgb Follow Meb: X: https://x.com/MebFaber LinkedIn: https://www.linkedin.com/in/mebanefaber/ Website: http://mebfaber.com/ To learn more about our products and follow us, subscribe to our mailing list: https://theideafarm.us1.list-manage.com/subscribe/post?u=6750faf5c6091bc898da154ff&id=7249739cdb Follow The Idea Farm: Subscribe (FREE!): www.theideafarm.com X: https://x.com/TheIdeaFarm LinkedIn: https://www.linkedin.com/company/theideafarm-co TikTok: https://www.tiktok.com/@mebfabershow Instagram: https://www.instagram.com/mebfabershow/reels/ Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).