From Library Journal
Grant had the good fortune to start a newsletter titled Grant's Interest Rate Observer ten years ago, at the beginning of a historic decline in interest rates that continues through this year. Thus, with the benefit of hindsight, we can read these selected essays containing Grant's erudite views on the unfolding economic climate that included a stock market crash, a national credit crisis, and a rebuilding of the nation's savings and loan industry. This anthology from the author of Money of the Mind ( LJ 5/15/92) may not be essential, but it is as painless as economic literature can be and the selected essays are, as a whole, fascinating. For most libraries.- Joseph Barth, U.S. Military Acad. Lib., West Point, N.Y.
Copyright 1993 Reed Business Information, Inc.
Grant is publisher of Grant's Interest Rate Observer
, an investment newsletter with influence far beyond its relatively small subscription base of 3,000. Rather than offering stock picks, Grant provides economic analysis based on credit market activity and fluctuations in interest rates. Last year his noteworthy Money of the Mind
railed against a century of credit recklessness, tracing "borrowing and lending in America from the Civil War to Michael Milken." Since its inception 10 years ago, Grant's bearish newsletter has often been wrong, but Grant's contrarian views have been much sought on financial panels and news commentaries. Here he reprints more than 80 essays that appeared in the newsletter over the last decade. Grant writes well; these pieces are always incisive and often entertaining. Cartoons by Hank Blaustein will be added to the finished book. David Rouse