Grant sez..

[John K. Taber]

Gary Bramstedt wrote:
> 
> >Sometime in early 1997, I think, Jim Grant, editor of Grant's Interest Rate
> >Observer, tired of being labeled as the permabear he was, and resolved to
> >include at least one bullish recommendation in each issue of his
> >newsletter. What did he recommend? Asian and Russian stocks. After Asia
> >cracked, he confessed that his recommendations actually did worse than the
> >averages. Just got the latest issue of Grant's, and he's high on gold now.
> >
> >Deflation anyone?
> >
> >Doug
> >
> >
> >Hello Doug Henwood:
> 
> (Oh, nooooo.... I just moved into a gold fund...)
[snip]

Well, I guess I'll ask again. Won't somebody take pity on an
ignoramus, and explain to me what deflation is and why everybody is
worried about it?