Welcome to Current Neal Grant's Interest Rate Observer of the Air.

I am Jim Grant.

With me today is Eric Whitehead.

And the control panel, Eric, is his setup shop, has set his control panel up in a highway

rest stop within 30 minutes of Schohenari, New York.

This is a long story that I think I will not trouble you with too much.

It's actually kind of tedious.

But Eric is on the job, but he's remote, as we say now,

we're like, he's virtual.

And we have the great deputy editor of Grants is always Evan Lorenz.

And today we have one of the two co-founders

of the economic cycle research institute. His name is Lachman Akuthan. Now the last name has many

syllables, but your numonic is accuracy. So Lachman along with his fellow co-founder, Anurvan Benerjee, are in the business of

reading the tea leaves of business cycles, and they are as students, indeed, disciples

of Jeffrey H. Moore, the great business cycle observer and theorist of yesteryear, and I think

they set up shop in 1990, maybe. Did you not? You met to Jeffrey in 1990, I think.

Met him in 1990, which is great in the cycle history because there was a recession there,

a 9091 recession. That was a good one. That was great. But Lachman, before we get into

the business of cycles, I want to make an announcement.

So we have today here in Schoherry, New York, which is a farming community upstate,

between Albany and Cooperstown.

We have an Indian summer day.

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