Well, this is Current Yield, Grant's Interest Rate Observer of the Air.

And I am Jim Grant.

Welcome, ladies and gentlemen.

And with me today, as always, Eric Whitehead, who is sitting right here at the control panel,

the great Evelyn-Loran's deputy editor of grants and Phil Grant, who manages, produces,

and edits almost daily grants, which is the

must-read supplement to grants with an even better price. I mean, grants is cheap, but almost daily

grants is like free, right? Yeah. So you can I read that? Oh, yes. We have one sponsor today,

and that sponsor is a book. It happens to be my book, a new book.

It's called Badget, The Life in Times of the Greatest Victorian, which is actually about finance.

You'll be hearing more about that.

Actually, you'll be hearing enough about that to make you wish you'd never heard the first time

as the weeks we're on to publication.

But we're hearing more about the book presently.

But in the meantime, Evan and Phil and Eric, I think that the world needs our attention.

And this podcast, ladies and gentlemen, in case you're impatient for what awaits you, I don't know.

We've got a 99 basis point junk bond in Japan to investigate.

We've got the Federal Reserve saying we need

macro prudential insurance against excess, which also requires a little bit of commentary.

And we have a new issue of a new essay, op-ed pay essays by Andy Puzzder, who is a very successful

fast food executive. Fast Food

Right Evan? Yes. On high interest rates or hobbling growth by high interest rates, he first

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