Well, ladies and gentlemen, welcome to Grant's interest rate observer of the air.

The podcast is the current yield.

I am Jim Grant.

And with me, as always, is Eric Whitehead at the controls.

And with me frequently, as frequently as Phil Grant, who runs our

almost daily Grant's department. Absent with leave is the great Evan Lorenz deputy editor of Grant's,

he of the melodious voice. Evan was tossing around weights, free weights yesterday. I think he was,

you know, these 250-pound things? Oh, yeah, yeah, I know

those, yeah. And I said, he seemed to have wrenched something. I don't know, I told him to,

he goes to 500 with each hand. I told him to start light and he wouldn't do it. So anyway,

but he'll be back soon, I hope. Ladies and gentlemen, this is the, it's the Valentine's Day podcast. That's right. Yeah. And I am, actually, I'm Jim Granite.

I am wearing a red polka dot bow tie, which seems to summon this office.

It's a little precious I could tell by the way they looked at me.

But you got to dress like you mean it, especially on Valentine's Day.

Yeah, that's right.

Look at these guys.

One of them's wearing washed trousers.

The other one's got light boost socks with the... I'm saving my costume for a week. I think those are Santa Claus. Yeah, they are. Eric White

has wearing Santa Claus socks on Valentine's Day. Oh, there's only 10 months left until

Christmas. Yeah. You don't have to get up washed Eric, just to put them aside from the... So today we're

going to talk about negative interest rates. They don't call them negative for nothing. We talk about books that we are reading. We're going to talk about negative interest rates. They don't call them negative for nothing.

We talk about books that we are reading.

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