Well, this is current yield grants interest rate observer of the air.

I am Jim Grant.

With me, as always, is Henry French, who runs the engineering department here at the

Current Yield podcast and the great deputy editor of grants, Evan Lorenz, and a new voice today,

someone who is not 77 years old, not, what do you have in?

42.

Oh, for you see.

James Robertson, June.

Say hello, James.

Hi, everybody.

Yeah.

James's voice has changed, not recently.

It was past eight or nine years, right?

Yes.

Anyway, James is the first vice president in charge of, among other things, certain complex debt structures, which we will go into a little more detail presently, speaking

with John Kirchner, who is an authority on that topic, and he works

with Janice out in Denver. But Evan, so you've heard the phrase political economy?

Yeah, it rings a bell. Have you ever heard it in the context of equity valuations?

Not so much.

But how do you otherwise explain the levitation of the shares in a security with Tickering, I think, Jay?

DJT, I think it was?

Yeah, it's shooting up like it's a cryptocurrency.

...