Jim Grant Interviewed on Nightly Business Report

This week's "Market Monitor" guest on the Nightly Business Report on PBS was Jim Grant of Grant's Interest Rate Observer. You can read the transcript.

Host Paul Kangas asked Grant how the consumer is doing:

GRANT: The consumer is hard-pressed, Paul. He and she have been about the worst short sale in the history of finance. American consumers have spent through thick and through thin, especially it seems thin. These days they are very over extended and I expect them to do much less spending and much more savings.

Then he was asked if he thought stocks were attractively valued:

GRANT: No. I think the stock -- well, I think the stock market, you know, broadly and generally is still not cheap. The S&P 500 according to Bloomberg is trading, if you please, at 21 times still in this mess of ours. But you know, as the man said it is a market of stocks. And one ought to be on the lookout always for compelling values.

Read the entire linked interview for a review of Grant's picks when he appeared on the show last year, plus Grant's selections this time around