Wall Street guru Grant’s 4 out of 9 warnings:

"Could you imagine having a publication called 'Interest Rate Watch' with no interest rates to watch other than a paltry rate below zero?" (Grant was referring to the Federal Reserve's move to raise interest rates last spring. previous long period of low interest rates).

"Inflation is a permanent thing. There is no way to regain the purchasing power lost through inflation."

“We have experienced a decade of secular growth in money. It has prompted an excessive pursuit of yield and magical thinking, the accumulation of leverage and the breeding of unicorns, and an increase in federal debt. All in the service of rising asset prices, creating a catastrophe for those whose business is buying and selling. It was a fun time for people living in the country. But it also created deep vulnerabilities in the country's financial structure."

“The product of artificial low interest rates is artificial balance sheets. The product of artificial balance sheets is new macroeconomic vulnerabilities. If this vulnerability does not manifest itself at some point, it could lead to unintended consequences of extraordinary depth and severity. That would be weird."