Jeremy Grantham has ‘already started to sell’

This is a must-see video that runs 30 minutes. Take the time to watch the whole thing. It is a real coup that CNBC got Grantham on their program.  Overall, Grantham's view is the same as mine. The Fed should get out of trying to use monetary policy to do fiscal policy. It doesn't work; it creates bubbles that are destabilising. The Fed should be moving against bubbles instead of creating them. Fiscal policy is the way to go to deal with a large output gap. Bernanke knows this too. Think o...

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