 - Last login: 7 hours agoSmugllama
- Jason is a 30 year old single guy from Mount Vernon, Washington, USA.
- Likes 1,991 pages, 123 videos, 9 photos • 342 fans • Received 66 reviews
- Member since Mar 03, 2005
Almost all religions peach that love is the supreme virtue... And a few spiritual teachers perceiving that we are all gifted at loving what pleases us, teach that the highest, the most edifying forms, which might ultimately save the world, involve our regard for those it is difficult to love; some of whom are our enemies.
- Steve Allen
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The Big Picture: The Return of M3
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Nov 22, 2006 11:34pm
2 reviews
•http://bigpicture.typepad.com/comment...
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Previously I had noted that the M3 was no longer going to be published... Now we see why this is bad news for us:
"This broadest of money supply measures [M3] had shown a discomforting increase in liquidity, far greater than what M2 was revealing. M3 is growing quite rapidly, with the annual rate of change now over 10%. Prior to the announcement of M3's demise, its growth was in the range of 3 - 7%. Anytime a government agency stops reporting about their goings on, it should raise a few eyebrows. Now we see what happened once the reporting of M3 was killed -- that measure of money supply spiked much higher -- a rate of change that's even greater than 10%+. What makes this particularly egregious is that the broadest measure of Money Supply that is still "officially" reported, M2, and its been flat for 2006. While the Federal Reserve has been reporting rather flat money supply growth in M2, in reality they have been dramatically increasing the cash available for speculation. They have been providing the fuel for the rally, the huge M&A activity, and the explosion in derivatives."
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