Skip to comments.U.S. money supply plunges at 1930s pace as Obama eyes fresh stimulus
Posted on 05/27/2010 11:21:12 AM PDT by Dubya-M-DeesWent2SyriaStupid!
The M3 money supply in the United States is contracting at an accelerating rate that now matches the average decline seen from 1929 to 1933, despite near zero interest rates and the biggest fiscal blitz in history.
By Ambrose Evans-Pritchard Published: 9:40PM BST 26 May 2010
Reverse side of a US twenty dollar bill matched up with the north side of the White House in Washington, DC The stock of money in the US fell from $14.2 trillion to $13.9 trillion in the three months to April, amounting to an annual rate of contraction of 9.6pc Photo: AFP
The M3 figures - which include broad range of bank accounts and are tracked by British and European monetarists for warning signals about the direction of the US economy a year or so in advance - began shrinking last summer. The pace has since quickened.
(Excerpt) Read more at telegraph.co.uk ...
He is insane! FUBO!
Where is it going?
Yeah, but money in the 30’s was backed with silver. Now we have magic happy-money, so no more worries.
DEPRESSION... believe me yet?
To Obama’s slush funds and fake glabal warming crap.
AKA the dems Bahama homes and Gore;s new lear jets.
Our media ONCE again FAILS at reporting this...
The Fed doesn’t publish the M3 number anymore. Everyone estimates it slightly differently. Another source I read says the M3 is staying steady.
The good news is he’s committing political suicide. The bad news is he’s destroying America in the process.
Where are these M3 numbers coming from?
I thought the Feds stopped tracking M3 years ago.
It does not take a rocket scientist to see that we must plunge into a deep depression in order for Obama to get
he and Soros’ dream of globalization=global communism.
Global warming failed to be the culprit because they got busted with the fraud that it is. So we must all suffer.
Would someone please explain to me where this thinking came from that we can spend our way out of debt?
Who in their right mind would think that would work? I mean are these people completely stupid?
>> are these people completely stupid? <<
No, they are not stupid. Thay know EXACTLY what they are doing. That’s what scares the crap out of me.
The bad news is our system is going to collapse and we are printing money out of thin air.
The good news is everyone else is even worse and are scrambling to buy our dollars.
Whats in this bill? Aside from about $55 billion in unemployment benefit extensions, the bill includes:
* $65 billion in Medicare physician payments the so-called doc fix that Democrats left out of ObamaCare so that it could be officially scored as a deficit-reducing act rather than a deficit-ballooning one;
* $24 billion in Medicaid funding for states so that they can keep up with the unfunded mandates they already faced, much less the additional ones that will flow from ObamaCare;
* $1 billion for summer jobs for 16- to 24-year-olds, which effectively is an admission from the feds that the market couldnt support the minimum wage increases forced upon employers starting in 2007 (the unemployment rate for this age group has hit 25 percent);
* corporate subsidies for recipients including, according to The Wall Street Journal, municipal bond traders, cotton farmers, yarn producers, sheep growers, Hawaiian sugar cane cooperatives, motor sports businesses, renewable energy firms, the steel lobby, and so on.
The money is sitting in bank vaults(computer Hard drives). Nobody wants it, even at 4.5%/30 yrs. Remember the song "I'm turning Japanese, I think I'm turning Japenese I reaaly think so!"
Yeah! That's the real problem.
Add that China OWNS us and NKorea and China are joining at the hip with a weeny seated U.S. President and a failure of a SOS Clinton.
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