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 ...
By the time America FEELS this pain gas will be at 4 bucks and climbing and Obama and his cronies will be loading up their private bank accounts.
Maybe my lack of interest in spending is reducing velocity (Finally!).
How’s being at zer0 wrong?
Propitiatory estimates. In other words take it with a grain of salt.
Exactly, they’ve been hiding the decline for years...
"So, it’s been 15 months since the passage of the big stimulus bill, which has since been increased by $75 billion to a total of $862 billion and which, to hear Democrats tell it, has been a great big success. Yet, we’re still talking about “emergency” deficit spending in a single bill that nearly equals the entire federal deficit for 2007. With that kind of success, it’s no wonder they didn’t want to call this one another “stimulus.”
I’m thinking that with a few million $$$$ from zer0’s stash, I could much more easily go completely Galt and buy the whole darn Gulch.
LOL, Dude, you are ON to it.
Yep, it’s “funny money” alright...
Now THAT says IT ALL!!!
Never doubted you
I’ve mentioned missing George Washington a number of times here on FR and elsewhere.
Amazing. These guys are the best Con-Men in history or...The American population is the stupidest in history.
Im sure in the fine print of the new stimulus bill is further funding for endangered rats and ACORN.
It seems to me that fiscal stimulus in the face of a collapsing money supply should be the poster child for pushing a rope uphill. The more the feds borrow to pour into the economy, the more is absorbed by the banking system to shore up its reserves.
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