Money supply M3 fell this week after rising for a couple weeks. A sustained recovery is not possible without sustained increases in the money supply. Unless Bernanke has a sudden change of heart and starts caring about the economy, look for a long period of sluggish growth. The current low growth won't affect the fourth quarter economy, but it will have effects down the road.
James F OehmkeMy biases are socially liberal and fiscally conservative, but I try to present objective economic analysis and interpretation in my blog. ArchivesJune 2012 Categories |
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