From: Rakesh Bhandari (rakeshb@STANFORD.EDU)
Date: Tue Aug 03 2004 - 13:53:34 EDT
From a while back: At 2:46 PM -0400 6/23/04, Allin Cottrell wrote (referring to the wizard Greenspan): > >He has held interest rates quite low, but the degree of monetization >of the federal deficit has been fairly modest: > >Year Federal Deficit ($b) Increase in M1 ($b) >2002 240.0 37.8 >2003 414.5 78.0 > >Allin. What about the increase in M3? The Broad Measure of Money: M3 (In Billions of Dollars) Ja Jan 2000 6595 Jan 2001 7223 Jan 2002 8046 Jan 2003 8546 Jan 2004 8892 Jun 2004 9293 from http://www.prudentbear.com/archive_comm_article.asp?category=Guest+Commentary&content_idx=34679
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