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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 222.02-0.2%12:59 PM EST

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To: dbblg who wrote (87106)12/11/1999 5:20:00 PM
From: Eric Wells  Read Replies (1) of 164684
 
The reserves added for Y2K are an exaggerated version of the same thing.

Ganesh - thanks for your post. There's no disputing that the Fed regular infuses money into M3. However, per the Reuters article, infusions by the Fed over the past 3 months have been greater than at any point in history. And per the Excite article, the Fed has increased M3 by 15% this year, as opposed to a yearly average of 15%. I believe this will have some economic impact.

I agree that there are many reasons for the narrow run-up in stocks we've seen since November - but I do believe there is a possibility that the increase in M3 has contributed to it.

Thanks,
-Eric
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