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Politics : Ask Michael Burke

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To: Skeeter Bug who wrote (75413)	2/8/2000 1:58:00 PM
From: Don Lloyd	Read Replies (1) of 132070

SB - Money Supply related posts - ntrs.com www3.techstocks.com "...Biggs: It still comes back to what Felix was saying. There has been a wealth effect from both stocks and housing, and it all comes back to tremendous expansion in the money supply. M3 has been growing rapidly. It really accelerated in the last three months when it's grown 16% in the U.S. It's grown rapidly around the world. And then there's been all kinds of additional credit creation outside of M3, through the GSEs [government-sponsored enterprises such as Fannie Mae and Freddie Mac], through unregulated lenders, through GE Credit, through GMAC [General Motors Acceptance Corp.]. There has been a huge expansion in credit, and that's got to have been part of what has caused the economic boom and the stock-market boom. ..." www3.techstocks.com "...(4) M3 grew at a 22% annual rate for the eight weeks ended December 20, the highest rate in 15 years (from the latest Business Week)..." Regards, Don

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