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Politics : Ask Michael Burke
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To: Mike M2 who wrote (76999)3/5/2000 6:19:00 PM
From: Tommaso  Read Replies (2) of 132070
 
I got the following e-mail in reply to a request form an explanation of the Austrian School Money Supply (AMS):

The information can be obtained from the ST louis Fed and the FED H6 weekly
release. The AMS differs from the official definitions of money because it
doesn't include various credit transactions.

Thanks for the e-mail

Frank Shostak

I guess this means that the graph at the bottom of this page:

mises.org

is based on recalculations of the Fed's figures for M1 or MZM, taking out travelers checks and adding in government deposit balances, but since I do not have the time or energy to investigate this any further, it would be a matter of faith for me to make any judgments using the AMS.

To me, the Fed's own figures seem to make inflation inevitable, or else monetarism is pure bunk. And the only way the Fed reacts to inflation is to raise interest rates. And that means an inverted yield curve. And that means . . .

I once heard a physicist call economics "a firm grasp of the obvious"--and I guess that's my problem.
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