Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Ilaine who wrote (13974)	1/28/2002 5:50:39 AM
From: smolejv@gmx.net	Read Replies (1) of 74559

CB - I was off waves for the weekend, but hope to keep the subject going. My question was >>if Fed wanted to,could it put out the M3 brushfire<< economagic.com This stuff is an elegant, no-bars-attached exponential curve with cca 15% y-2-y rate (Mq, one fact to think of when composing the next Hobbitland bedtime story). The first time I saw it in Noland's articles. And I kept seeing it again and again. So much for a stopped clock, CB (have to rub it in, otherwise there's no subcutanenous effect). This M3 pool is the feeding ground for everything that GSEs (among others) bring out to the market as solid, full-proof, nearly-as-good-as-backed-by-government investment vehicles. And, if I understand you right, this is nothing that FED would have, need (or want) to control. Checking question: Where does the credit deluge - mortgages for new houses with no downpayment, credit cards for kids playing in the little league (credit limit 25k$), etc - come from? You guessed right. dj

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