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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: orkrious who wrote (1435)10/12/2003 12:52:46 PM
From: austrieconomist  Read Replies (1) of 110194
 
Follow up. You don't really believe, do you, that people decided in, January, 2002 (which coincided with the last of 11 straight interest rate cuts by the direct action of the Fed and the "coincidence" of MZM growth of 20% for 15 consecutive months [not a precise overlap - MZM growth began three months prior to the rate cuts]) to save a little and/or spend less and that is what caused MZM to suddenly decline to an 8% growth rate the next 14 months and then people suddenly decided to save a little less and spend more the next 4 months which caused the MZM growth rate to suddenly rise to a 16% MZM growth rate, and then people suddenly decided to save a little more and spend less the last 6 months, causing the MZM growth rate to drop to less than 8%? I don't think that consumer and business credit expansion and consumer spending statistics corroborate that point of view as the probable best explanation of the primary contributing component of the MZM statistic.
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