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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: russwinter who wrote (13419)	5/7/2004 5:46:34 PM
From: orkrious	Read Replies (1) of 110194

from richard russell's web site tonight: Richard, You mention in today’s post that the M3 was up $45.4B. This is the “seasonally adjusted” number. The real (non adjusted) M3 was DOWN by $44.0B. Hmmm…quite the adjustment. Oh well, what’s $90B or so among friends? Bart

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