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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: CalculatedRisk who wrote (27805)4/18/2005 7:52:32 PM
From: Elroy Jetson  Read Replies (1) of 116555
 
That's all very "correct" from a Monetarist perspective which is based on the false belief that wealth is created when new money is issued and or new credit is extended - both of which Monetarists mistakenly call money.

In reality the Fed is "accommodative" when money is created, or when credit is extended in excess of savings.
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