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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: philv who wrote (36313)7/19/2005 12:50:12 PM
From: Tommaso  Read Replies (3) of 110194
 
>>>the money supply must increase and keep up to the GDP, or else new investments would be chocked off<<<

Actually the money supply decreased on the whole under the gold standard in the U.S. 1865-1900, a period of, mostly, increasing prosperity, interrupted by depressions.

I don't understand the money supply figures for the last two years. They seem quite disciplined, yet the expansion of credit via mortgages and refinancing mortgages has been huge.
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