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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: basho who wrote (49386)1/10/2006 8:57:56 PM
From: mishedlo  Read Replies (1) of 110194
 
Still, I think his constant focus on what he calls the pool of funding is a valuable reminder that underlying the extravagant financial pyramid lies a real and immutable world.

Exactly, and I will go one further.
However flawed his definition of money is, it has more predictive value than M1, M2, M3, or MZM.

In fact, the latter are almost useless especially at the turns.
Mish
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