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Strategies & Market Trends : The coming US dollar crisis
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To: dybdahl who wrote (13693)10/29/2008 6:51:06 AM
From: critical_mass  Read Replies (4) of 71456
 
Growth in M3 has been up over 10% since 2006 according to this from the ECB.

sdw.ecb.europa.eu

I went to the ECB site around 18 months ago after seeing a chart in the back of The Economist showing that the UK and Eurozone were growing their money supply almost as fast as the US for certain time periods. I was surprised.

Of all the Germans I know that discuss markets and macroeconomics, I know of none who recognize the name "Rudolf Havenstein" or would be able to name the head the Reichsbank when hyperinflation took hold. Few Germans know why Germany had a few years of relative prosperity during the late 1920s.

When the Euro was introduced, it was nicknamed the "Teuro" and most of the population agrees that things became more expensive. There were small protests and a lot of griping especially when a half liter of beer went from being 4 DM to 3 Euro almost overnight (conversion was roughly 2DM / Euro), but certainly no revolution. Official studies convinced the people that the sudden increase in prices was a product of their collective imagination.

The German government seems to distort unpleasant statistics just like any other government, but in contrast to the US, I see very little skepticism and mistrust of the government.
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