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Strategies & Market Trends : Waiting for the big Kahuna
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To: N who wrote (25392)8/27/1998 8:54:00 PM
From: Tommaso  Read Replies (1) of 94695
 
Pretty straightforward if you follow the changes over the last few months. Not long ago M2 and M3 were expanding at around 10%. That was sufficient to allow credit expansion that found its way ultimately into equities. Now M1 is actually contracting and the larger aggregates are way down. Any effort to remove money from the stock markets for other purposes should delfate the overlvalued equities very rapidly.

This is what happened around 1929.

Since I am not preparing a scholarly article for publication in an economic journal I am not providing all the apparatus and cross-references to prove what I say.

So believe it or not, as you please!
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