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Politics : Ask Michael Burke

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To: Mike M2 who wrote (35699)	11/10/1998 10:14:00 AM
From: Tommaso	Read Replies (1) of 132070

In a table on the last page of the October issue of "Monetary Trends," it shows a 1.11% gain for the MZM measure of money supply for the most recent month. This annualizes to about 14% (compounded monthly)--but this figure is very short-term and wildly variable from month to month. But on the whole money growth is at least equal to what enabled the inflation rates of the early 1970s, and much of it seems to be going right into the equity bubble and low-equity mortgages(as well as into millions of sports-utility vehicles, upscale California wines at $65 a bottle, new stadiums, new malls, vehicle leasing, and so on).

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