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Politics : Ask Michael Burke

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To: Tommaso who wrote (37749)	11/29/1998 1:51:00 PM
From: accountclosed	Read Replies (1) of 132070

Tomasso. I don't know where Joseph G. was coming from and would never presume to take up for him. But the title of Jim Grant's book "Money of the Mind" seems to fit here. By the title Grant actually meant credit rather than stock values. His argument was that people feel more flush and that they act differently when plenty of credit is floating around. I feel that inflated asset values similarly make people feel richer. While neither available credit nor inflated stock values are factored into the "M's", don't you feel they have impact? I think that this perhaps is where the statistic shows its limitation.

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