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To: Activatecard who wrote (31500)5/5/2000 4:08:00 PM
From: pater tenebrarum  Read Replies (2) | Respond to of 42523
 
i am using only the Fed's official published data. i just heard this guy on CNBC say that commercial bank credit is slowing down. nothing could be further from the truth! it is EXPLODING to be precise:

stls.frb.org

also i frequently hear allusions to the monetary base...that's completely useless information in terms of the overall money supply growth, as it only relates to vault cash and currency in circulation. all the Fed has done is remove the excess vault cash that they thought might be withdrawn ahead of y2k. otherwise they are priming the pump like NEVER BEFORE!

so don't let the talking heads on CNBS tell you otherwise. that's just propaganda spin, nothing else.



To: Activatecard who wrote (31500)5/5/2000 4:20:00 PM
From: Thomas M.  Read Replies (1) | Respond to of 42523
 
If you are referring to Steven Nagourney, who was just talking about liquidity being removed, the key is that he kept referring to bank credit. As Doug Noland has been saying, this is a convenient way to completely miss the boat, because credit outside the banking sector is the major force in today's markets.

Tom


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