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To: Activatecard who wrote (6599)	7/27/2000 8:46:58 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 436258

yes, i can explain. since the Fed releases 3-month, 6-month and 12-month averages of the money supply growth data beginning with consecutive months, on can conclude from the very latest release, which saw a steep fall in the 3-month average growth of M2 for the period Mar 2000 - June 2000 compared to the immediately preceding Feb - May 2000 growth rate, that a sharp contraction in M2 growth rates must have occurred fairly recently. this in turn leads to the conclusion that the stock market's oxygen supply is being taken away. or rather helium supply... it also means that credit expansion seems to have hit a brick wall all of a sudden...very ominous for the bubble.