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To: AllansAlias who wrote (7641)	7/31/2000 10:52:45 PM
From: pater tenebrarum	Respond to of 436258

growth in the broader measures, while not as dramatically, also slowed down quite a bit in June. i think my post was a reply to a query about the three-month moving averages of the growth rate of the various money supply measures published by the Fed and how to interpret them. the latest data implied a sudden contraction in the growth rates must have taken place in June, quite frankly a surprising development. there is some incongruence as the various measures growth rates seem to be decelerating at a different pace, but i haven't really taken the time to look into all the details. my deduction that consumer credit may be slowing down was drawn from the details of the Q2 GDP report. it appears that mostly the continuing capital spending boom as well as inventory build-up were responsible for the strong GDP number, while the consumer seems indeed to slow down. consumed himself silly enough i suppose. of course i also infer that the continuing capital spending boom is already far advanced in the direction of malinvestment due to the misguided policies of the Fed. M2 slowed down most dramatically...as for the composition of M2 and further info on the various M's i would recommend the St. Louis Fed web site, briefing.com (has a great section on FOMC operations somewhere) and of course Mr. Moto's weekly report. good night...