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To: John Pitera who wrote (43)12/15/2000 1:29:38 PM
From: Jorj X Mckie  Read Replies (1) | Respond to of 111
 
I do hope that Bush pays attention. One thing that I agree with that Clinton said was "It's the economy, stupid". So very true.

Did you see the charts that arno posted yesterday about M1, M2 and M3 levels? Starting in 1992, the M1 money supply went up in a parabolic slope, but it has pulled back some in the past couple years. M2 and M3 haven't pulled back at all. I really don't understand the specific roles of M1-3, but it is pretty obvious that what fueled the mania isn't so much the "greater fool" or J6P investing, but that we had the increased money supply. Do you have an opinion on this?