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To: patron_anejo_por_favor who wrote (60138)	1/20/2001 7:18:54 PM
From: jj_	Respond to of 436258

<Of course, money in circulation doesn't mean a hell of a lot in this era of home equity loans, credit card debt, mortgage refinancings, et. al. MZM is the broadest available measure of money and the most meaningful IMO. Even so, a 2.2 trillion dollar hit DOES represent a substantial loss of wealth (it would be approximately 2.2/4.7, or 47% of MZM that was lost), by any possible metric...> if it equates to 47% of the MZM but the MZM has actually increases 10% from the Dunqs peak I would wager sideline money has compounded. But I have no idea what I'm talking about.-gg stls.frb.org