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To: Mark Fowler who wrote (5979)4/1/2001 9:46:27 PM
From: 16yearcycle  Read Replies (2) | Respond to of 57684
 
I liked your recent posts on the "other" thread. I want to restate my strong opinion though that most of the folks are looking at the wrong monetary measure...M2 is not a good indicator of what the fed's intent is: the adjusted monetary base is and I have confirmation of that opinion from Larry Kudlow and Ed Hyman. So when you say or think we are getting a big pump job now, please look at this:

stls.frb.org

Since fall we are getting some help but the big help was in January...and you know what our market did. Since Jan. growth in the base is anemic and we have gotten hit in the market again.

I am very bullish in here,short and long term, so don't misunderstand me. But, I would be insanely bullish if the fed was pumping harder..I don't think they are. And i think looking at M2 is a mistake.