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To: Perspective who wrote (32020)	2/22/2002 4:09:04 PM
From: AllansAlias	Respond to of 209892

I agree. This is everything. The most salient feature of this stage of the post-mania is the credit bubble. It is everything and it needs to be fed. Keep us posted bobcor.

To: Perspective who wrote (32020)	2/22/2002 4:28:20 PM
From: AllansAlias	Read Replies (2) \| Respond to of 209892

Rate of change measurement on the M3 data shows that it is indeed slowing. On the monthly numbers, I used 6per for my ROC indicator overlay. The last threatening drop in M3 ROC was from Dec/98 to Aug/99 where there was a sharp drop in M3 growth (M3 still was increasing obviously, just not the ROC). Since that Aug/99 period, we have for the first time made a lower low in ROC, so it is indeed flattening out. Of course, these are wiggles. M3 has been going straight up since 1994 or so.