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To: Little Joe who wrote (19944)9/28/1998 1:21:00 AM
From: paul ross  Read Replies (1) | Respond to of 116770
 
That 2nd URL has already faded away. First go to:
bos.business.uab.edu

Then click on "US Monetary Data", then scroll down to "M3 Money Stock; SA" (and click). On this page scroll down to "starting year" and change to 1996, then scroll down further on that page to "Transformation
on Right Scale" and choose "period-to period percentage change at annual rates". Then scroll down a little further and click on "make chart".

This shows the rate of change in M3 growth slowing precipitously since about April of this year. The rate of change has approached 0. Rather strange behavior by the FED in a deflationary period. Many I'm sure could argue this marked decrease in liquidity could be what triggered the stock market plunge.