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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Mike M2 who wrote (35699)	11/9/1998 11:45:00 PM
From: kahunabear	Respond to of 132070

A "very plausible scenario" for your review: Message 6327723 WS

To: Mike M2 who wrote (35699)	11/10/1998 6:03:00 AM
From: Tommaso	Respond to of 132070

Of course, there it is. Thanks for helping me to see what is right under my nose! It would be interesting to know, though, how Tice got that 16% figure. In the last day or two my copy of "Monetary Trends" arrived from the St. Louis Fed, and this new measure that replaces M1, called "MZM", does show very high rates. MZM seems to have been created because banks are good now at electronically sweeping checking account balances into savings accounts so as to boost reserves so that they can lend even more. When I go downstairs I will take a closer look at the chart that shows MZM and see if it got as high as 16%. But M2 and M3 don't seem to have ogt any higher than around 10% (which is bad enough).

To: Mike M2 who wrote (35699)	11/10/1998 10:14:00 AM
From: Tommaso	Read Replies (1) \| Respond to of 132070

In a table on the last page of the October issue of "Monetary Trends," it shows a 1.11% gain for the MZM measure of money supply for the most recent month. This annualizes to about 14% (compounded monthly)--but this figure is very short-term and wildly variable from month to month. But on the whole money growth is at least equal to what enabled the inflation rates of the early 1970s, and much of it seems to be going right into the equity bubble and low-equity mortgages(as well as into millions of sports-utility vehicles, upscale California wines at $65 a bottle, new stadiums, new malls, vehicle leasing, and so on).