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

To: Tommaso who wrote (37749)	11/29/1998 1:51:00 PM
From: accountclosed	Read Replies (1) \| Respond to of 132070

Tomasso. I don't know where Joseph G. was coming from and would never presume to take up for him. But the title of Jim Grant's book "Money of the Mind" seems to fit here. By the title Grant actually meant credit rather than stock values. His argument was that people feel more flush and that they act differently when plenty of credit is floating around. I feel that inflated asset values similarly make people feel richer. While neither available credit nor inflated stock values are factored into the "M's", don't you feel they have impact? I think that this perhaps is where the statistic shows its limitation.

To: Tommaso who wrote (37749)	11/29/1998 5:28:00 PM
From: Skeeter Bug	Read Replies (1) \| Respond to of 132070

>>I think you must be joking about equity values causing fluctuations in the money supply. That's like imagining that the wind blows because the trees are waving. << tom, i noticed that the market tanked when m2 growth stopped almost concurrently. i don't see an obvious correlation why a drop in the market would stop m2 from growing. i do see a correlation the other way around. not absolutely sure it is accurate, though. there was extremely little delay, though, whatever happened. both happened almost instantaneously.