• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

M2 Update

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Thu, 01/20/2011 - 21:31 | 892006 slow_roast
slow_roast's picture

Sweet...when do I get my check in the mail?

Thu, 01/20/2011 - 22:17 | 892145 Careless Whisper
Careless Whisper's picture

i'm calling bullshit on that chart. m2 is up 3.5% in one year. big deal. the chart distorts the increase because the chart doesn't show the full x and y axis. cheap trick.

Thu, 01/20/2011 - 22:24 | 892168 Jeff Lebowski
Jeff Lebowski's picture

Did someone say Cheap Trick?


Fri, 01/21/2011 - 07:43 | 892742 Michael
Michael's picture

I made a few new Youtube videos.

Congressman Steve Cohen AKA Nathan Thurm


Jesse Ventura Police State Fema Camps Remix


The Precautionary Principle Who Benefits?


Thu, 01/20/2011 - 22:26 | 892172 rosiescenario
rosiescenario's picture

...my take on it, too.


I am far more worried that it did not go up far more.

Thu, 01/20/2011 - 22:29 | 892177 Careless Whisper
Careless Whisper's picture

actually, m2 may have gone up more. if the source of those numbers is the privately owned federal reserve bank, then who knows what the real numbers are. does anyone believe anything they say?

Thu, 01/20/2011 - 22:35 | 892192 rosiescenario
rosiescenario's picture

...and we should really be looking at M3 (or a re-creation of it) to get the big picture.


I just looked at a 20 year chart of M2 (sorry I was not able to pate it here for some reason, but the trendline in the present and that past are the same.

Thu, 01/20/2011 - 22:38 | 892195 rosiescenario
rosiescenario's picture

...and here are a couple of M2 and "M3" charts with rates of change...


Thu, 01/20/2011 - 22:44 | 892207 rosiescenario
rosiescenario's picture

...look at the "FTTM" chart....that shows the real impact of the POMO....that's the chart Tyler should post above....

Thu, 01/20/2011 - 22:41 | 892197 hedgeless_horseman
hedgeless_horseman's picture

M3 is too expensive to report these days.  The Federal Reserve can no longer afford to calculate it, so they said when they stopped doing so a few years back at the start of this depression.  Google "disingenuous" for details.


Thu, 01/20/2011 - 22:43 | 892206 wisefool
wisefool's picture

+1099 Timmay bitches!

Thu, 01/20/2011 - 22:57 | 892230 rosiescenario
rosiescenario's picture


....and look at those FTTM charts....and I was worrying about the recent price action in silver....nevermore

Thu, 01/20/2011 - 22:32 | 892185 rosiescenario
rosiescenario's picture

Fri, 01/21/2011 - 03:37 | 892631 Sudden Debt
Sudden Debt's picture

At least your comment makes sence!

Thu, 01/20/2011 - 22:40 | 892198 docj
docj's picture

So, we've basically been straight-line off to infinity since about 1995 (aka, the pinacle of the Greenspan era), right?

It would be very interesting to see that chart in inflation adjusted USD, methinks.

Fri, 01/21/2011 - 08:06 | 892755 reading
reading's picture

That chart was pulled directly from the St. Louis Fed -- no distortion just reporting a factual event -- you might not be used to seeing facts reported.  It can be shocking.

Thu, 01/20/2011 - 21:32 | 892008 bob_dabolina
bob_dabolina's picture

That looks like the price of food. Strange. I don't get it.

-Steve Liesman

Thu, 01/20/2011 - 22:43 | 892205 zaphod
zaphod's picture


Thanks for the laugh you made my day.

Thu, 01/20/2011 - 23:46 | 892308 Hephasteus
Hephasteus's picture

Steve Liesman is just the jewel of the dephile. He just keeps giving and giving and giving. Endlessly entertaining that man is.

Thu, 01/20/2011 - 22:07 | 892029 Xibalba
Xibalba's picture

"There's no inflation."  - Ben Shalom Bernanke, Market Czar

Thu, 01/20/2011 - 21:38 | 892032 UglyPatheticPauper
UglyPatheticPauper's picture

WHEEEEEEEEE!!!!!!  Going up the Roller Coaster!!!   Wait does this come down on the other side??? :(

Thu, 01/20/2011 - 21:40 | 892039 Devout Republican
Devout Republican's picture

Looks like a Stairway to Heaven.

Thu, 01/20/2011 - 21:40 | 892040 Stoploss
Stoploss's picture

Well, it looks like the shit is really hitting the fan tonight.

Thu, 01/20/2011 - 22:34 | 892191 sunny
sunny's picture

?? What fan are you watching?  I've seen nothing...fannish.


Thu, 01/20/2011 - 21:43 | 892055 Everyman
Everyman's picture


Thu, 01/20/2011 - 21:45 | 892057 SloSquez
SloSquez's picture

He said he was not actually printing money people.  "Not printing it".  What don't you understand?

"Some people think we are actually printing money".  We are not.  Jeesh!!!!

<Sarc OFF>

Thu, 01/20/2011 - 21:58 | 892095 muniguy
muniguy's picture

It's a cookbook!

Thu, 01/20/2011 - 22:20 | 892156 Cheesy Bastard
Cheesy Bastard's picture

Serling silver comment!

Thu, 01/20/2011 - 22:33 | 892190 docj
docj's picture

Well played!

Thu, 01/20/2011 - 23:27 | 892262 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

I have to agree with Prof. Frink.

Thu, 01/20/2011 - 22:01 | 892099 Hephasteus
Hephasteus's picture

They don't print it they digitally create it. You know when you get those emails that say Congratulations you have won the australian lottery. Well at the fed when they get those they credit thier account.

Thu, 01/20/2011 - 22:11 | 892126 SloSquez
SloSquez's picture

Yes, I would have liked a chance at my own line of questioning.  He made his comment, oh so, innocently before lunch.  Bizarre.

Fri, 01/21/2011 - 08:09 | 892758 reading
reading's picture

They are not printing money, they are computer-generating it...I guess they see that as different...

Thu, 01/20/2011 - 21:44 | 892058 Shell Game
Shell Game's picture

If you could graph a party that you weren't invited to, that is it..

Thu, 01/20/2011 - 21:55 | 892085 Hephasteus
Thu, 01/20/2011 - 22:07 | 892114 Shell Game
Shell Game's picture

lol, good one..  So I phoned, B.B. will only let me have clean up detail.


Thu, 01/20/2011 - 21:56 | 892081 gwar5
gwar5's picture

I don't think that includes all the USD$$ we Benicoptered over for the Eurotrash derivatives, either.

Paul Krugman: "More! More! More! Oh yeah.... and I hate that bitch in Alaska too!"

Fri, 01/21/2011 - 00:08 | 892361 Amish Hacker
Amish Hacker's picture

How dare he refer to the half-term governor that way...

Thu, 01/20/2011 - 21:54 | 892082 muniguy
muniguy's picture

"In October 1923 it was noted in the British Embassy in Berlin that the number of Marks to the Pound equalled the number of yards to the sun"

that be a lot of yards...

Thu, 01/20/2011 - 21:57 | 892094 Cdad
Cdad's picture

Oh, good grief.


Thu, 01/20/2011 - 22:02 | 892101 Common_Cents22
Common_Cents22's picture

I can confirm this.  I just got a new unsolicited Visa in the mail from Chase with a large credit limit.   I use it and pay it off monthly to cost them money.  During the credit crunch I got one high limit card cut to 750 bucks and I have great pay history.  Was prob because I paid it off monthly.  I'm tempted to max it out and not pay this time around ;)


Here comes the good times once again!  

Thu, 01/20/2011 - 23:12 | 892244 the grateful un...
the grateful unemployed's picture

use the card to buy gold and then tell them to fug off, or better yet pay them back in worthless fiat money

Fri, 01/21/2011 - 00:57 | 892474 RockyRacoon
RockyRacoon's picture

They get merchant fees on everything you buy so you're only half right.

But your heart is in the right place.

Fri, 01/21/2011 - 01:27 | 892528 Burnbright
Burnbright's picture

Actually when you swipe your card and pay them back you are making them exactly the amount that you pay them. They do not loan any money from deposit, they create the credit from your signature. 

Fri, 01/21/2011 - 01:36 | 892549 GoinFawr
GoinFawr's picture

Mark to SkyPie Bitchez!

Thu, 01/20/2011 - 22:02 | 892102 UglyPatheticPauper
UglyPatheticPauper's picture

Honestly I pictured deflation a bit differently?

Thu, 01/20/2011 - 22:04 | 892108 Bigger Dickus
Bigger Dickus's picture

Add some V to that M and all of us Zerohedgers will be able to buy the Playboy Mansion (incl. bunnies) for a few double eagles. Too bad nobody else will afford to pay for gas though. Used Porsche 997s will cost a few silver rounds.

Thu, 01/20/2011 - 22:23 | 892162 Cheesy Bastard
Cheesy Bastard's picture

Ben says VM=FucQ

Fri, 01/21/2011 - 01:11 | 892500 Hammer Down
Hammer Down's picture

Love it

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