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Thank you for a great ride, and for 8 years of support!

Comment: Indeed

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In reply to comment: The guy does not know how to (see in situ)


Apparently he missed the fact that the chart expresses changes in M3, not the absolute level. M3 never dropped at all except briefly during 08-09, and then at a modest clip, rebounding substantially since then. And anyway, M3 isn't money supply. Best to look at M1 + savings deposits, neither of which dropped at all even in 08-09, and both of which have grown by about 75% since 2008.

"Alas! I believe in the virtue of birds. And it only takes a feather for me to die laughing."