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M3
Old 09-07-2004, 11:43 PM   #1
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M3

Guys,

I'm usually pretty financially optimistic. But this just stopped me dead in my tracks:

http://www.economagic.com/em-cgi/data.exe/fedstl/m3sl

How can Greenspan justify letting M3 double in less than 9 years?

Somebody comfort me and tell me this is okay cuzz that ain't what I heard in college...
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Re: M3
Old 09-08-2004, 12:32 AM   #2
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Re: M3

Quote:
How can Greenspan justify letting M3 double in less than 9 years?
What's the problem? It looks like M3 has been doubling every 9 years since 1959. Except for the 70's and 80's, in which it doubled every 6-7 years.
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Re: M3
Old 09-08-2004, 01:01 AM   #3
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Re: M3

Quote:
What's the problem? * It looks like M3 has been doubling every 9 years since 1959. * Except for the 70's and 80's, in which it doubled every 6-7 years.
Yes, during the inflationary years of the 70's and early 80's that's true. But notice that it took thirteen years from 87 to 2000 for it to double during our bull market run. But I just noticed that Greenspan was sworn in in 87, so he actually slowed down M3 for awhile. So disregard...didn't pay attn to the numbers closely enough.
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Re: M3
Old 09-08-2004, 08:34 AM   #4
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Re: M3

As much as I enjoy reading the investment related postings here, sometimes the information and dialogue shared here really make me feel like a dum dum
so
pardon me while I expose a bit of my ignorance,

What is M3?
Is it the available supply of money and was the concern that it was growing too rapidly?

I checked Google 1st, but didn't get a clear enough answer.

Thanks

MJ
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Re: M3
Old 09-08-2004, 08:50 AM   #5
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Re: M3

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What is M3?
http://tinyurl.com/xl0p
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Re: M3
Old 09-08-2004, 05:17 PM   #6
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Re: M3

Here you go:

http://economics.about.com/cs/money/a/money_supply.htm

(This ought to cure your insomnia.)
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Re: M3
Old 09-08-2004, 05:32 PM   #7
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Re: M3

I like this definition of M3 better btw! (Altho I don't think it fits in that well with my ER plans.)
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Re: M3
Old 09-08-2004, 05:48 PM   #8
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Re: M3

Thanks, I think. :P

That's a little better. I almost thought that M3 was the total dollar value of all new BMW in the universe.

MJ
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Re: M3
Old 09-08-2004, 05:54 PM   #9
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Re: M3

Here's a good explanation of how money works:

http://landru.i-link-2.net/monques/mmm2.html

Warning: don't read it lying down.
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