M3 data – money “creation” still running high

TOo high for comfort: does oanyone remembers how jolly the ’70s were, with stagflation ruling? We got the same ingereidents: oil, M3, a weak dollar. Let’s hope this time the cocktail ain’t gonna be so toxic
clipped from blogs.wsj.com

  • John Williams, who runs the Shadow Government Statistics Web site and maintains (as best as possible) a count of M3, which was discontinued by the Fed, puts the year-over-year rate of growth in M3 at a current 15.3% in October, from 14.7% in September. “The October growth rate is the highest since August 1971, when Richard Nixon closed the gold window,” he writes. “The current pace of growth has increasingly disturbing inflationary implications.”
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