Gotta love the Fed trying to hide M3. Man, they must think we're fricking stupid.
Oh, wait, we ARE fricking stupid... Except for the economists and websites that reconstruct it and people like HPers who still give a rat's ass..
We did some sleuthing and data extraction and put M3 back together from various weekly Federal Reserve reports that are still available.
The formula we're using has five 9s correlation to the original data back to 1980.
There is only one missing element that is apparently no longer available (Eurodollars) and an adjustment has been applied to generate it. Its only about 3% of total M3 so should not have a material effect on the total.
Here is our article on M3b, which details our work and notes the sources for the data. Note that as of Nov. 10, 2006 the Eurodollar estimation formula has changed - see the article for details. John Williams reconstruction of M3 is here.
January 04, 2007
Nobody seems to care yet everyone should... US (no longer published) M3 money supply going parabolic (goodbye dollar)
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7 comments:
the people i've mentioned m3 to never heard of it, not that i think they would have. i never did either until blogs like this kept going off about it. but i do watch me some cnbc now, and i dont think i've seen it there.
We care, but there is nothing any one can do about it. Is there?
M3 is rapidly going up. M1 is going DOWN. The excess money is chasing eastern-european junk bonds.
All this increases the risk of a deflationary crash. High inflation will come after that.
wayyyyyyyyyyyyyyyyyyyyyyyyyy late Keith
they stop publishing the M# on March 23rd 2006
Richard - this is probably my 10th post on M3, including on the day it went away, where HP was one of the only blogs to tackle it that day
Come on, a little credit here is due
Keith and the rest of the Democrats here,
Would increasing the minimum wage by $2.10 cause inflation?
If no, why not.
If yes, why would you support a party that pledged to do just that/
Good interview with John Williams on the Financial Sense Newshour.
Farm Girl
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