The Monkey Multiplier
This is Mark Dow. Brad is still away. There has been a lot of response to the assertion I made the other day that base money has not been growing since December, and that the money multiplier is not passing much of anything on to the broader economy or markets. The story that the Fed is printing money is just too strong to kill with a few facts. But, let me try again with a picture. Here’s a chart I stumbled onto. It was Bloomberg’s chart of the day a couple of weeks ago.
Read more here – The Monkey Multiplier
