The M3 money supply in the United States is contracting at an accelerating rate that now matches the average decline seen from 1929 to 1933, despite near zero interest rates and the biggest fiscal blitz in history.
The M3 figures - which include broad range of bank accounts and are tracked by British and European monetarists for warning signals about the direction of the US economy a year or so in advance - began shrinking last summer. The pace has since quickened.
The stock of money fell from $14.2 trillion to $13.9 trillion in the three months to April, amounting to an annual rate of contraction of 9.6pc. The assets of insitutional money market funds fell at a 37pc rate, the sharpest drop ever.
"It’s frightening," said Professor Tim Congdon from International Monetary Research. "The plunge in M3 has no precedent since the Great Depression. The dominant reason for this is that regulators across the world are pressing banks to raise capital asset ratios and to shrink their risk assets. This is why the US is not recovering properly," he said.
The US authorities have an entirely different explanation for the failure of stimulus measures to gain full traction. They are opting instead for yet further doses of Keynesian spending, despite warnings from the IMF that the gross public debt of the US will reach 97pc of GDP next year and 110pc by 2015.
Larry Summers, President Barack Obama’s top economic adviser, has asked Congress to "grit its teeth" and approve a fresh fiscal boost of $200bn to keep growth on track. "We are nearly 8m jobs short of normal employment. For millions of Americans the economic emergency grinds on," he said.
Good old Larry. Goldman Sacs pawn. Keep printing that toilet paper. Must empower the Fed and kill private industry.
ReplyDeleteGerald Celentes' take on Larry Summers sums it up. A member of the Wall St gang.
ReplyDeleteI've just bought $35,000 worth of shares. I'll be making at least $20,000 in one day when the markets open. There is no crash, and it's BOOM times ahead. Time to start making the BIG BUCKS! By the end of the week, i'll be up $100,000 while you all still buy baked beans preparing for a crash that will never happen.
ReplyDeleteYou loosers !!!!
Peter, can you say "BS artist"? Because that's what you are. Tell us EXACTLY how you are making 100K in the market this week and we MIGHT believe you. Otherwise, you're full of it and I'm calling you out on it.
ReplyDeleteYou want me to tell you how? Are you kidding? People that know how to make money don't pass on this info to anyone.
ReplyDeleteI have almost $1mil in shares, most in Blue Chip.
This week, i'll be snapping up shares that people dumped when they panicked. These will rise by atleast %5 - %7 over the week.
This including the blue chip shares, and my dividends will make me a ton of cash.
This is the time to buy, when the spineless sell, and the winners buy.
The markets are booming, mark my words. The wealthy know this.
The way you can tell he is lying is the way he types. Anyone who is wealthy or was capable of making their own wealth should be decent writer/typer, he talks like someone who would make up a second life out of pure boredom.
ReplyDeleteAlso note telling people this here and calling us "loosers". Good way to cultivate time, a very mature professional.
At the same time 4:34, to use the no girlfriend = masturbation joke thing makes you seem like a young teenager. ALL people masturbate including married men. There is even an epidemic right now of married men with porn obsession, these are otherwise normal guys you'd come across everyday who pick up this disease.
Married women in Canada have sex 1.57 times a week on average. Now think about this, if one is not married, nor do they have a long term relationship with a person and live toether (in other words they are single or live separately) that means people in that predicament would have to wait a long time to finally get another sex partner to get sexual releif. I'd certainly hope people would be sane enough to masturbate, if they didn't they might just have OCD and a fear of germs.
Masturbation is mandatory for sexual releif in males, this stereotype needs to be cut away from society as it seriously deludes people into making them think they have a problem if they are single and can't pick up new partners. It is very difficult to pick up partners for everyone whether they are fat, ugly, or good looking. The average male goes through life having 5 different relationships, women will have 3 (avg). That especially means that women and men who have degrading lifestyles; drug addiction, bad upbringing, etc. will have far more and weigh that number up. Most sober and healthy minded people will struggle to find other serious relationships that will last for life.
Peter is another disinfo goon, please ignore him.
ReplyDeleteIf Peter was doing what he said he was doing then why would he be wasting his time reading the The Coming Depression blog?
ReplyDeleteInstead he would be reading what would make Peter more money.
Maybe Peter does not understand how a contraction in the money supply is going to affect him ... or maybe he is just a gov shill.
Please don't waste your time on Peter. Bury Peter mindless comments and his SOS (Stuck on Stupid) comments
ReplyDeletePeter is obviously begging for attention by posting what he knows will get you all stirred up.
ReplyDeleteNo doubt Peter is toggling back and forth from this forum to porn sites; Playing with his peter.
Now back on topic
link broken. try this:
ReplyDeletehttp://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/4339501/Bad-news-were-back-to-1931.-Good-news-its-not-1933-yet.html
You loosers !!!!
ReplyDeleteLooser than what? Use your spell checker troll.
4:11 I am familiar with the type of investing you do. You can make a very sweet living if you are willing to do the work and have the savvy. Most people just use the market to try to do better than interest. They rely on their broker to call them and tell them what to do. The reason so many lost their 401k is because most of the little guys were listening to the big guys tell them the same old market speak "leave your money in for the long haul... you need to ride this out because the market does this all the time." Unfortunately, most older Americans did just that and lost half of their money. When it was near bottom they sold and decided that banks or under the mattress was better so they would never recover their losses. Others left their money in and saw it rise back up after almost 1 1/2 years to what they had originally (est. and speculation). So, today the big shots are more cynical. Half are telling the little people to get out now and the other half say leave it alone. As you know most people just don't like to think about it much and thus the losses and panic when the bottom drops. The market is set for a major correction and will creep and occasionally leap lower until most of the little people have had enough and the Fed's are not able to manipulate it further through the banks they bailed out and currently manage. As you know there are a lot of huge unions i.e. teachers etc. that also play and they are causing major moves. The Market will affect the little people and the overall economy as companies can't borrow and their stocks drop they will do more lay offs. I am not an EA so I am sure that he can chime in here, but we are really in for it. It seems to me that the people with more at stake are helping propagate the lie in order to profit from the volatility. And as usual these Sociopaths do not care a lick for anyone outside their little click of family and acquaintances so they feed the lie to the ignorant who expect their help and guidance while lining their pockets and fattening up their accounts at the expense of the sheep. If more would tell the truth we would have hit bottom a year ago and may have had a chance to crawl out of this in 3 or 4 years, but because the lie was and is continued we will have to print money and watch as the world crumbles around us. I do not know how long it will be before the struggle of the lower classes will become unbearable in the US and we see the fabric of our society begin to shred, but I do know that we are on the brink. A major terror attack, a hurricane blowing oil all over homes, land and business and then torching the coast whatever... we are in a fragile position. The next step will be world war 3. If you are watching and keeping up, many nations that are in economic peril are already saber rattling. We will get on board to stop social unrest on our continent. Regardless of how long any of this takes, we will never be the same. I love my country by Elite Deviance sickens me and It will not stop until the American public open there eyes and recognize that the greed of some attorneys (politicians etc.) manipulating law for gain has been our downfall in every area of our society. If you do not think that BP has some of the best lawyers in the country scrambling to figure out how to legally limit their liability or the politicians who will have millions in campaign funds through loop holes if they will help BP get out of some of their liability well then I suppose you would be naive.
ReplyDeletePeter - you are a liar...........are your just trying to fan the flames of those already mad as hell
ReplyDeleteIf your part of the insider crowd then you just put a big Bulls Eye on your back.
LOL
The stock market is just a con game. Greed and fear. MANY more losers than winners.
ReplyDeleteUnless of course you cheat like GS.
Stay out of that soon to be collapsing sewer.
Buy Gold and Silver.
Horrible! SHUT UP THE OBAMA SOCK PUPPET AUTO PLAY!!!
ReplyDeletePeter since you don't know how to spell "loser" I imagine you inherited all your money and it will just be a matter of time till you squander it on your stupid gambling
ReplyDeletelot of people are making money in and out of the market.
ReplyDeletebut! the reality is there is no real wealth growth.
just massive debts.
peter your an ass
next we will see more major probloms soon .
we need to hyperinflate out of this.
market will collapse peter will blow his brains out
people who bought gold will hold onto savings
in greece the rioters were the teachers the goverment workers
not the carpenters or the poor
they just backed them up
of coarse youll never see that on msm
the news today are for the children the foolls
and for those who benefit from you working like a slave like the teachers goverment officals the rich
all is good when the slave knows his place
but one thing is missing
reality which is what this article is based on
so get ready peter left nut licker
also i had to hear obama on this feed
ReplyDeletehes a moron leading america into destruction
obamas katrina going well
he partys like its 1999 with kool and the gang
we are so screwed
market at 10 thou some idiot saying he made money
hahhaahhh