More monetary excess
Taking into account not just rapid domestic expansion, but also the sharp fall in the greenback, broad, dollar-denominated money supply went up on an annualized basis, in the six months to January at rates of:
Russia 53%
Each of Brazil, China and the Eurozone at 32%
India 30%
Japan 25%
Canada and the US each 20%
Is it any wonder prices of things are going ballistic and that stock markets are (just about) refusing to succumb to a darkening economic outlook?
Comments (2)
Josh D
I'm a bit new to Austrian economics- can anyone explain this article and chart?
Published: February 29, 2008 10:20 PM
M E Hoffer
Josh,
increases in monetary media lead to higher prices for real goods & services..
Published: March 1, 2008 9:49 AM