Following nine years of aggressive monetary expansion in the U.S., the money supply growth rate has now dropped back to Lehman lows.
The sharp fall in the growth rate during the last year has pushed the money supply impulse down dramatically and close to a 26 year low.
As stocks thrive on an expanding money supply growth rate and loath a falling one, it's only a matter of time before the next U.S. bear market sets in.
As of 27 October 2017 |
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