19-02-19M4No20

 19-02-19M4No20

Gulled by the ease of combining disparate times series on, eg, the Bloomberg machine, it is too easy to let analysis lapse into a simple chart-jockeying whose strabismically overlapping squiggles give one the illusion they possess a modicum of predictive power. Nowhere is this more true than where this involves measures of money. Then again, given the authorities' penchant for carpet-bombing the world with too much of the stuff, coupled with the vogue for rehashed inflationary hokums like MMT, this is all too easy to understand. We try to set matters straight in this regard.

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Cantillon Consulting

February 20, 2019
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