Update of Austrian measures of the money supply
For Austrian economists doing economics is not about measuring things. However, it still can be useful to gauge the economic environment, whether that is the near term or long ago. Michael Pollaro here provide such an update of the money supply from over at Forbes. According to Pollaro:
TMS2, which represents our broadest and preferred U.S. money supply aggregate, posted a year-over-year rate of growth of 8.4% in October up from 8.1% in September. While still a robust rate, the U.S. monetary inflation rate is now substantially off its highs and in a decelerating trend. This is something not to be taken lightly. Indeed, as we discussed here, given the size of this our current monetary largesse, any substantive deceleration in the rate of monetary inflation from here ushers in the real possibility of another financial and economic bust, and a monumental one at that.