Re: Euro Rates Slashed

[larson@xxxxxx (S R Larsson)]

W F Hummel:
>It is certainly true that credit money is employed in stock
>market speculation.  But bank credit has for decades far exceeded
>the monetary base.  How you would determine the fraction of the
>1990s stock market performance that can be attributed to credit
>money?

Have no idea yet, but it's definitely a challenging task. Perhaps one would
have to extend the study backwards to, say, 1980. But the principal
methodological problem still remains. As soon as I get a more permanent
position than my current one I intend to start working with this one.


/srl

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Sven Robert Larsson
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