Four years ago the Fed ended tracking the broadest measure of the
money stock, known as M3. To fill that gap, John Williams Shadow
Government Statistics ( www.shadowstats.com) estimates M3 from published
sources as part of his mission to strip away the obfuscation prevalent
in many government economic statistics.
"Not all economic
downturns are triggered by liquidity crises, but all liquidity crises
trigger or intensify economic downturns," he asserts.
Double dip recession close ???