How much money is that?
Below is a graphic that’s been popping up around the blogosphere, I copied it from Ace…
Money Supply Since 1910
It’s kind of hard to make out, but the line goes vertical last year. Vertical.
The money supply has doubled (nearly) in the last five months. Doubled. All the money in the US, doubled.
As can be seen in the graph, this is unprecedented, really unprecedented. And as Ace points out, it might be a good idea to take a wait and see attitude on this whole stimulus plan here and just see what happens first.
The history of economic stimulus isn’t exactly stellar either. And since only about 12% of this giant bill can even reasonably be called stimulus, maybe we might want to hold off on the whole largest-bill-ever thing for a month or two. No?
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