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January 28, 2009

Uncharted Territory, Charted

This chart shows the expansion of the money supply over the course of a hundred years. Notice how dramatically the line spikes -- it actually becomes, what's the word?, asymptotic.



Notice the curve. Which is not a curve. It's a straight line going straight up.

That is astonishing.

For those who urged an aggressive response to the crisis -- um, there it is, we've already done it, let's stop and see how things shake out. I myself urged an aggressive response, and I am quite satisfied with the level of aggressiveness here. Actually, a bit oversatisfied; I'm kind of freaked out about it.

So, um, let's just cool it for a while.

Thanks to Arthur.


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posted by Ace at 03:03 PM

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