Monetary Base grew 16.85% in Four Weeks!
Are you feeling rich yet? Me neither!
But I’m not making this up. Go to the Federal Reserve’s H.3 report and see for yo’self:
Monetary base, Sep. 10 — $843.766 billion; Oct. 8 — $985.899 billion; growth rate = 16.85% in 4 weeks
What I find extremely cool is to enter 1.1685 in the calculator, and multiply it by itself 13 times to annualize it (4 weeks x 13 times = 52 weeks). I get 7.57 as the answer — meaning that last month’s puny $843 billion monetary base (almost ludicrously inadequate for a large, powerful economy such as ours) would expand to a handsome $6.38 trillion by next September at the current growth rate. Now that sounds a lot more respectable for a $14.3 trillion GDP powerhouse.
And I am extremely hopeful that a portion of this bountiful cornucopia of fresh cash will trickle down to me. Hell, I’ve got half a mind to buy a new Maserati and drive fast and burn rubber and tear things up. Creative destruction, I call it. Me and Joe Schumpeter, helping the "economy."