Money Supply

In January, year-over-year growth in the money supply was at 3.3 percent. That was down from December's growth rate of 3.8 percent, but was up from January 2018's rate of 2.8 percent.

In November, year-over-year growth in the money supply was at 3.48 percent. That was down from October's growth rate of 3.7 percent, but was up from November 2017's rate of 2.6 percent.

Money supply growth slowed in October, falling to the lowest rate recorded since February of this year.

Money supply growth rose in August, rising to the highest rate recorded since March of this year.

Money supply growth fell in July, dropping to the lowest rate recorded since February of this year.

Rothbard explains the concept of the "supply of money."

Money supply growth inched upward again in June this year, but remains well below the growth rates experienced from 2009 to 2016.

In May, year-over-year growth in the money supply fell to a 3-month low, growing 4.2 percent. That was down from April 2018's rate of 4.2 percent, but remains up from November 2017's low of 2.6 percent:

In this interview, Joseph Salerno discusses how he and Murray Rothbard developed a better measure of the money supply. 

The suppression of the TMS growth rate, if it is sustained for the rest of the year, portends another credit crisis and housing bust.