Since Obama took office in January 2009, the M1 Money Supply has increased 20.8%. The data can be found at the following website for the St. Louis Federal Reserve:
http://research.stlouisfed.org/fred2/data/M1SL.txt
The graph of the M1 Money Stock and its definition below shows this administration’s penchant for destroying the value of the dollar and by extension, our economy and wealth. I keep hearing the song by Pink Floyd: “Is there anybody out there?”.
David DeGerolamo
Ml includes funds that are readily accessible for spending. M1 consists of: (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) traveler’s checks of nonbank issuers; (3) demand deposits; and (4) other checkable deposits (OCDs), which consist primarily of negotiable order of withdrawal (NOW) accounts at depository institutions and credit union share draft accounts. Seasonally adjusted M1 is calculated by summing currency, traveler’s checks, demand deposits, and OCDs, each seasonally adjusted separately.
Information from: http://research.stlouisfed.org/fred2/series/M1SL
