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Comment by osrec | Hacker News Reader

Is that massive jump covid related?

I watch this every 6 months or so https://www.youtube.com/watch?v=PTUY16CkS-k

I don't understand the difference but the text below particularly points out a change in measurement in May, 2020. I suppose that's the reason.

No, it's a change in methodology. The "money printer goes brr"-crowd is just unable to digest information.

No, that "crowd" is talking about the 30% increase in a year of M2 money supply, which is unprecedented in US history. The gymnastics going on with the M1 curve don't change that underlying fact, although it does provide a convenient strawman deflection in arguments so less informed people stop at this rebuttal and believe the whole "huge money supply increase" narrative is a hoax.

Yawn, any reason you did not link to the M2 graph at FRED? Maybe, because the bump is also a change in methodology? The money printer has been running for decades, but all of a sudden there is a problem? All that money is stuffed into equities and has no impact on inflation. But who gives a shit if one can talk about Bitcoin instead.

1. It has been linked many times in this thread.

2. No.

3. Not at a comparable rate as is evident from the graph.

4. Are equities and other assets completely disconnected from the consumer economy? Many of the new rich and retirees will cash out or take loans against their assets.

5. Economically speaking Bitcoin is inconsequential in this story. Careful using its proponents as another strawman.

money printer goes brrr

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