 Thank you very much; you're only a step away from downloading
your reports.  Revisiting the M3 Contraction   Why commentators
don't agree.  Many have been writing to ask how the chart and
commentary in M3 Contraction - The Future Is Now can possibly be
correct. Here is the chart and a snip of text once again for
convenience. The key sentence below is in bold.  The Telegraph
is reporting that the contraction in the US money supply points
to a Wall Street crunch ahead.  "The US money supply has
experienced the sharpest contraction in modern history,
heightening the risk of a Wall Street crunch and a severe
economic slowdown in the coming months.  Click to enlarge  Data
compiled by Lombard Street Research shows that the M3 ''broad
money" aggregates fell by almost $50 billion (£26.8 billion) in
July, the biggest one-month fall since modern records began in
1959. 'Monthly data for July show that the broad money growth
has almost collapsed," said Gabriel Stein, the group's leading
monetary economist.  "On a 3-mont