M2 money supply has ballooned to $88 trillion. Link here. M2 is basically cash.
M2 is a calculation of the money supply that includes all elements of M1 as well as "near money."
M1 includes cash and checking deposits, while near money refers to savings deposits, money market securities, mutual funds, and other time deposits. These assets are less liquid than M1 and not as suitable as exchange mediums, but they can be quickly converted into cash or checking deposits.
Re-posting: earlier today I posted --
Investing: I've been actively investing since 1984 and consider myself an extremely conservative investor, and not particularly knowledgeable. But there are two tectonic changes:
- huge, huge shift from "legacy" holdings to "millennial" holdings;
- the sky is the limit; huge amounts of money out there; maybe more on this later; record $15.6 trillion in US savings accounts:
Aluminum can shortage. Google hard seltzer, hard cider, Truly, White Claw. The drink of choice in our apartment complex pool is ... Truly. I've not seen White Claw. When I was in England for many months on end between 2002 and 2004, hard cider was a "thing."
Trump cancels GOP convention. Will Dems do the same? On another note, a sports writer questions whether there will even be an NFL season this year. Having said that, the tea leaves continue to swirl and things could change quickly. Will re-post as a stand-alone post.
Masks and social distancing: there was none yesterday at the PGA Nationwide Challenge charity tournament. I watched for a short time but I saw lots of golfs standing in groups, no masks, no social distancing.
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