The Problem Is Fed Rate Repression, Not Liquidity Shortages—The System Is Awash In Cash

November 4, 2019 5:14 pmNovember 3, 2019 10:26 am by IWB

By David Stockman

CAGR Since Q4 2007 Pre-Crisis Peak:

Nominal GDP…………3.31% (brown)
Currency………………..7.04% (blue)
Savings deposits……..8.03% (green)
Checkable deposits….11.82% (purple)