CHART OF THE DAY: Say Goodbye To The Great Liquidity Wave Joe Weisenthal and Kamelia Angelova | Jan. 25, 2010, 3:37 PM
In the last several days, a view emerged that the tightening has un-officially begun.
China is restricting lending, and voters are lashing out at politicians who like to spend.
It's only a matter of time before Bernanke is compelled to act to prevent inflation.
Indeed, as noted in a recent report from Morgan Stanley, the amount of "excess money supply" relative to GDP growth is "toppish" to use their words. Actually, it looks like worse than toppish. The contraction looks sharp, and equivalent with other peaks.