“Any discussion of secular stagnation needs to divide the conversation into three parts: long-run growth, the deviation or gap away from the long-run (cyclical), and level changes in growth.” — Anonymous Copy Share Image
Significant changes in the growth rate of money supply, even small ones, impact the financial markets first. Then, they impact changes in the real economy, usually in six to nine months, but in a range of three to 18 months.… — Milton Friedman Copy Share Image
