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Monetary Watch February 2011: Obama?s budget, the GOP and its implications for US inflation

By Implode-Explode Heavy Industries

``Turning to our longer-term twelve-month rate of change metrics ? more indicative of the underlying trends ? and focusing on our preferred TMS2 measure, we find that TMS2 saw another healthy increase in January, growing at an annualized rate of 9.9% for the second month in a row. As we said in last month?s Monetary Watch, we think that?s close enough to 10% to mark January 2011 as the 24th time in the last 25 months that TMS2 posted a twelve-month rate of growth in the double digits. That equates to a cumulative increase in TMS2 of some 26% over those 25 months. To put those numbers into perspective, the run-up to the now infamous housing bubble turn credit implosion turn Great Recession saw a string of 36 months of double digit growth for a cumulative increase of 48%. So yes, today?s inflationary largesse may be only 54% of that which brought on the Great Recession, but this one?s still going strong.''

Full post as published by Mortgage Lender Implode-o-Meter on February 21, 2011 (boomark / email).