Alarming trends: The UK broad money is experiencing a collapse, and the US is also experiencing this phenomenon.

The only caveat is that the slump in September was led by non-intermediate OFCs (which can be erratic).

But the underlying trends are alarming too. The 12m growth of household #M4 is at its lowest since records began in September 1998 – and the 3m ann rate is even weaker! (2/2) pic.twitter.com/cpEl5jX5kH

— Julian Jessop (@julianHjessop) October 30, 2023

🇺🇸 US M2 money supply -3.58% YoY.

In #recession and #depression territory! pic.twitter.com/EXWniNBrUu

— Alex Joosten (@joosteninvestor) October 27, 2023