shhhh……It's Even Better Than The Great Depression……

According to Wikipedia, Narcissistic personality disorder (NPD) affects one percent of the population and has little to do with looking at yourself in the mirror.   It has a lot to do with unrealistic fantasies of success, power and  intelligence.     Some NPD sufferers become cult leaders or mass murderers, the rest become   economists and policy-makers.      Despite having  a highly elevated sense of self-worth,  narcissists have fragile self-esteem and   handle criticism unpredictably, so let’s keep this to ourselves”¦.
Velocity of money  is the  frequency with which a unit of money is spent on new goods and services.    It is a far better indicator of economic activity than GDP, consumer prices, the stock market, or sales of men’s underwear (which Greenspan was fond of ogling).   In a healthy economy, the same dollar is collected as payment and subsequently spent many times over.   In a depression, the velocity of money goes catatonic.    Velocity of money is calculated  by simply dividing GDP by a given money supply.    This VoM chart using monetary  base    should end any discussion of what  “this” is and whether or not anybody should be using the word ” recovery” with a straight face:
ZEROHEDGE