Remember Michael Pollaro and TMS?

Michael Pollaro used to have a blog at Forbes with which he highlighted the ‘True (Austrian-based) Money Supply’ (TMS) among other macro market indicators. I used to read him fairly regularly. He is no longer blogging, although I would encourage him to do so again. I would be honored to re-publish his work at Biiwii.

Anyway, Michael has included me in an email group of his after he subscribed to NFTRH recently (when some of your influences become your subscribers it’s a little weird… in a good way). In that group he supplies charts and brief comments.

This one shows the BAA Spread turning up in a similar way to 2007, although TMS is not quite as depressed. BAA-10yT did turn up in a false alarm in 2014-2015 but TMS was much higher then.

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