Put On the Blinders and Run

From the e-economic newsletter in the Free Market News:

For those of us who are dismayed at the decision by the [U.S.] Federal Reserve to no longer publish the M3 numbers, which is the broadest measure of the money supply, alert reader Tom McC. thinks like we do, but with a nautical bent. He says "I refer to the government's refusal to publish M3 statistics going forward as the Depth Gauge gambit, as it is akin to disconnecting the depth gauge as a means of combating flooding in a submarine."

An interesting read.

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