Latest Coppola Comment post debunks the money multiplier myth, yet again. I really shouldn't be still having to do this 15 years after Lehman. But some people who should know better seem intent on resurrecting it.
https://coppolacomment.substack.com/p/the-money-multiplier-myth-refuses
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@Frances_Coppola You might end up with M0>M4 and that's not allowed anyway cos you can't fit a bid doll inside a smaller one.
@SteelFolk Matryoshka money!
@SteelFolk Perfect description!
@Frances_Coppola You can fit a d into the space for a g though. Like I did just then.