The "M2 Money Supply", also referred to as "M2 Money Stock", is a measure for the amount of currency in circulation. M2 includes M1 (physical cash and checkable deposits) as well as "less liquid money", such as saving bank accounts. The chart above plots the yearly M2 Growth Rate and the Inflation Rate, which is defined as the yearly change in the Consumer Price Index (CPI). When inflation is high, prices for goods and services rise and thus the purchasing power per unit of currency decreases. Historically, M2 has grown along with the economy (see in the chart below). However, it has also grown along with Federal Debt to GDP during wars and recessions. In most recent history, M2 growth surpassed 10 percent in the crisis of 2001 and 2009, during which an expansionary monetary policy was deployed by the central bank, including large scale asset purchases. According to Bannister and Forward (2002, page 28), Money supply growth and inflation are inexorably linked.
Data Cash (2002)\"\"\"
Income is defined as household disposable income in a particular year. It consists of earnings, self-employment and capital income and public cash transfers; income taxes and social security contributions paid by households are deducted. The income of the household is attributed to each of its members, with an adjustment to reflect differences in needs for households of different sizes. Income inequality among individuals is measured here by five indicators. The Gini coefficient is based on the comparison of cumulative proportions of the population against cumulative proportions of income they receive, and it ranges between 0 in the case of perfect equality and 1 in the case of perfect inequality. S80/S20 is the ratio of the average income of the 20% richest to the 20% poorest; P90/P10 is the ratio of the upper bound value of the ninth decile (i.e. the 10% of people with highest income) to that of the first decile; P90/P50 of the upper bound value of the ninth decile to the median income; and P50/P10 of median income to the upper bound value of the first decile. The Palma ratio is the share of all income received by the 10% people with highest disposable income divided by the share of all income received by the 40% people with the lowest disposable income.
The euro was launched on 1 January 1999, when it became the currency of more than 300 million people in Europe. For the first three years it was an invisible currency, only used for accounting purposes, e.g. in electronic payments. Euro cash was not introduced until 1 January 2002, when it replaced, at fixed conversion rates, the banknotes and coins of the national currencies like the Belgian franc and the Deutsche Mark.
Since the introduction of euro cash in 2002, the value and the number of euro banknotes in circulation have risen steadily. Cash is by far the most widely used means of payment for retail transactions in the euro area in terms of the number of transactions, although in terms of value it has a significantly smaller share. In both respects, however, the role of cash has been gradually declining in recent decades, while the use of debit and credit cards has been growing, a trend that is expected to continue.
One of the basic tasks of the Eurosystem under the Treaty on the Functioning of the EU is to promote the smooth operation of the payment system. The Eurosystem is neutral with regard to the different payment instruments. It does not favour one instrument over another. However, the Eurosystem central banks have a special responsibility for cash, as they are the official issuers of euro banknotes. In addition, most of them put into circulation the euro coins, which are issued by the Member States. Therefore, the Eurosystem is committed to supporting cash as a generally available, easy-to-use, reliable and efficient means of payment for retail transactions. Within its sphere of competence, the Eurosystem monitors and continuously seeks to promote the safety, resilience and efficiency of the euro area cash cycles.
In less than a year from this writing, money will no longer be a factor in pretrial release decisions pertaining to defendants accused of committing crimes in Illinois. The elimination of cash bail was one of the major reforms in a criminal justice omnibus bill signed into law by Governor Pritzker in February 2021, and will take effect on January 1, 2023. This change in policy and practice represents a historic and fundamental shift in the pretrial release system in Illinois. Instead of setting a dollar amount, judges will make determinations about whether to release someone charged with a crime based on the level of risk the person poses to the community or the risk of not appearing in court.
Based on information publicly available in data dashboards produced by the Office of the Cook County Chief Judge, several conclusions can be drawn about the pretrial release decisions made in Cook County bond court and the public safety outcomes associated with those pretrial releases. The dashboards do not, however, answer questions specific to only those defendants ordered to electronic monitoring in Cook County, but they do provide a general landscape for all defendants released pretrial. (Electronic monitoring is discussed further below.) The following are a few key takeaways based on the most recent available data as of June 30, 2021:
Old-Age, Survivors, and Disability Insurance Trust Funds, 1957-2021[In millions] Asset Reserves a Calendaryear Totalincome Totalcost a Net increaseduring year Asset Reserves atend of year 1957 $8,090 $7,567 $523 $23,042 1958 9,108 8,907 201 23,243 1959 9,516 10,793 -1,277 21,966 1960 12,445 11,798 647 22,613 1961 12,937 13,388 -451 22,162 1962 13,699 15,156 -1,457 20,705 1963 16,227 16,217 10 20,715 1964 17,476 17,020 456 21,172 1965 17,857 19,187 -1,331 19,841 1966 23,381 20,913 2,467 22,308 1967 26,413 22,471 3,942 26,250 1968 28,493 26,015 2,479 28,729 1969 33,346 27,892 5,453 34,182 1970 36,993 33,108 3,886 38,068 1971 40,908 38,542 2,366 40,434 1972 45,622 43,281 2,341 42,775 1973 54,787 53,148 1,639 44,414 1974 62,066 60,593 1,472 45,886 1975 67,640 69,184 -1,544 44,342 1976 75,034 78,242 -3,209 41,133 1977 81,982 87,254 -5,272 35,861 1978 91,903 96,018 -4,115 31,746 1979 105,864 107,320 -1,456 30,291 1980 119,712 123,550 -3,838 26,453 1981 142,438 144,352 -1,914 24,539 1982 147,913 160,111 239 24,778 1983 171,266 171,177 89 24,867 1984 186,637 180,429 6,208 31,075 1985 203,540 190,628 11,088 42,163 1986 216,833 201,522 4,698 46,861 1987 231,039 209,093 21,946 68,807 1988 263,469 222,514 40,955 109,762 1989 289,448 236,242 53,206 162,968 1990 315,443 253,135 62,309 225,277 1991 329,676 274,205 55,471 280,747 1992 342,591 291,865 50,726 331,473 1993 355,578 308,766 46,812 378,285 1994 381,111 323,011 58,100 436,385 1995 399,497 339,815 59,683 496,068 1996 424,451 353,569 70,883 566,950 1997 457,668 369,108 88,560 655,510 1998 489,204 382,255 106,950 762,460 1999 526,582 392,908 133,673 896,133 2000 568,433 415,121 153,312 1,049,445 2001 602,003 438,916 163,088 1,212,533 2002 627,085 461,653 165,432 1,377,965 2003 631,886 479,086 152,799 1,530,764 2004 657,718 501,643 156,075 1,686,839 2005 701,758 529,938 171,821 1,858,660 2006 744,873 555,421 189,452 2,048,112 2007 784,889 594,501 190,388 2,238,500 2008 805,302 625,143 180,159 2,418,658 2009 807,490 685,801 121,689 2,540,348 2010 781,128 712,526 68,602 2,608,950 2011 805,057 736,083 68,975 2,677,925 2012 840,190 785,781 54,409 2,732,334 2013 855,021 822,925 32,096 2,764,431 2014 884,276 859,230 25,046 2,789,476 2015 920,157 897,123 23,034 2,812,510 2016 957,453 922,276 35,177 2,847,687 2017 996,581 952,478 44,103 2,891,789 2018 1,003,373 1,000,233 3,140 2,894,929 2019 1,061,775 1,059,299 2,476 2,897,405 2020 1,118,096 1,107,214 10,881 2,908,286 2021 1,088,326 1,144,582 -56,256 2,852,030 a Beginning in 1979, benefit payments scheduled to be paid on January 3 of a given year were paid on December 31 of the preceding year as required by the statutory provision included in the 1977 Social Security Amendments for early delivery of benefit payments when the normal payment delivery date is a Saturday, Sunday, or legal public holiday. Such advance payments have occurred about every 7 years, first for benefits scheduled for January 3, 1982. For comparability with other historical years, all trust fund operations and asset reserves reflect the 12 months of benefits scheduled for payment in each year. Note: The annual net increase in the funds is the change in the asset reserves from the end of one year to the end of the next. In 1982, the Old-Age and Survivors Insurance (OASI) Trust Fund borrowed money from the Hospital Insurance Trust Fund, and repaid the borrowed amounts in 1985 and 1986. For each of these years, the net increase in the funds is equal to total income less total cost, plus amounts borrowed or less amounts repaid. Asset reserves, except for relatively small cash amounts, are invested in Federal Government securities. For trust fund data prior to 1957, see OASI data (the Disability Trust Fund was established in 1957).
Care Not Cash was a San Francisco ballot measure (Proposition N) approved by the voters in November 2002. Primarily sponsored by Gavin Newsom, then a San Francisco supervisor, it was designed to cut the money given in the General Assistance programs to homeless people in exchange for shelters and other forms of services. The major intent of this measure was to prevent the cash grants given to be used for purchasing drugs and alcohol, and to strongly encourage homeless people to enter shelters or housing and obtain counseling and other services.
Care Not Cash caused a significant amount of controversy in San Francisco. The name was seen as a euphemism, and critics complained that the quality of care provided was not equivalent to the cash. The major debates, however, were in the many underlying issues that Care not Cash brought up, including: 2ff7e9595c
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