From: Ronald Raygun 
Subject: Re: Banks create money, yes they do (Was:Re: Fixed-rate Loans)
Newsgroups: uk.finance ie.general
Date: Thu, 29 Mar 2007 21:06:54 GMT

John Boyle wrote:

> In message , Tim 
> writes
>>
>>But if the ratio of loans to other types of borrowing (overdrafts,
>>credit cards) varies with the seasons as I've just suggested, then the
>>rate of change of the money supply will also vary with the seasons
>>**even if** the underlying total level of borrowing is constant!
> 
> Yes. Its called 'seasonal adjustment'. I thought you would have heard of
> such a thing.

Is that because death statistics are also seasonally adjusted and
it's thus something which has-bean counters should be familiar with?