>>INDEED, we note last week's US Payroll data, which revealed a SIZABLE PLUNGE in the Aggregate Hours Index, which provides a decent proxy for US GDP. Average weekly hours sits equal to the secular low, set last year, at 34.0 hours. So, while income did show its biggest rise of the year (though NOT large nominally, nor historically) if workers earn 2c more per hour, and work less, this does NOT necessarily mean, he is taking home more disposable dough. <<
Huh?! This is complete BS. 70% of US GDP is CONSUMER SPENDING. Who said that to be able to spend, you need to earn first?! Be a sport, take an equity loan, go on sick leave for the day (or, hopefully, you dont need to do even that, because you're out of job anyhow) and SPEND.
People should focus more - It's the economy, stupid!
end of rant
dj |
