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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Jim Willie CB who wrote (1665)10/31/2003 4:17:36 PM
From: russwinter  Read Replies (3) of 110194
 
Here's the latest two week Daily Treasury Statement of wage withholding:

Friday 10/17- Thurs 10/30 was 42,195 compared to 43,932 for Fri 10/18-Thurs 10/31 a year ago. That's a grim 4.0% DROP.

The previous two weeks was 46,290 compared to 47,056, a 1.6% drop.

Combined we get the last four weeks at 88,485 compared to 90,988, a 2.8% DROP.

Charles Biderman at Trim Tabs said the following about the DTS:
"W&S subject to withholding comprises about 2/3 of the Bureau of Economic Analysis personal income numbers. The rest is GIGO (garbage in, garbage out)."

Clearly this suggests an extremely poor PI number for October.
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