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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (80969)7/2/2008 5:12:56 PM
From: Secret_Agent_Man  Read Replies (3) of 116555
 
Bill;
I’m flabbergasted that folks "who should and have the capacity to know better" still DON"T. Take the highly respected "Mish" Shedlock, for example, who recently reported:

globaleconomicanalysis.blogspot.com

No Wage Price Spiral

Wage price spirals happen when corporations get into bidding wars over employees, not when they are shoving them out the door by the hundreds of thousands. Mr. Bond must be reporting from Bizarro World. The odds of a wage price spiral in the US are essentially zero as credit is drying up and overcapacity is everywhere you look. Massive Government and Private Sector Job Cuts Are Coming.

I cannot tell you how saddened I was to read such guffaw from such a highly respected financial commentator.

Of course there has been no "WAGE PRICE SPIRAL". All that ANYONE needs to do is watch Lou Dobbs every night to understand why. Do not think for a moment that "OPEN BORDERS" on the southern flank of the U.S. were not conceived of the same CRETINS who spawned the "STRONG DOLLAR POLICY". This has all been orchestrated and planned at the very highest levels.

So, while Mish is correct to claim that – TO DATE – there has been no Wage Price Spiral – there has also been no "EXPLOSION" in the gold price.

The reason why BOTH have been contained has been NEFARIOUS intervention.

I’m saying RIGHT HERE – the government WILL NOT CUT JOBS – and they WILL print money to pay ever burgeoning pay rolls.

I hope you send "Mish" a complementary subscription to Lemetropolecafe.com so he gets the picture "straight".
Best,
Rob Kirby
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