Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (95792)	3/27/2009 7:22:02 AM
From: Dan3	3 Recommendations Read Replies (2) of 116555

Re: Wage Deflation Sets In It may be, but examples from the print media sector are not very convincing (and consider that they come from an electronic media source - the "goods" substitution that's replacing print media). Sort of like writing about the end of interstate transportation in the 40's because the number of coal-fired steam engines in service was dropping. It wasn't really interstate transportation that was dropping, it was being replaced by diesel trains and trucks, but I'll bet Steam Engine repairmen were seeing wage cuts. What's happening to teachers' salaries? Doctors' and nurses' salaries? Local government workers' salaries? Telephone workers' salaries? Meanwhile, look at the price inflation. What did your last trip to the grocery store cost you? What's your cable bill look like? Water bill? Any kids in college - what do their costs look like?

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