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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Mark Adams who wrote (1742)	11/1/2003 8:45:58 AM
From: russwinter	Read Replies (1) \| Respond to of 110194

This was discussed in this post: Message 19383764 I'm presenting the numbers as reported on the DTS. You will see withholding on the second page. I use Friday through Thursday for the week for each year. fms.treas.gov These are wages and salaries SUBJECT to withholding. Although it's nice that Uncle is subsidizing consumers (by running up huge deficits and borrowing, robbing Peter to pay Paul), for my purposes I'm interested in the real labor market, what folks actually get paid in their paychecks, not take home pay. Still adding back the 4% (for the tax cut) to the minus 2.8% figure for month, leaves wage earners only 1.2% ahead of last year in terms of take home, and that doesn't even cover the 2-3% increase in the understated CPI. I think the consumer suffering is really going to intensify as he no longer has the refi option available to carry him through. And more layoffs are coming right in the heart of the consumer credit bubble: finance, retailing, homebuilding/construction (with a little lag).