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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (10216)	8/6/2004 9:03:23 AM
From: russwinter	Read Replies (11) \| Respond to of 116555

Completely supports my wage inflation points as hourly wages up 0.3%. Message 20371167 DTS is showing substantial wage gains going into August too. The first of the month is a big payroll date, and up big. It's the whole "Two Americas" argument. No job count creation, but employers must pay their existing employees more. I'll bet a bunch of this kicked in mid-year: govt workers, labor contracts, etc. Watch productivity, another bogus Fed theory, as it will get cratered now. Diagnosis: Weak economy, wage inflation joins commodity inflation. If the USD weakens here, this will get even worse. "Productivity" going into the crapper.