Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: mishedlo who wrote (21308)	1/13/2005 4:11:08 PM
From: russwinter	Read Replies (1) \| Respond to of 116555

I have a different spin on this now. You remember when I was trying to use the DST on taxes withheld fms.treas.gov to try and guess job counts, and it always seem to overestimate? Well, I finally figured out why it wasn't working, and it's my Bully -non-Bully theory. While actual job "counts" are stagnant, and wages for Joe Sixpack are punk, Bully and other "friends of easy Al" are cleaning up on bonuses, salaries and other easy money fees and scams from the big bloated, maladjusted, credit induced sectors of the economy. That's why you see stores like WFMI (really more a museum than a grocer) selling at 45 X Bully Bubble earnings, and COH, CCL, and SBUX, and on and on at absurd valuations. From the beginning of the October quarter to now the DST numbers are up a whopping 6.7% yoy. That's Bully I'm sure (plus some wage inflation showing up for Joe Six). Things have never been better for Bully, plus he gets to borrow with impunity. That's why CFC isn't working yet, Bully's still loose. I think this part of the "labor" story gets missed, although finally folks like Contrary Investor are figuring it out. It took me a while too.