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


To: UncleBigs who wrote (72665)10/23/2006 3:13:06 PM
From: Mike Johnston  Read Replies (2) | Respond to of 110194
 
Job market is still strong, because real wages in the middle are going down.

When the real price of labor goes down while nominal sales are strong, businesses can afford to hire.

Of course, wages and spending at the top of income scale are going through the roof and it masks a lot of weakness at the lower end.