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

To: CalculatedRisk who wrote (63194)	2/2/2007 4:37:01 AM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 116555

Minimum wage is over $7 for one hour work of an unqualified worker. Is the work performed by this worker, worth more than when the minimum wage was $3.5 or $2.5 ??? Personally I do not think so - all what changed is the USD (paper money) was devaluated accordingly and as such the stock market appreciated accordingly, as the value of unqualified work is the same. All those "bullish" comments and appreciation in value of financial assets should be take with many grains of salt as it seems more to be just hogwash and a way for governments to collect more taxes on those elusive capital gains People run in cirles and work hard only to maintain the value of their assets my 2 cents