HT to Sykes, king-of-the-hill broadcast blogger...
The J-S ran an article noting that mean wages in SEWisconsin are "flat," which allegedly confuses/confounds the "experts." (http://www.jsonline.com/bym/news/aug05/345648.asp?format=print)
That's because "experts" have agendas. The Governor's "experts" want better numbers because they want the Governor to get the credit. After all, Jim Doyle creates 'good-paying' jobs, right? (Yes, he does--note the TEACHERS' median in the accompanying chart.)
The other "experts" can't understand it because the USA has officially entered the Permanent Workers' Paradise of Global Free Trade. Curmudgeons like yours truly were among those who frequently commented (in vain) that "Free Trade" with slave States such as China, and the concomitant demolition of industrial jobs, would have a negative effect on incomes.
But never mind that little detail. Unprecedented second-mortgage financing led to increases in consumer spending (thus, GDP)--so all's well, right?
Well, the housing bubble is going to burst, and anyone that has a variable rate 30 year mortgage is S.O.L. hope you like your houe, were gonna bury you in it...
ReplyDeleteGM/FoMoCo/DamChry. are going to be pulling back on production heavily for the next 3 to 5 years (my prediction), now that it's no longer about "the deal"(you idiot Lee, see my blog).
And yes, China.
well, at least teachers will do well.
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