Congratulations Workers: You Make 0.3% More Per Hour Than One Year Ago

In real terms, workers make 0.3% more per hour than a year ago, assuming one believes the BLS CPI Statistics.

Once again, we can trace this back to Nixon Shock.

Real Compensation Per Hour

Trade Imbalance

Median Home Prices

Real GDP vs Total Credit Market Debt

The Fed discontinued the total credit market series in the fourth quarter of 2017.

Total; credit market debt was roughly $1.7 trillion when Nixon closed the gold window. At last report it was $68.6 trillion.

It takes massive amounts of increasing credit to produce relatively trivial increases in GDP.

Gold vs Faith in Central Banks

Everything Under Control?

If you don't think so, buy gold.

Mike "Mish" Shedlock

Comments (10)
No. 1-10

Not including public union employees, of course.


Impossible! Yesterday the CEO of the WH council of economic advisers said that Trump has done great for the workers. He even gave the example of the Walmart lowest paid worker take home an extra $4k a year.


Well I guess this won't make the MSM either... they're too busy reporting Trump fluff.


there will be no meaningful recovery.