Courtesy of Lee Adler of the Wall Street Examiner
[This is a syndicated repost courtesy of Confounded Interest – Online Course Notes For Financial Markets. To view original, click here.]
I thought one of the reasons for the massive Federal Reserve intervention back in late 2008 was to increase wages and inflation.
Of course, the unemployment rate has fallen since late 2008 which is great news (except that the U6 unemployment rate is still high at 10.8 percent).
But the real rub is that median real wages are DOWN 3.4 percent since Q1 2010 when the unemployment rate started to fall.
What we have are asset PRICES being whipped up as median real wages deflate.
*Thanks to the wizardry of Jessie from his Cafe Americain blog!
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