Friday’s Business News

Growth in Total Incomes, Wages + Salaries

Total incomes and wages and salaries have been growing much faster than inflation:

6.0% – growth in total incomes – 10/06 – 10/07
5.2% – growth in total salaries and wages – 10/06 – 10/07

3.5% – total consumer inflation rate, 10/06 – 10/07

For obvious reasons the chances the liberal media will report those numbers to the general public are somewhere between zero and nyet.

Trade Policies + China

Here’s a surprisingly-good article — especially by AP standards — regarding trade policies, U.S.-China relations and connected items.

As they say, read the whole thing.

White House Econ Forecast

Here’s a link to the official text of the administration’s revised economic forecast for 2008 and beyond.

The media’s reporting of that item was so agenda-driven as to be utterly useless.

Markets

Stocks were volatile this week. Those who were leveraged short apparently felt the need to cover.

Hopefully the markets will resume their downward corrections and hopefully the Dow will drop all the way back down to 12,000. That sort of action finally, mercifully, would clear out the weak links. If it doesn’t happen, well, that’ll be okay. There already are several obvious buying opportunities: Indymac Bancorp, Citigroup, Countrywide Financial, etc. Plus there are a multitude of cheap bonds and cheap real estate opportunities in which to invest.

The Fed

Here’s a link to a transcript of Fed Chairman Ben Bernanke’s speech from yesterday.

Read the whole thing.

The Camel In The Room
Red Rain