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Unit Labor Costs Miss For 3rd Quarter In A Row (For The First Time In 12 Years)
A modest 1.4% rise in unit labor costs in Q3 was dramatically below the expected (and hope-strewn) 2.5% growth and means unit labor costs have missed expectations for the 3rd quarter in a row for the first time since 2003. Perhaps just as bad, historical (weak) data was revised notably lower but of course, as Yellen and Fisher have made clear - none of this matters for the data-un-dependent Fed's December decision.
Not exactly escape velocity...
Charts: Bloomberg
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Bullish for the markets...AGAIN!
Labor costs as a smaller and smaller component of production. Corporations are in heaven, as long as the redistributionists keep giving people the money to buy...every fucking dime added as more debt, more liability for either the consumer or the taxpayer.
Exactly!
Drive down wages in every way imaginable, fully fund/expand the welfare system to put money in the "Consumers" pockets...label the consumers "ticks and leaches" to stir up the "voters" and keep them busy fighting over Right/Left-wing policies while the few at the top enrich themselves.
It really makes no difference if the un-fed runs across a number they don't care for, they'll just change or ignore it.
The un-fed coat of arms should be the three monkeys...Hear no evil, See no evil, Speak no evil...Just do evil!
The FED will raise rates when the PRESSURE from their PEERS becomes unbearable...
People, businesses, governments suffering...does not matter...but if the FED's "brilliance" comes into question,publicly, by it's peers...can't have that...
Need MOAR Hopium!
Moar people are being pushed off onto the exchange.
This is exactly how, NY Fed head, William Dudley, wants the markets to react.
Bad news causes the markets to go higher,
Let me be clear, blah, blah, blahbitty blah...
The destruction of the United States of America is in full swing and fully supported by THE NEW WORLD ORDER! It's that simple. I've been watching it progress for 48 years and it's now like a bullish chart that is going straight up! WE ARE LETTING IT HAPPEN, PERIOD. TRUMPH IS OUR LAST CHANCE, I wouldn't be surprised if they kill him, or at least try.
Section8, EBT, WIC, health care subsidies, EITC, phone subsidies, child care subsidies. Few are aware of how extensive the programs are that need to be in place to keep poor working families from rioting in the streets.
Suck it, plebes!
Regards,
Davos
>none of this matters for the data-un-dependent Fed's December
>decision.
I *wish* they were data-un-dependent.
But they still use "data" as reasons to continue ZIRP, even though it has very little linkage to employment or wages, and (as per Bill Gross yesterday) may *cause* low wage growth as companies put cheap capital into financial games instead of production.