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
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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