The US Government publishes lots and lots of economic data, much of it conflicting, and much that's highly suspicious. We know that the Household Income data released this week was suspicious, but I could not quite figure out what the problem was. I had surmised that it was due to an increase in household size, or a family member getting a first job or taking a second job, hardly a sign of workers and households improving their lot in life. The government's methodology in collecting, repurposing, and reporting the data is so obscure however, that we can't definitively identify the source of the absurd 5.2% reported annual increase in real household income.
The Daily Data Dive: Another Way of Looking at Household Income Shows Virtually No Gain
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David Stockman’s Contra Corner isn’t your typical financial tipsheet. Instead it’s an ongoing dialogue about what’s really happening in the markets… the economy… and governments… so you can understand the world around you and make better decisions for yourself.
David believes the world -- certainly the United States -- is at a great inflection point in human history. The massive credit inflation of the last three decades has reached its apogee and is now going to splatter spectacularly.
This will have lasting ramifications on how governments tax and regulate you… the type of work you and your family members will have available and what you get paid… the value of your nest egg… and all other areas comprising your quality of life.