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To: Willie Green
Ummm. There was a pretty heavy qualification in Greenspan's remarks..."the last year".

Aside from that, one would expect that the pay for jobs would be at the lower end at the beginning of the cycle compared to the end of the cycle. That's nothing unusual.

28 posted on 08/02/2004 6:16:50 PM PDT by lepton ("It is useless to attempt to reason a man out of a thing he was never reasoned into"--Jonathan Swift)
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To: lepton
Aside from that, one would expect that the pay for jobs would be at the lower end at the beginning of the cycle compared to the end of the cycle. That's nothing unusual.

Actually, it IS unusual--as is pointed out in some other posts, above.

This particular income-recovery cycle is stretching waaaayyyyy longer than most others, and providing much less in earned wage than others, as well.

There are only two factors which have contributed to a halfway decent cashflow picture: low mortgage rates (to date) and tax reductions.

OTOH, rates are already on the way up and scheduled for another bump in 10 days or so--and the tax-deficiency merely puts into bonds what ain't there now in revenue.

31 posted on 08/02/2004 7:14:42 PM PDT by ninenot (Minister of Membership, TomasTorquemadaGentlemen'sClub)
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