First, from the gov't, the key part of the incomes report that Bloomberg ignores:
real DPI fell 0.1%.
Next, courtesy of edegrootinsights.blogspot.com:
Economic spin reaches only so far.
A Massachusetts employment organization has canceled its annual job fair because not enough companies have come forward to offer jobs. Richard Shafer, chairman of the Taunton Employment Task Force, says 20 to 25 employers are needed for the fair scheduled for April 6, but just 10 tables had been reserved. One table was reserved by a nonprofit that offers human services to job seekers, and three by temporary employment agencies.Source: usatoday.com
Nice pick-up, Eric.
Combine the above with the drooping real income status of Americans and you can see that stagflation is here. It is not "coming". It is here. What the future holds will be known in due time. I expect that until "inflation" becomes public enemy number one, investments should continue to be oriented to sectors that "benefit" from it rather than cash, bonds, or defensive stocks.
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