Zeev's Turnips Patch-No Politics (ZEEV)

[TJ Parker]

well hmm. i can't quite digest all gov statistics and separate the wheat from the chaff. however, taken on the face of it, i'd say (1) increases in revenues are good, and i think everyone is just saying "stabilization" in tech, not growth per se, and (2) increases in earnings are too hard to analyze as an indicator of recovery: employees are cut, tax benefits factored in, and (and here's the gov statistics part) productivity in general is increasing faster than earnings are growing.

now i don't know the right formula to plug all this into, but i'd think that we have to see profits growing faster than productivity before we see much hope of new demand in employment; and without the latter, the employment picture could just drag us down again ...