Zeev's Turnips Patch-No Politics (ZEEV)

[federal reserves]

Inflation

CRB industrials are smoking higher & job claims dropping now.

Wage growth tame in last report, as hourly earnings even fell. Here in CA the grocery store clerks are on strike because of benefit take aways on medical costs.

Interesting pattern developing, higher costs for the basics of life and wages drop.

PPI rising at a 4% annualized clip now.

So inflation in commodities due to world demand, wages tame
and falling in US because of outsourcing/globalization.