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Sunday, April 16, 2006

Economic "Good" News

The talking heads on the TV just can't understand why Americans are such Gloomy Guses. Haven't they read the Wall Street Journal? Bush is doing a wonderful job! After all, he American economy is going great! Stock portfolios have rebounded, corporate profits are at record levels! Why all the sad faces?

Well, this might explain it.

First, corporate profits:

Second, wages:

(If you correct for inflation, the second graph not only becomes flat, it drifts a bit into negative territory.)

Not everyone is sharing in this economic boom. Can you guess who is being left out?


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