This is a biggie indicating recovery is developing (Bernanke manipulated though it is)
According to the BLS, hours worked in Q4 2011 increased by 2.9%.
Get this:
The increase in hours worked is the first annual increase in the measure since 2007.
And this:
In the manufacturing sector, there was a 2.0% increase in hours; this is the largest annual increase in manufacturing
sector hours since a 2.3% gain in 1994.
Employers tend to give more hours to their current employees at the start of a recovery versus hiring new employees. The new hires come next.
Bottom line: Keynesians, such as Paul Krugman, had no clue as to the recovery that was going on in Q4. They watch data and have no business cycle that can signal to them what is going on before the data comes out.
Next coming major price inflation that they are clueless about.
"Bottom line: Keynesians, such as Paul Krugman, had no clue as to the recovery that was going on in Q4. They watch data and have no business cycle that can signal to them what is going on before the data comes out."
ReplyDeleteBut you are waiting for data to come out to signal you what will happen, namely, data on money printing. You're a data watcher just like they are.