Semi-Daily Journal Archive

The Blogspot archive of the weblog of J. Bradford DeLong, Professor of Economics and Chair of the PEIS major at U.C. Berkeley, a Research Associate of the National Bureau of Economic Research, and former Deputy Assistant Secretary of the U.S. Treasury.

Sunday, December 18, 2005

Daniel Gross watches Treasury Secretary John Snow say that--up until some moment that is not yet here but is coming soon--the economy has not been generating good news about real wages:

Daniel Gross: SNOW FALLING ON CEDARS: Yesterday, John Snow said U.S. workers could expect pay increases in 2006.

WASHINGTON (Reuters) - Treasury Secretary John Snow said on Monday that a steadily expanding U.S. economy has reached a point where it should start generating good news about incomes and jobs. "We're about at a tipping-point here where we're going to see much improvement in wage rates and compensation," Snow said during an interview on CNBC television....

Notice the double conditional -- "about at a tipping point."

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