This headline says it all. Wall Street and the real economy are at odds. If workers “wages get too hot” ie people start making more money, the market will drop. Wall Street is a parasitic casino that sucks money out of the real economy, by that I mean manufacturing, construction, public works, and the service sectors.
Friday’s nonfarm payrolls report for September comes at an important time for markets: As inflation fears again pop up, the government’s measures of not only job creation but also wage growth could provide important signposts for what’s ahead.