largest real wage and benefit increase in years

[Cavalier22]

http://news.yahoo.com/s/ap/20061031/ap_on_bi_go_ec_fi/employment_costs

See guys, the Economy is continuing to fall in line for Bush and his cronies in the election year.  In the summer leading up to the election, the Economy decided to exceed already high expectations.   Along with its good friend Gas Prices, the Economy is sinisterly working to effect the upcoming election. 

[240 is Back]

See guys, the Economy is continuing to fall in line for Bush and his cronies in the election year.  In the summer leading up to the election, the Economy decided to exceed already high expectations.   Along with its good friend Gas Prices, the Economy is sinisterly working to effect the upcoming election. 

Are you being sarcastic?

Oil was produced at an artificially high level to lower prices.
Gas prices dropped the last two months as a result.
Economy jumped greatly because nearly every US fim benefits from unexpected lower fuel costs.
Firms can pay more wages and give more hours to employees when their operating costs (gas) are down and sales are up.
Yahoo.com will note these trends, as we see above.

Watch and see.  It was alrady quietly mentioned that OPEC will be "correcting" their output levels on Nov 1, 2006.  Give it a week to kick in, and you will see gas prices start to rise again.  As this happens, operating costs for firms go up, and they reallocate their funds, and wages and hours drop again to pre-artificial levels.  Consumer confidence drops, Dow drops.


It's as if you guys didn't see Jan 2, 2001 unfold.

[MKD]

Although popular to always blame oil policy for economic issues during election time, oil is only one part of the economic equation.  If you really want to delve into how elections are affected by economic policy you should research the relationship between the Federal Reserve and the current administration/legislature.  The Chairman of the Federal Reserve is called "the most powerful man in Washington" because his influence over the American economy is unmatched. 

If interested, review the relationship between President Nixon and Federal Reserve Chairman Arthur Burns.  It is widely believed that Burns' economic policy allowed Nixon to win the 1972 election.  Conversely, Alan Grenspan is sometimes blamed for George H.W. Bush losing re-election in 1992 because he allowed the economy to falter. 

Oil policy is always fun to blame, but the Fed is really the driver.