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Re: 'The Big Noise'- Commodities Relative to Wages *PIC*

National Bureau of Economic Research (NBER)

Announcement dates:

The June 2009 trough was announced September 20, 2010.
The December 2007 peak was announced December 1, 2008.
The November 2001 trough was announced July 17, 2003.
The March 2001 peak was announced November 26, 2001.
The March 1991 trough was announced December 22, 1992.
The July 1990 peak was announced April 25, 1991.
The November 1982 trough was announced July 8, 1983.
The July 1981 peak was announced January 6, 1982.
The July 1980 trough was announced July 8, 1981.
The January 1980 peak was announced June 3, 1980.

Commodities Relative to Wages (chart below)

Commodities are again high relative to wages.
We last used this in the summer of 2008.


Jan 20, 2011
-Bob Hoye
Institutional Advisors
email: bobhoye@institutionaladvisors.com
website: www.institutionaladvisors.com

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Re: 'The Big Noise'- Commodities Relative to Wages *PIC*