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Maxi do you mean this?

"The recent data shows wages went negative this last month. I guess employees decided to give everyone a turkey instead of cold cash this holiday. As for inflation I must repeat myself as I have for the last 5 years. Not only will inflation not be a problem, the ability to buy the deflated prics of cars and houses will be the bigger problem.

Once China and the third world’s insatiable desire to follow the american way fades, so will commodity spikes. In fact there already seems to be a contraction in China at the exact moment the EU is imploding. This will affect American profits and do so almost immediately.

The notion that credit can forever expand and replace cash is gone. The notion that wages will keep up with the commodity price spikes is also an illusion. Somethings got to give. It certainly will not be from the altruistic corporations in the form of higher wages and lower profits.

The end is very near. An impulsive surge like the one we are having is not the start of a new bull market, but rather the final climax. The next time we have a topping-off the swoon should be dramatic."

doc