Real time daily Federal tax collection data compiled from the Daily Treasury Statement, and slightly delayed data from the Monthly Treasury Statement, are probably the best indicators of the US economy. They're actual, total monies taken in by the Internal Revenue Service for a variety of taxes. They are real time or near real time. They are not based on surveys. The data isn't seasonally, or otherwise statistically manipulated. This data invariably correctly tells us where the US economy currently is, and how it is trending.
Federal Tax Collection Data Shows US Economy Persistently Weaker
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David Stockman’s Contra Corner isn’t your typical financial tipsheet. Instead it’s an ongoing dialogue about what’s really happening in the markets… the economy… and governments… so you can understand the world around you and make better decisions for yourself.
David believes the world -- certainly the United States -- is at a great inflection point in human history. The massive credit inflation of the last three decades has reached its apogee and is now going to splatter spectacularly.
This will have lasting ramifications on how governments tax and regulate you… the type of work you and your family members will have available and what you get paid… the value of your nest egg… and all other areas comprising your quality of life.