When it comes to reading the economic tea leaves there is no better data source than the US Treasury. Unlike the imputations, birth/death guesstimates and seasonal maladjustments of the BLS jobs data, the millions of US businesses which pay Federal taxes, including withholding from their employees, have a stubborn tendency to remit taxes only on work and production actually performed.
Recession Alert From The US Treasury----Tax Collections Have Slumped Big Time
You need to login to view this content.
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.