Monday, January 25, 2010

Follow the money

Monday January 25, 2010
Issue 3682
The King Report

This week, Q4 Preliminary GDP will be reported. +4.6% is consensus. This, of course, is a lark. US Treasury tax data continues to tumble.

For Q4 2008, US Treasury ‘receipts’ are: Oct. $164.829B, Nov. $144.769B and Dec $237.786B. For Q4 2009, with only Dec not yet revised, receipts are: Oct. $135.294B, Nov. $133.564B and Dec. $218.919B.

Q4 2008 receipts total: $547.384B – and this was when the end of the world as we know it almost ended.

Q4 2009 receipts, subject to Dec. revision: $487.777B, a decline of 10.89% from Q4 2008. Now reconcile this with +4.6% GDP.

This is why the populace is furious.


Anonymous said...

quarter to quarter Vs. year to year genius

Anonymous Monetarist said...

Indeed, on a year over year basis, the US economy grew only 0.1%.

At no time do their hands leave their arms.

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