Monday, January 25, 2010
Follow the money
Monday January 25, 2010
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.