An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Monday, October 12, 2015
Early Treasury data not encouraging for economy, stocks, dollar
We're only six statement days into the new fiscal year, however, Treasury data is not encouraging. Employment tax deposits collected by Treasury are 5.5% below where they were at the same time last October and total withdrawals (spending) is 9.1% below last year.
Short dollar. Stock market upside limited from here as I said.
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