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Tim Mazanec
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President and Founder of HedgeForward LLC which offers the Directional Trading System managed accounts program. The overall goal of the Directional Trading System is to achieve account appreciation by positioning in and trading the global markets using futures contracts. The global markets... More
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  • Oct budget 0 comments
    Nov 10, 2011 2:27 PM
    Quick Treasury budget update:

    Tax receipts are up and that is a good sign for the US economy.

    The October update to the chart below doesn't look like much but it does show the continued strength of Individual withholding taxes which is now running at +14.3% y/y (total individual withholding taxes ytd).




    Maybe a table for the past few Octobers will show the result a bit better:

    Oct. 2011: $94.6b
    Oct. 2010: $80.8b
    Oct. 2009: $74.4b
    Oct. 2008: $94.0b
    Oct. 2007: $99.6b
    Oct. 2006: $89.8b

    At least for the month of Oct the trend is headed in the right direction.  We're already back to '08 levels and it is not much of a forecast for a record October receipt-wise come 2012, and likely to be repeated often in the Romney years.

    Imagine where the markets would be if politicians could control public spending in industrialized nations!

    This report is for your information only and does not constitute investment or business advice or an offer to buy or sell securities.


















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