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Federal Revenues

(Image Courtesy: Scott Grannis, The Calafia Beach Pundit)

Scott Grannis writes: “US Federal revenues have been rising at a 11.3% annualized rate for the past five years, and in the past 12 months they have increased at twice the rate of nominal GDP growth. Individual income tax receipts grew 10.5% in the past 12 months. Taxes don’t lie, and they don’t grow like this if the economy is sick. Soaring tax receipts at the very least say that there are a lot of things going right in the economy.”

So WTF is going on with all the negative market sentiment? If you look at the current bull market as having been born in 2013 when it finally overtook its pre-recession highs, instead of the more popular suggestion of March 2009 when the recovery began, then this is a very young bull indeed…  

And if you’d like to read more WTF Market Moments, then check out How to Turn Your Kids Into Spoiled Little Bastards with a Sense of Entitlement here.

 

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