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Reports of Economy’s Demise Greatly Exaggerated

Lately the Wall Street establishment and its media handmaidens have been touting a weakening economy. That’s because they are focused on seasonally adjusted data that is simply wrong, due to the faults inherent in the seasonal adjustment process (See Initial Claims Actually Worse Than Reported, But Did Not Break Trend of Improvement).

I have asked several of them, if the economy is weakening how do they explain this trend.

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Federal Withholding Taxes Last 3 Years - Click to enlarge

Federal Withholding Taxes Last 3 Years – Click to enlarge

So far, I haven’t heard back from anyone.

For more on this see: Is The Economy Really Slowing? Not According to Federal Revenues.

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Lee Adler

I’ve been publishing The Wall Street Examiner and its predecessor since October 2000. I also publish LiquidityTrader.com, and was lead analyst for Sure Money Investor, of blessed memory. I developed David Stockman's Contra Corner for Mr. Stockman. I’ve had a wide variety of finance related jobs since 1972, including a stint on Wall Street in both sales, analytical, and trading capacities. Prior to starting the Wall Street Examiner I was a commercial real estate appraiser in Florida for 15 years. I was considered an expert in the analysis of failed properties that ended up in the hands of bank REO divisions, the FDIC, and the RTC. Remember those guys? I also worked in the residential mortgage and real estate businesses in parts of the 1970s and 80s. I have been charting stocks and markets and doing analytical work since I was a teenager. I'm not some Ivory Tower academic, Wall Street guy. My perspective comes from having my boots on the ground and in the trenches, as a real estate broker, mortgage broker, trader, account rep, and analyst. I've watched most of the games these Wall Street wiseguys play from right up close. I know the drill from my 55 years of paying attention. And I'm happy to share that experience with you, right here.