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Individuals run out of money; can't pay taxes.
#recession #inflation #deflation #taxes #employment #unemployment
Individual income tax payments to Uncle Sam are running almost half a trillion (with a "T") behind same months in FY 2022. Withholdings are way off and claimed refunds are way up. At the same time, the June CPI showed broad-based disinflation and a little deflation. These two results aren't unrelated.
Eurodollar University's weekly conversation w/Steve Van Metre
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RealClearMarkets Essays…
The skinny
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