Stock prices and leaves aren’t the only things falling right now.
Tax collections fell again in September, but the Congressional “Budget Busting Agreement” has spending soaring right into the face of plunging federal revenue.
And I’m here to tell you this: The fall in tax collections is a big factor driving shares and bond prices down.
There may very well be some earnings- or news-driven rallies from here on out, but over the long term, there’s simply not enough liquidity left in the markets for them to go anywhere but down.
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Financial Analyst, 50-year charting expert, finance + real estate pro, and market analyst; published and edited the Wall Street Examiner since 2000.
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