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More tax related liquidity drain! $118 bln sucked out since June 10.

Summary:
April was a huge hit. May, we started to get some relief, but only in the second half of the month. Then, WHAM! we just got hit again with more gargantuan tax driven liquidity drain. Market cannot rally with this. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/ Mike Norman Twitter https://twitter.com/mikenorman Mike Norman Economics: https://mikenormaneconomics.blogspot.com/

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April was a huge hit. May, we started to get some relief, but only in the second half of the month. Then, WHAM! we just got hit again with more gargantuan tax driven liquidity drain. Market cannot rally with this.



Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader.

https://www.pitbulleconomics.com/



Mike Norman Twitter

https://twitter.com/mikenorman



Mike Norman Economics: https://mikenormaneconomics.blogspot.com/
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

23 comments

  1. Николай Таков

    LP reacted d ryt way, she is Gondess.Uno need of over drama, or over consider ations. She don't deserve *considerationsq. Lp പറഞ്ഞ പോലെ,, ജീവിതം തുടങ്ങിയല്ലേ ഉള്ളു, പഠിക്കട്ടെ.

  2. I think it's clear that things are stabilizing and flat. Maybe someone short term decline, but the big money already dumped their positions.

  3. Dipping the toes in here. Long NAIL, TQQQ, and some REITs.

  4. It petered out? Yeah, it died on the vine.

  5. To get Financial FREEDOM , you have to be making money while you're asleep.

  6. Something tells me the SPY will look like Meta stock at the end of it all. It's either that or we are Turkey. There is only one of those 2 outcomes.🤔

  7. I think you are stating the obvious. The Market Is not going to rally under a Biden Administration. The plandemic wiped out so many businesses and created an oil bottleneck where now it seems like producers are finally catching up to demand. Trump printed alot of money for pandemic relief. Biden is deflating it with a recession. The Eviction and Foreclosure moratorium created a bottleneck in Housing, creating higher housing prices.

  8. Biden bragged about lowering the deficit by 1.6 trillion today. It was during his gas tax holiday speech.

  9. Hey Mike,Thanks for the Consistent content.On the topic of the Gov draining 💰 from the economy,could there at least be a partial benefit to that in that it could taper down some of the inflation even if it's only by a small amount for example 5% even though it may cause issues in other areas such as 💰 velocity,etc.🤔

  10. Biden was bragging today about saving everybody $0.18 a gallon but in the same breath said that he would make up for the loss of taxes that would go towards roads out of deficit spending… 🤡

  11. hit the like button guys!!

  12. TL Money and Finance

    What's your take on fiscal flows in relation to increasing/reducing inflation?

  13. uhmm a 60 dollar crack spread (gouging) ain't doing anybody any favours and should be investigated . so what is the actual cost of a bbl oil

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