WSJ: State, Local Tax Revenues Decline 7%

From Wall Street Journal

State, Local Tax Revenues Decline 7%

State and local tax revenues fell 7% in the third quarter of 2009 from a year ago, the Census Bureau said in a report underscoring how the economic downturn is stressing government collections.

Sales taxes declined 9% to $70 billion in the third quarter compared with the year-ago period, the Census Bureau said. Income taxes plunged 12% to about $58 billion. Together, sales and income taxes make up roughly half of state and local tax revenue.

These revenues continue to fall and will lag the recovery as the article points out. But a little more moderation in the pace of decline would would be nice to see as a confirmation of a more robust rate of recovery.

Mark Perry Asks: 2000 pages is it the new 25 pages

Mark Perry at Carpe Diem
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Mark Perry Asks: 2000 pages is it the new 25 pages

Mark Perry at Carpe Diem
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Hansen: Where Did These Guys Come From

Victor Davis Hansen on the administration and the imposition of leftist policy by any means and regardless of public lack of support.

Without qualification (remember we are in a new age of transparency and ethical reform) votes are bought with hundred-million-dollar earmarks; the attorney general predicates judicial action on the political ramifications of indicting or not indicting; federal bureaucracies (watch the EPA if cap and trade stalls) are devoted to the new Caesar rather than the letter of the law.

Read it all

Donald Coxe Weekly Conference Call Link

Mr Coxe conference call link.

Jeff Saut

From Jeff Saut at Raymond James:

The call for this week: Since mid-November the S&P 500 (SPX/1106.41) has tested, and held, the 1085 level four times. Also, since the March “lows” the SPX has ALWAYS found support at the lower Bollinger Band and rallied. Last week both of those levels were “tagged” and successfully “held” (see chart). Moreover, the “tight consolidation” (<2% range) over the past four weeks has allowed our internal energy measuring indicators to reenergize, hopefully setting the stage for a decent rally. Given the aforementioned metrics, as well as the year-end performance anxiety money managers are feeling, we think the SPX is going to break out above the 1115 level so often mentioned in these missives. Reinforcing those views are the good folks at Bespoke who noted, “(While) the pace of economic indicators exceeding expectations has slowed considerably, (last) week saw a reversal in this trend. Of the nine reports released, only two were weaker than expected. If this continues, the odds of breaking out of the recent range to the upside increase considerably.” Obviously, we agree.

Heatmap of the US market from a nice site: FINVIZ

From FinViz.com a Heatmap of the market.

Sorry About That?

I have been forced to add word verification to my comments form because of two persistent asswipes that are selling viagra and trying to get people to send them money for some get rich quick thing ( read scam ). Probably a congressman.
In any I case i am sorry it is necessary and hope more of you will comment n future.

Dec 11 Don Coxe discusses Gold action

 Don Coxe in December 11 conference call.

Mark Perry: About Those "Tax Cuts for the Rich"

from the American Enterprise Blog go read the rest and see the other charts.

Carpe Diem:Climate Change Propagandistic Lockstep, Delusions of Intellectual Adequacy, and Messiah Complexes

Very good essay, my favorite part:

Never in peacetime history has the government-media-academic complex been in such sustained propagandistic lockstep about any subject [climate change].

A CRU e-mail says: "The fact is that we can't account for the lack of warming at the moment" -- this "moment" is in its second decade -- "and it is a travesty that we can't."

The real danger of the liars of Climategate

Ken Green outlines the real harm done by the climate"scientists"  as reealed in their emails.

The Motley, Motley CRU (Climatic Research Unit) Has Given All of Science a Massive Black Eye

I especially agree with this:

The climate scientists at the CRU have given not only climate science, but all of science, a massive black eye, and should the public lose faith in science, a great deal of the responsibility will accrue to them. The scientists involved in the Climategate scandal should be permanently removed from any position in which they can influence climate policy. They should be excluded from peer-review panels, banned from participating in the IPCC process in any capacity, and kept far away from editorial positions at journals. Their data and methods must be made absolutely transparent and available for outside inspection.

Friday dec 4 2009 Don Coxe

The link to Don Coxe today.

Mark Perry: Help Wanted No Real World Experience Required

Mark Perry post on the business experience of Obama's cabinet compared to past presidential cabinets. This is not very confidence inspiring if one is a fan of small government. Also explains the disdain for business in this administration.
Chart from Mark Perry: