The December jobs report on Friday brought another 3.5% unemployment rate and a lot more crowing from the Donald:
“As we begin the new year our economy is booming,” Trump told supporters in Toledo, Ohio. “Wages are soaring, workers are thriving and America’s future has never, ever looked brighter.”
Of course, the Donald’s unabashed boasting should be taken with a grain of salt. That’s because he is essentially taking credit for a positive trending business cycle that he inherited in January 2017 when it was right in its sweet spot at month #90.
The real issue is about what’s percolating down below the surface. What are the forces at work which will shape the coming year and decade ahead?