Global Growth Sputtering
Steen gives four reasons global growth is sputtering. Her are some of his charts.
Federal Tax Collections
Stock Market Breadth
Apple Too Successful
Price of Money Rising Fast
Tax Collections and Homebuilders
It's understandable why the Trump tax cuts impacted corporate tax collections. But if one truly believes huge hiring is in place, personal tax collection is another matter.
Homebuilders are a disaster as has been recent housing data.
And the global economy does not exactly look robust.
China did not diverge from the global economy in 2008 and the US won't in 2019.
Mike "Mish" Shedlock