Business

Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke.

In the months since President Trump was elected consumer and business confidence have soared, and the stock markets have, too. Many are betting that much-needed supply-side tax reforms and deregulation would be rabbits that Trump would pull out of his hat. But, economic growth remains tepid, and political storm clouds are gathering in Washington, D.C.

Another month, another increase in minimum wage jobs such as healthcare and education, which is hardly a surprise but this time an unexpected source of hiring emerged: the government.

Bonds and Bullion are down.. but following the better than expected payrolls print, stocks and the dollar (JPY and EUR weakness) are jumping higher as markets celebrate The Fed's ability to tighten financial conditions further (and ignore The Fed's fears over bubbles)...

Stocks are up...

The Dollar Index dipped on the report then ripped back higher...

But Bonds are extending their losses...

And Gold is getting hit...

As a reminder...

Authored by Mike Shedlock via MishTalk.com,

Time and time again, the Fed sows seeds of the next financial crisis in actions it takes to mitigate the previous financial crisis that it caused.

Have we reached that point yet?

The Guardian reports Central Banks Raise Alarm Over New Crash After Steep Rise in Lending.

Yesterday's "bullish" slump in inventories (and record demand) was offset by a resurgence in US crude production and along with Russia's lack of enthusiasm for more production cuts, is weighing heavily on oil prices this morning

Today's rig count data will be a key catalyst for signals that US shale production growth may be topping.