The “Trump bump” has been dramatic. There was a collective sigh of relief from investors as they watched Obama fly away on Marine One. Maybe, finally, the economy would be allowed to breathe.
Perhaps to some degree. But David Stockman warns correctly that the debt monster looms over the economy and that the debt monster is hungry. If we see a real move up in interest rates that debt, roughly 20 TRILLION dollars, is going to be much more expensive to finance. And that mis amigos is going to be a problem.