Side note…boomers working more than ever…and demographic decline.

And of course, declining births over time…

From title, economic boost from 2016 to early 2017 has worn off. The boost from 2013 stock rally wore off into 2014 and 2015.

See below the surge of 2016 and early 2017 is over. I’ve blown up the area from 2011-on:

Clearly the growth surge of Q1 2017 has worn off already. See how quickly the surge wears off in 2Q-3Q 2017.

A more reliable indicator is the one the Fed uses or ccpi. It has been below 2.0 since March indicating a weak growth economy (similar to 2013-2015). This is certainly not 2005-2007.

Also for info GCPI…high inflation 2005-2008…and below 2.0 for 2013-2016.

The last recovery rally will be the end as the Fed is now raising rates and delinquencies will start to rise late 2018 – early 2019. When  delinquencies rise, Fed will go flat in policy and USD will start to fall.