It’s an Old World After All

(1) Is global slowdown all Trump’s fault? (2) Significant slowing in world production growth since early 2018. (3) Global PPIs and commodity prices confirming widespread slowdown. (4) Too much stuff: peak demand for gadgets, autos, and oil? (5) The global economy is aging and experiencing EDR disorder. (6) Lots of structural trends weighing on global auto sales. (7) US household employment shows boom in full-time jobs. (8) No stagnation here: Real wages up 1.0% per year on average since early 1990s! (9) More and more of capital spending is on high tech.