‘Main Street Optimism Is On A Stratospheric Trajectory’: Small Businesses Go All-In On Trump’s Pedal To The Metal Populism
Listen, if you're a small business, you're feeling pretty goddamn "tremendous" about Trump's economy, which is running on a sugar high from late-cycle fiscal stimulus and deficit-funded tax cuts.
Specifically, the NFIB Small Business Optimism Index rose last month to the second highest level in the survey's 45-year history.
“Main Street optimism is on a stratospheric trajectory thanks to recent tax cuts and regulatory changes," NFIB President and CEO Juanita Duggan said Tuesday, adding t
Except that small business payroll growth has lagged overall payroll growth by larger and larger margins over the last ~19 months: https://fred.stlouisfed.org/graph/?g=k9lt
Producer-wise (macro), it’s not lack of gas (money) that’s keeping this Road Warrior movie from running harder, domestically. It’s lack of will to floor the gas pedal (money velocity).
That could change in an instant if the courage to do so ever shows up anywhere outside the White House and raise the virtuous cycle from the dead.
Just joking while the commercials are playing. Back to the show…