JOB OPENINGS HIT RECORD - JUNE 2017

There are more signs of a good economy (also see : Taxes: America Versus The World.*)

The number of openings was at 6.2 million on the last business day of the month, a record high, the report from the Labor Department said. This represents an increase from 5.7 million on the last business day of May.88
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The Labor Department noted that the hiring rate was little changed at 3.7 percent in June, representing both total private and government hiring. Hires decreased for educational services by 29,000, but were little changed for all other industries.

We may be getting to a level where consumers can't keep up their pace of aiding the economy, however, as credit card debt is also at a record high.
"America's credit card balances have never been higher, but there's no reason to think they won't just keep climbing," says Matt Schulz, CreditCards.com's senior industry analyst. "Combine that with steadily rising interest rates and you have a potentially volatile mix."***

The credit card debt is the only blemish I see for the foreseeable future (but it could go higher), other than President Trump  be able to talk down the economy with his statements like attacking Northern Korea with a  "fire and fury like the world has never seen"****   Oh the nostalgia of it all.  remember "Shock and Awe" back in March of 2003 in Iraq?  Oh, the Good Old Days are here again.  The market was due for some sort of correction anyway.
In the longer term tax reform could be damaging but probably won't happen this year.

* http://stopcontinentaldrift.blogspot.com/2017/08/taxes-america-versus-world.html
** https://www.cnbc.com/2017/08/08/job-openings-hit-6-point-2-million-in-june.html
*** https://www.cnbc.com/2017/08/08/credit-card-debt-reached-a-record-high-heres-how-to-pay-it-off.html
**** This reminds me that this is the anniversary of the Nagasaki atom bombing.  It is also the anniversary of President Nixon resigning from office and 10th anniversary of the beginning of the Financial collapse (https://www.cnbc.com/2017/08/09/a-former-trader-recalls-the-day-the-credit-crunch-hit-commentary.html).