from Zero Hedge
The latest economic data suggest the US recovery stalled. One look at the Citi US econ surprise index, as of this week, shows the recovery ran out of steam last month. A fiscal cliff is already underway, set to enter the second week on Friday (Aug. 14) as tens of millions of Americans are unemployed and have yet to receive their stimulus checks.
The recovery, so far, is a massive economic sugar rush, entirely a function of the Trump administration on a reckless spending spree. One way the administration can artificially supercharge consumption is through issuing direct transfer payments to the working poor. The extra money has been used by households to pay down credit card bills, put food on the table, and pay housing expenses, while others used the free money to buy automobiles and FANG stocks.