Signs of the booming economy that a trade war could derail

Fears that President Trump is launching a trade war had the markets falling last week. Let’s hope those fears prove false,🐼 because the economy otherwise seems poised for the strong growth that t꧋he nation needs.

Some of last week’s good news:

• Thanks in large part to the GOP tax cut, Americans got🐈 some serious extra scratch in their pockets in January. In the biggest gain since April 2015, real disposable income grew 0.6 percent from the month before, the Commerce Department reported Thursday. The first month under the new tax law saw a $30 billion increase in one-time bonuses and a $115.5 billion drop in personal taxes.
• Jobless claims plunged to a 49-year low, the Labor Department reported, down by 10,000 to 210,000 in the week ending Feb. 24. That’s the best showing since December 1969.
• US manufacturing in February expanded at the fastest rate since 2004. And the Institute of Supply Management suggests more growth is ahead, as “all indications are that [consumer] demand will continue to grow,” says ISM’s Timothy Fiore.
• The nation broke a 47-year record in crude-oil production in November, the Energy Department announced: The month’s 10.057 million barrels per day beat out the November 1970 record of 10.044 million barrels per day. December brought a slight dip to 9.949 million, but the upward trend should continue unless prices collapse.

The economy is starting to seriously hum; Trump should think carefully before 🐻messing with his most important achievement.