America's Economic Sugar High Is Wearing Off

No binge ends well. Whether from junk food or alcohol, initial euphoria eventually gives way to a crash, and often self-loathing. The same is true for too much stimulus. Jacked up on tax cuts, a $1.3trn spending bill, easy monetary policy and a weakening dollar, the US economy has enjoyed its own version of a 'sugar high,' says JPMorgan. What's worse, they warn: the crash is coming.