Today, even a modestly slowing economy keeps us in what is effectively an unsustainable boom, with lots of desire to spend while the labor market and industrial base are tight. This backdrop is unlikely to change much in the coming months. The Fed is likely to ease a bit given its easing bias, which may add a bit more borrowing into the mix. Households and businesses will keep spending, because they’re spending from incomes and balance sheets. The federal government is likely to keep high spending no matter