Optimism abounds across the globe. World economies are finally benefiting from years of easy monetary policy. Tax cuts and spending increases in the U.S. will amplify the already very ample and self-reinforcing momentum which is driving synchronous global growth well above long-term potential levels. Slack has already disappeared or is disappearing rapidly in many economies. The U.S. economy will overheat in coming months. Bill Longbrake counsels in this month’s letter, that one should enjoy the good times now because we know from history that strong economic momentum, when the economy is operating at or above full capacity, eventually leads to recession and correction of the imbalances that build up during the euphoric period of strong growth. Bill Discusses 16 risks facing the U.S. and global economies. He also explains and assesses significant 2018 forecasts.