Markets and small business optimism continue to climb under President Trump, aided by deregulation, tax deals, and stimulus programs. While markets and employment have grown, real wages have hardly made gains, spelling out a spike in mortgage and subprime auto loan delinquencies. Added to the number of populist parties wanting out of the Eurozone, turmoil is looming over the commodity and equity markets, further pushing the prices of safe-haven assets such as gold.