The Donald was at it again in Wisconsin this weekend, reiterating his patented boast that the US economy is booming like never before.

We’re now the No. 1 economy anywhere in the world and it’s not even close,” he said on Saturday night at a rally in Green Bay, Wisconsin.

“At the end of six years, you’re going to be left with the strongest country you’ve ever had,” he said.

We beg to differ, profoundly. The debt- and bubble-freighted US economy is actually running out of gas after a long, artificial cycle of tepid expansion; and so far the Donald’s Trade Wars and fiscal borrowing binge have only piled more debilitating baggage on America’s deeply impaired economy.

In fact, the Donald is badly betraying Flyover America because his mindless Fed-bashing virtually guarantees a repeat of the 2008 stock market blow-off and subsequent C-suite fostered recession.

That is, by essentially shutting down the Fed’s belated normalization campaign, and forcing the Fed head into his humiliating, pusillanimous Powell Pivot, the last feeble barrier against a blow-off top has been removed.

Literally, the robo-machines and feckless buy-the-dips day traders have been unleashed to keep pushing the stock indices higher until the last lemming hits the bid on his way over the cliffs. But once the 2019 version of Wall Street’s post-bubble flameout ignites, there will be no stopping it because there is nothing but bad facts, troubles and headwinds ahead – all of which are being insouciantly ignored in these final moments of Fed-enabled mania.

Indeed, it’s hard to imagine how our clueless central bankers could have done anything more to crush those very ingredients – two-way trade, risk premiums, meaningful carry trade costs and short-seller skepticism – that keep financial markets disciplined, balanced and sustainable.

To be sure, we believe that the Fed was already way, way too late in its belated attempted to get interest rates off the zero bound and shrink its hideously bloated balance sheet toward something that might be vaguely described as normalized. But by capitulating to the Donald’s angry tweets and Wall Street’s juvenile hissy fits at the end of 2018 just when financial discipline became acutely imperative, the Fed catalyzed the worst possible development at month #118 of a business cycle that is literally gasping for air.