Number 1 Bearish Factor, Republicans in Congress
This is not a new revelation by us for this phase of the 2000 to 2017 economic cycle. You can look back to our comments in 2009 when we were advocating a much bigger infrastructure buildout that would have put money into the hands of the middle class. The Republicans were successful in stopping most of that congressional effort.
Bernanke to make up for little congressional effort, and instead of following a stable monetary policy, provided 3 Trillion dollars to try a trickle down asset bubble that pushed stocks higher but did not get the needed results in employment and viability for the middle class. The chickens are about to come home to roost. Bernanke is leaving and the Republicans are showing even more hatred of Obama. What are we left with is a real problem.