What if the 2000-2017, 17.6 Year Market Cycle, is a Big Macro Top ?
I have said and still contend that that is a real possibility. A number of macro factors weigh into that case.
1) The baby boomer generation is selling off assets as they retire.
2) Globalization brings cheap wage pressures to everyone.
3) Global Central Bankers have refused to allow economies and markets to work freely.
4)Low interest rates used as a cure, rather than a short-term stimulus, have suppressed the savers.
5)Central Bank led monetary policies have squashed the bottom half of the population, the portion of the economy that spends 100 % of their income.
6) And lastly, in the US, Congress has been ineffectual in handling the Fiscal issues that are at the heart of the rollover. Why else would Trump and Sanders be polling well, people are not happy.