Republished from Dr. Ed Yardeni’s blog: “Dr. Ed’s Blog”
Is Gridlock bullish or bearish? In the past, it’s probably been bullish more than it has been bearish. After all, our constitutional system was designed by our Founders to disperse power among the Executive, Legislative, and Judicial branches of our government. Congress was designed so that special interest groups more often than not would be stymied from achieving their legislative agendas by resistance from “factions” with opposing interests. In Civics, Gridlock …