The current state of the U.S. and global economies is unclear. Wherever you look, the data and trends suggest uncertainty. Will the Federal Reserve raise interest rates next month? Will economic growth ever again exceed 2 percent? Is the stock market overvalued and on the verge of another major dip?
I've stated repeatedly that a massive amount of stimulus has been required to generate GDP growth of just 2.0%-2.5% annually since the end of the Great Recession (June 2009). We have further said that the removal or reversal of some of these stimulants will be a tough hurdle for the economy to overcome.