by Bill O’Grady

At the time of this publication the budget situation has not been resolved, although it appears that both parties are backing away from the default abyss.  However, given that these crises seem to come once or twice a year, it seemed appropriate to weigh in on the geopolitical impact of the intractable problems of American government.

In this report, we will discuss the evolution of the American political system over the past century, examining how these changes have affected governance.  From there, we will move to how the uncertainty surrounding American governance affects global geopolitics, including a discussion of what we believe is the root cause of this turmoil.  As always, we will conclude with market ramifications.

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