One of the key reasons that I'm bearish long term on the stock market is the fact that Barack Obama is turning into a disaster and the political risk in the USA is now at a very high level with the extreme right getting more attention than it deserves. I voted for the man and given the alternative at the time I can't say I would take the vote back. However, Obama's failure to even remotely exert leasdership qualities, while behaving like an elite snob will set the course of progressive change in this country back for many years. The linked article says it very well.