The Rising Influence of Rising Affluence

[10nisman]

What if the "expected recession" never happens (or is so mild that it's a recession in name only)?

Key isn't whether there will be an "economic" recession but an "earnings" recession. Top market strategists are forecasting next year's S&P 500 earnings between $180-$210, apply a reasonable multiple 15-18x = 2,700 - 3,800. It's going to be difficult to avoid an earnings recession next year, IMO.