re: Long awaited move DOWN
could be.
but there is still plenty of irrational exuberance at play.
and the casino has several trillion reasons
to keep the tides rising indefinitely.
with corp earnings finally rising again
(pay no attention to carry trade debt, etc...)
the talking head can sell S&P 2600, 2800, 3000 to the masses
until something cataclysmic finally does knock the market's knees out.
seems unclear a DB implosion would cause a crash at this point.
they could just shuffle liability defaults in circles,
bankers protecting bankers,
and bail themselves out with fiat currency dilution
as they always have.
viz, the QE and ZIRP carry trade that built this rally since 2008 lows.
NK nuking Seoul/Tokyo would probably do it.
but hopefully that can be avoided. :-(
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