re: one or two more earnings with taxes boosts before some reckoning
agreed. corp debt still at ATHs and still rising. with consumer disp income dropping.
jobs and wage growth could balance out the latter with time but there seems no interest in addressing corp debt, given CEOs openly announcing tax cut savings going into dividends and buybacks rather than paying down debt...
unsustainable reality. and if the FOMC finally puts on their big boy pants and starts unwinding QE bonds, that would scare a lot of deep pockets out of markets quickly...