You might as well face it, we’re addicted to gov. Or at least perpetual Federal Reserve intervention.
Financial Times has a great graphic showing that Wall Street sell-side analysts are as bullish today as they were in 2002, just after the Dot.com bubble burst.
One reason that Wall Street sell-siders are so positive in that US Corporate Profits YoY is at 17.61% in Q2. Noticed that US Corporate Profits YoY was 30.7% in Q4 2002 when sell-side ratings were as high as they are today.
The bad news? It took massive government intervention in the form of The Federal Reserve to make it happen.