In many ways, each of these four have been underway for some time, none of which are due to the incompetency of Washington, and all of which have been built up over the last several months. U.S. stocks have been complacent since January to the obvious and undeniable fact that reflation expectations have failed to confirm the rally.
Entitlement relates to the feeling that money invested in stocks must produce returns in the future with no downside risk, and all reward.
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