Sentiment Up, Complacency Up - But Uncertainty Also Up (Not Down?)

As Tyler Durden at ZeroHedge observes regarding the above chart:

One potential mitigating factor this time is that much of the collapse in receipts is due to a 12% plunge in corporate income tax, which begs the question what are real corporate earnings? While we hear that EPS are rising, it is clear that for IRS purposes, corporate America is in a recession.

How about that far more important indicator of overall US economic health, and biggest contributor to government revenue, individual income taxes? As of January, the number was $1.56 trillion, fractionally, or 0.3% higher than a year ago, and declining.

Finally should Trump proceed to cut tax rates without offsetting sources of government revenue, a recession - at least based on this indicator - is assured.

The bottom line to me suggests that we are presently confusing market UNCERTAINTY with our DELUSIONAL &/or ILLUSIONAL BEHAVIOR?  This will soon and abruptly change.

Let me make it clear that I truly wish the "Donald" all possible success, for the sake of our country! No one is hoping more for his (our) success!

But, as I learned from my lessons with "DJT",  I am taking my profits while I can and will not be going long this market until reality begins taking hold.  Maybe then,  some of the "Donald's"  new directions (which are so desperately required and long over due) will have begun taking hold and it will then be time to invest aggressively in America again.

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Disclosure: Information herein was obtained from sources which Mr. Long believes reliable, but he does not guarantee its accuracy. None of the information, ...

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