The consensus view that US equities are in a bubble are overblown due to several dynamics: index composition; low interest rates; robust forward earnings expectations; and, economic cycle positioning. The biggest obstacle with current market expectations is a double-dip recession which remains a remote possibility based on the positive output of 12 economic indicators that have historically foreshadowed an economic downturn. In fact, economic growth in the US this year is posed to be the best in almost four decades as US consumers and corporations have fortified their bal...