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• The US seems to be in the grip of gloom and doom. A dispassionate look at the figures shows little foundation for this.
• Many seem to expect some kind of crash.
• While a significant correction is always likely, we see little reason for a 2008 style crash, unless there is some black swan event (big Chinese devaluation, emerging market default, etc.).

Source: Why All The Gloom And Doom? | Seeking Alpha