EPS Optimism May Be Detached From Recession Reality

So-called "Greedflation" may be propping up US corporate profits for now, but as the old saying goes, all "good" things must come to an end. Eventually, pricing power will wane and persistently elevated wage bills will translate into margin compression or else voters (and thereby politicians) will tire of "profiteering" and take steps to curtail it. There's a third possibility: Recession. I'll employ more scare quotes. A "good" old fashioned downturn would not only limit pricing power, but als