next recession is probably 5yr+ away. As much as the fundamental is looking shaky, just can't fight the reserve bank. The market can stay irrational longer than you can stay solvent.
QE4 in U.S. is yet to play out, ZIRP is yet to be revisited, QE2 in Australia could be coming. Still too many "life support" and "band-aid" to go through before the wound becomes "mortal".
News: CGF Challenger Ltd To Commence U.S. Dollar Annuity Reinsurance, page-16
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