It might turn out to be a grand year. The newly enacted tax cuts should stoke financial markets and lift the economy in 2018. Job growth is strong, and wages are finally ticking up. It helps that most parts of the global economy are improving in sync, reinforcing the worldwide upswing.
But history has definitively demonstrated the danger of complacency, and investors seem too sanguine. There may be no flashing alerts right now, but there are plenty of currents that could form into a storm with little notice.
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