The last time corporate profits plunged into a recession, stocks kept rallying — but Morgan Stanley says there are now 8 big differences that could send the market tumbling

His forecast stands in contrast to the rest of Wall Street, which has a consensus profit-growth estimate of 5.1%. Wilson says that optimism — as well as the confidence being exhibited by investors themselves — is being fueled by a flawed comparison to an earnings recession that occurred several years ago.earnings slipped into negative territory. And while investors certainly faced a handful of brief downturns, the end result was surprising: The market ultimately rose across the entire period.

"Fundamentally we retain a defensive bias and think that stock/sector selection are more fertile grounds for returns," Wilson said. "It is hard to outgrow GDP as earnings have done for the past two years without some payback," he said.

alternativetitle - the stock market is good, here's what the haters have to say

Let it burn. The people are hurting. The rich need to pay the fuck attention, and if they can afford stocks, they can afford to ignore the poor. So let their precious market fall. I don't care anymore.

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