The Bull Case for the US

I think we are going through the same recession "head fake" we have experienced for the past two summers. If correct, when it becomes apparent that no recession is on the horizon, analysts will again have to raise earnings estimates (like they have had to do for the past two years) with a concurrent raise due for the equity markets. 

As scribed in the recent edition of The Economist (as paraphrased): America's economy is once again reinventing itself. The U.S. economy has repaired [itself] quickly in the last three years. Home prices are among the world's most undervalued (19% below fair value). U.S. banks [are] among the best capitalized in the world. Consumer debt loads are down. Exports are extremely strong. [And] energy, long the U.S.' "Achilles Heel," is now turning into an advantage with the shale gas boom.
---Trader prop. source