Authored by Wolf Richter via WolfStreet.com,
$1.7 trillion blown on making EPS look less bad.
The S&P 500 index, closing today at 2,373, hovers near its all-time high. Total market capitalization of the 500 companies in the index exceeds $20 trillion, or 106% of US GDP. In the three-plus years since the end of January 2014, the index has soared 33%.