Looking at the rapid rise in earnings over the last 8 years and rally in stocks I am beginning to question any type of economic cycle. Has there ever been a period of sustained decline in corporate profits? Through this recovery wage growth has been fairly low and margins have expanded but was there ever a time where wage growth and margin compression were growing fast enough that corporate profits either declined or largely didn't grow over a 10 year period? Given the current focus on stocks and corporate profits I imagine we would just continue easing if this situation was ever to happen which would most likely cause inflation but result in come level of profit growth. FYI, I am 30yo and been in financial sector for 8 years so recent market developments have probably tainted my perception of a bear market being possible.