I think that stocks are in a bubble now.
Earnings season should prove to be quite interesting.
It is not central bank policy failing so much as the complete lack of serious reform in the financial system that is thwarting a sustainable recovery.
What is a sustainable recovery? One that is not reliant on $85 billion per month in Fed purchases at non market prices in the debt markets. It is a recovery marked by growing demand support by a rising median wage, and not fueled by credit bubbles.