An "expansionless recovery" in a world of "no exit" from government stimulus.

Euro-panic isn't the end of the world. But the world we face isn't the one we expected.

There can be no classic "V-shaped recovery" when this time is so horribly different for labor.

It's plain to see in the data. The recovery isn't jobless, it's expansion-less.

The future for gold, and what an all-time high gold price is saying about the future.

The Fed is stuck where it is this year and next: so bet on low yields and low quality.

Buy the dip if there's a "strong yuan" panic. This is good for China and the world.

Already dovish, now going on deflation-alert. A tiny first step toward more easing this year.

Today the FOMC will take the first tiny steps down the path to further easing.

It feels like the end of the world. But liquidity is plentiful and stocks are very cheap.