Political stabilization destabilizes the safety net, while higher yields signal QE2 is working.

It doesn't require a perfect economy to justify substantial stock market gains in 2011.

Labor market to the critics: do you still think QE2 wasn't necessary?

The extension of the Bush-era tax cuts symbolizes that capital is still welcome in America.

The compromise tax bill will pass. Little warts and all, this is a pro-growth landmark.

The FOMC keeps a low profile, and QE2 becomes business as usual.

Not a buy, not a sell. The best bull case has weakened, but other upside factors are in play.

We didn't abort the recovery from the Great Recession -- now, some modest expansion.

After the 4th-best December in 110 years, stocks haven't gotten ahead of themselves.

ADP's crystal ball turned out to be cloudy. Jobs growth will have to wait for 2011.