Here's a couple of worthwhile reads:
I keep having this nagging thought that everyone, including me, is over-analyzing this. The sad truth is this is an average recovery of average duration. McCulley has pounded the Liquidity Trap drum back from exile. He is right to point out the Fed Watcher industry in an era of openness. Liquidity Trapped economies don't produce average expansions by definition. however.
Participants and pundits continue to calibrate to the mean reversion of an anomaly that was the last 30 years. Prior to that, as it was with drug culture, most of the 60's happened in the 70's. Prior to that, few of us were born and none of those were trading. The historical nickname for the post credit super cycle era? The Long Meh