Central Banks Behaving Badly

No stock picks today.  If you take all the actions being contemplated or currently underway by the Major Central Banks – it is hard to comprehend what they are thinking or what their possible end game could be?  I am dumbfounded:

• BusinessInsider – LARRY SUMMERS: Janet Yellen just had a ‘subprime is contained’ moment
• MarketWatch – Pressure mounts on ECB to do QE3, but Thursday is seen as close call
• MarketWatch – Updated Bank of England’s Carney ‘absolutely comfortable’ with decision to expand stimulus
• The Wall Street Journal – Doubts About Bank of Japan’s Firepower Send Yen Sky High
• ZeroHedge – Barclays Highlights “Conundrums Of A Policy Maker” – Helicopter Money Only Option Left

If you want some really apocalyptic opinions – read on:

• David Stockman – It Won’t Be Long Now—-The End Game Of Central Banking Is Nigh
• Sovereignman – When they say ‘hoarding’ instead of ‘saving’ you know you’re in trouble

To be comfortable with today’s stock and bond prices requires faith that these Bankers know what they are doing.

I personally don’t have that faith – so I am keeping my risk asset profile on the conservative side – at least until something breaks.