Implode-o-Meter News - Hussman: Central Banks' "Extinction Burst"

This sudden escalation of dovish pronouncements by central bankers isn't sound monetary policy, being conducted based on demonstrated cause-and-effect relationships between policy tools and the real economy. No, this is an extinction burst. Central bankers are behaving like lab rats frantically pressing a bar in hope that more food pellets will come out of the chute. They ain't comin'.
... I remain convinced that monetary authorities have already ensured a financial collapse in the coming years that is baked-in-the-cake as a result of obscene valuations. That outcome will unfold nearly regardless of economic prospects.

By encouraging acute financial distortions, enabling massive issuance of speculative-grade securities and stock buybacks at near-record valuations, and repeatedly diverting national savings toward speculative malinvestment, the concerted behavior of central banks is increasingly pushing the global economy toward financial crisis and depressed long-term growth

Relevant:

Hussman: Central Banks' "Extinction Burst"