When Central Banks Crapped Their Monetary Beds

This AM Sven Henrich summarized our current lunatic situation as well as can be done:

Markets at 210% market cap to GDP, inflation at 30 year highs, consumer confidence at 10 year lows & the job quits rate at the highest ever. But in no way did we flood the system with too much money.

He got that right. The Fed and its fellow-traveling central banks around the world have basically crapped their monetary beds. That is, they have not been just a tad too aggressive or now find themselves a bit behind the curve. Rather, they have vaulted so far off the deep-end that they have turned the money and capital markets into raging casinos that must eventually implode in a fiery collapse.