The previous theme over the past 3 years may be repeating as 2012 moves forward: "Bad news is good, good news is better". Of lying and willfully misleading investors is a path we shouldn't go down. The truth is the most thoughtful people involved with markets are being steamrolled by central bank liquidity. Whether it's the ECB, Bank of England, Bank of Japan, People's Bank of China or the U.S. Fed QE and ZIRP trump all other analysis.If employment or eurozone conditions are weak you must put your mind with "Orwellian" thinking since bad news means more liquidity. Good news means good news and asset prices will inflate even more. The central bank punchbowl isn't going anywhere until perhaps May. Then there'll be more focus on the election and its aftermath. And, after the election the bills will come due, bond vigilantes will become more emboldened and government jobs -- including at the Fed and Treasury -- may be safe enough to make tougher choices.