Art Cashin Director of Floor Operations at UBS, spoke with CNBC about the global economy and central banks.

Mr. Cashin echoed the recent bearish sentiments of George Soros and Carl Icahn, saying that Mario Dragi’s recent speech “was talking very much about the limitation of monetary policy and the need for some fiscal effort, sounding very much like Richard Fischer, the former head of the Dallas fed … They (the ECB) are into buying junk bonds now which shows how desperate all of the central banks have become. In Tokyo with all the stimulus they are doing, machine orders came in dreadfully, down 11%.” He goes on to note that “I think there is enough concern about the economy reaching some limits here. You are going to be going into earns season, people are going to be lowering expectations.”