“We’re really worried about a global meltdown”: S&P erases gains for year as stocks plunge 2% on Fed, growth concerns (Video)

I like Art Cashin. I used to read his UBS column and it was always full of great stories about the old days, even from before he came on the scene. I learned some interesting stuff from this guy. I can still picture in my mind’s eye him wearing his “Dow 10,000” hat in 2008. (The joke being that he got the hat when the Dow was moving up and not crashing down like it was in 2008.)

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The GOP led effort in the House and Senate to legalize hemp nationwide

Hemp for those who don’t know is the male of the cannabis plant. The female plant is what contains THC, the substance that gets one high. Hemp is just an amazing industrial product.

If one has ever had a shirt or a piece of rope made from hemp one is struck by its durability. Much more durable than cotton for instance. It is tough but also soft. It has a million uses, from paper to building material. However for years the drug war (not to say cotton producers and producers of chemical based products such as Nylon) have gotten in the way of the legal cultivation of this very useful plant.

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The market is rigged? No : ‘Plunge protection’ behind market’s sudden recovery

The “plunge protection team” (PPT) used to be something which was whispered about. Now it’s openly discussed in the New York Post. Hell will become a frost covered plain before the New York Times  will ever mention the PPT of course.

As I have written before, there is an understanding among traders post-2008. If the market heads into a nose dive the Fed will intervene. It will actively buy futures (and likely whatever else it has to) in the market to buoy the market.

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Stocks down over 200 points – again, “That’s what has brought out the panic,”

It’s never time to panic. That is certainly doubly true when it comes to investing. But it takes a disciplined mind to avoid freaking out as shares continue to march lower day after day. And in the midst of the chaos to make wise decisions.

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Dow down almost 300 points at this moment, Fear of a Fed created bubble chills markets

In the attached article from CNBC the point is made that the real bubble is likely an inflated confidence in the Federal Reserve.That come what may, the Fed will intervene in markets and buoy them. So what if stocks are over extended, Yellen and the FOMC will save the banker’s posteriors. As we’ve said before this sounds very much like “housing prices always go up” to us. If sentiment regarding the Fed were to change, if traders were to fear that things were bigger than the Fed,

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Are we looking at a “global deflationary shock” triggered by the Fed?

The economic tide has been going out for quite a while, but the pace has just quickened in emerging markets – big time. Things have become quite unsteady and no one knows whether the current instability will trigger something broader in the developed economies. China is slowing. Japan has horns locked with China economically and increasingly politically. Europe is catching its breath before another wave rolls through.

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Fed stays easy, Stocks up, Dollar down

Ben told us today that he’s not ready to stop rocking the QE just yet. The stock market celebrated. More manna from the Fed! Hurrah!

Now sing it with me – “Ain’t no party like a Bernanke party, ’cause a Bernanke party don’t stop!”

Ah yes it’s good to drink from the punch bowl.

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The S&P 500 Is Now A Gambler’s Paradise With 76.9% Up Days In May So Far

Not bad. The economy must be just killing it! No? Well…Then why is the market ripping and roaring? You say they’re handing out free chips at the Fed window and the cards are stacked for the players? Oh excellent. That seems like a good way to run an economy. Pass me a martini.

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