Every December for the past 13 years Art Cashin and his "friends of fermentation" have gathered at the front bar at Bobby Van's Steakhouse across from the NYSE to celebrate the holidays, and we've used the opportunity to get Art's take on the year ahead. We weren't able to meet at Bobby Van's this year, but Art was undeterred. Bobby Van's sent Art a genuine barstool to sit on, and we caught up with him via Zoom from his home in New Jersey.
A: No, I think you raise a good point. A good trader watches all of the environment around him. And as you point out, commodity prices - particularly rural commodities - are rising in general. That's always a hint to possible inflationary pressure. Number two, M2 — the money supply — the Fed has been shoveling money in terms of reserves and free reserves. M2 is rising at an astounding rate.
The Fed has essentially pledged to do "whatever it takes" to help the economy. How far do you think that pledge goes?
I remember getting Cashin’s Comments as a broker back in the 70s/80s. Very glad to see that Art’s still going strong.
Anyone hear any recent news about Hunter Biden ? I heard Joe was involved in wanting some apartment keys. You won’t hear anything from our communist news outlets