Market Smashed, Again

The Dow Jones Industrial Average lost 324 points, or 3.16 percent, today.

The Dow is now down 11 percent from its April high, while the S&P 500 and Nasdaq are down 12 percent from those levels.

There does not appear to be any monetary easing from the Fed. Thus, the restructuring of the economy, away from years of Fed-induced distorted structuring, continues.

There has been zero to slightly negative growth in the money supply (M2) for the last six months, and only 1.6% growth in the last 12 months. Here's the Fed's own data:

3 Months from Jan. 2010 TO Apr. 2010...........-0.3

6 Months from Oct. 2009 TO Apr. 2010...........-0.2

12 Months from Apr. 2009 TO Apr. 2010.........1.6