Spring Has Sprung, But U.S. Economy Still Snowed In Ep 79
\n\t* Markets on roller coaster ride final two trading days of this week
\n\t* Bad news parade marches on in April
\n\t* The players are still clinging to fantasy of U.S. economic recovery
\n\t* Dollar finished down substantially on the week - April was the first down month in 10 months
\n\t* Dollar has seen its highs and is heading lower
\n\t* Gold back below 1200
\n\t* Oil prices added to gains closed above $59 - moving opposite to the dollar
\n\t* Friday - March Personal Income & Spending flat below expectations
\n\t* Personal Spending also lower than expected; .4% gain
\n\t* Savings dropped from 5.7 to 5.3 - the lowest savings rate of the year
\n\t* April PMI Manufacturing Index - dropped more than expected to 54.1 even as weather warms
\n\t* ISM Manufacturing expected to rise to 52 - remained flat
\n\t* Employment Index dropped two points - the first drop in 2 years
\n\t* March Construction Spending fell by .6 missing expectations
\n\t* Atlanta Fed correctly forecasted Q1 GDP at .2, forecasting Q2 at .8
\n\t* Article on Zero Hedge: Goldman Sachs warning Europe about severe "Lowflation"
\n\t* Article in Bloomberg: Chinese can't "kick" savings habit
\n\t* Blames problem on "not enough government"
\n\t* The reason America is in so much trouble is that we don't save
\n\t* Once the Chinese have built up a cushion, then they will spend
\n\t* When our phony economy bursts, it will be apparent that we did not save enough and had too much debt
\n\t* America gives capitalism a bad name - we preach it but do not practice it
\n\t* We rely on a giant government-run ponzi scheme of socialized savings
\n\t* We are telling the Chinese they have too much free market capitalism
\n\t* We have been indulging our present and sacrificing our future
\n\t* The Chinese will be rewarded for their prudence
\n\t* The most ironic thing about the Bloomberg article is that they suggest Chinese would be better off under Communism
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