Will April Showers Rain on the Wall Street Excuse Parade? Ep 68

Published: April 2, 2015, 3:10 a.m.

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\\n\\t* April Fool\'s Day and all the fools are buying U.S. stocks
\\n\\t* Atlanta Fed GDP Now Estimate for Q1 GDP finally down to zero
\\n\\t* Despite the fact that the economy is worse than the 2008 crisis, Wall Street expects a Q2 boom
\\n\\t* Last Q2 was boosted by Obamacare spending and inventory build
\\n\\t* No data supports wishful thinking that Q2 will stage a comeback
\\n\\t* U.S. corporate profits fell despite Wall Street gains
\\n\\t* Q4 corporate profits dropped by 3%
\\n\\t* Final revision for Q4 GDP held at 2%, weaker than expectations
\\n\\t* First back to back decline in March University of Michigan Consumer Sentiment since October 2013
\\n\\t* Personal Income and Spending rose only .1%, missing expectations for 4th consecutive month
\\n\\t* Savings rate increased to 5.8%, contrary to Fed\'s objective to maintain spending bubble
\\n\\t* Savings increase is problematic for the Fed because it undermines the spending spree that masquerades as wealth
\\n\\t* The Fed will have to launch QE4 to encourage more spending
\\n\\t* The March Dallas Fed Manufacturing Index plunged by 17.4%- the sharpest 1-month decline since 2008
\\n\\t* Chicago PMI was below 50 in March - near 6 year lows
\\n\\t* March ADP numbers lowest in 14 months - biggest miss vs expected in 4 years
\\n\\t* March ISM Manufacturing Index dropped again to 51.5 - lowest level in 22 months - 5-month decline - first time since 2008
\\n\\t* Construction spending "unexpectedly fell"
\\n\\t* Zero might not be the floor for Q1 GDP
\\n\\t* Stock market weakening again - oil and gold up
\\n\\t* U.S. dollar no longer making new highs
\\n\\t* Everyone is going to come to the same conclusion at once triggering violent moves in the market
\\n\\t* Right now there are still people willing to buy the dollar, but eventually there will be no one to take the other side of those trades
\\n\\t* Countries with smaller balance sheets will start raising rates when dollar plunges and commodities rise
\\n\\t* Friday jobs number, the Fed\'s gauntlet, will start reflecting the rest of the bad economic news
\\n\\t* Rate hikes are so far into the future they are beyond QE4
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