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

* April Fool's Day and all the fools are buying U.S. stocks

* Atlanta Fed GDP Now Estimate for Q1 GDP finally down to zero

* Despite the fact that the economy is worse than the 2008 crisis, Wall Street expects a Q2 boom

* Last Q2 was boosted by Obamacare spending and inventory build

* No data supports wishful thinking that Q2 will stage a comeback

* U.S. corporate profits fell despite Wall Street gains

* Q4 corporate profits dropped by 3%

* Final revision for Q4 GDP held at 2%, weaker than expectations

* First back to back decline in March University of Michigan Consumer Sentiment since October 2013

* Personal Income and Spending rose only .1%, missing expectations for 4th consecutive month

* Savings rate increased to 5.8%, contrary to Fed's objective to maintain spending bubble

* Savings increase is problematic for the Fed because it undermines the spending spree that masquerades as wealth

* The Fed will have to launch QE4 to encourage more spending

* The March Dallas Fed Manufacturing Index plunged by 17.4%- the sharpest 1-month decline since 2008

* Chicago PMI was below 50 in March - near 6 year lows

* March ADP numbers lowest in 14 months - biggest miss vs expected in 4 years

* March ISM Manufacturing Index dropped again to 51.5 - lowest level in 22 months - 5-month decline - first time since 2008

* Construction spending "unexpectedly fell"

* Zero might not be the floor for Q1 GDP

* Stock market weakening again - oil and gold up

* U.S. dollar no longer making new highs

* Everyone is going to come to the same conclusion at once triggering violent moves in the market

* 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

* Countries with smaller balance sheets will start raising rates when dollar plunges and commodities rise

* Friday jobs number, the Fed's gauntlet, will start reflecting the rest of the bad economic news

* Rate hikes are so far into the future they are beyond QE4


Our Sponsors:
* Check out CigarBid and use my code GOLD for a great deal: https://cigarbid.com
* Check out Vanta: https://vanta.com/SCHIFF


Privacy & Opt-Out: https://redcircle.com/privacy