* 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 QE4Our Sponsors:* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

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“What did the council decide on item 42?” — answered with the speaker and the moment.

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