* Markets continue to rally worldwide

* Record highs overseas - much more action in Asia

* Markets riding a sea of liquidity

* Gold had an interesting week, closing at 1207

* The dollar had one of its best weeks in months

* In terms of other currencies gold was at a 2-year high

* This means that the euphoria about the dollar is not universally shared

* Commodities in general were up - crude oil was up - holding above 50

* This is a good indication of a solid bottom on the price of gold

* Traders continuing to make bullish dollar bets in the face of bad economic data

* Traders are willing to throw out the first quarter - regardless the excuse

* The bounceback from Q1 2014 was due to reasons that will not be repeated

* Obamacare created a huge rush to sign up

* There was a big inventory build anticipating future sales

* Bets for a 2015 Q2-3 rebound are based on optimism for consumer spending

* February Revolving Credit tumbled by $3.7 billion

* Non-Revolving Credit surged $19.2 billion - mostly student loans

* Consumers are cash poor, yet Wall Street believes they will start buying when the temperature rises

* Government under-reporting student loan defaults due to forbearances

* Wednesday release of FOMC minutes encouraged the dollar speculators because there were discussions about higher interest rates in June

* Currency traders still haven't figured out the the Fed's comments are all theater

* They are playing the game based on FedSpeak until it falls apart

* A drastic turn in the FOREX markets will take a lot of people down with it

* February Wholesale Trade declined again after January reported biggest decline in 6 years

* This marks the first 3-month decline since 2008 financial crisis

* Inventories rose slightly because of decline in sales

* Inventory to Sales Ratio at 1.29 - highest since 2008 financial crisis

* 2014 GDP increase was due to rush to build inventory in anticipation of recovery

* Bottom line: economic data shows that a second-quarter bounce in the GDP is just wishful thinking

* Ben Bernanke's new book titled "The Courage to Act" belongs in the fiction section

* Let historians justify his role in history - it is far to early to claim success

* This is the same guy who was blind-sided by the 2008 financial crisis

* He claimed courageous decisions in the face of critics, while actually putting politics and the banks ahead of the country

* His book may be coming out on eve of next economic fire that he set


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