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