Markets on roller coaster ride final two trading days of this week

Bad news parade marches on in April

The players are still clinging to fantasy of U.S. economic recovery

Dollar finished down substantially on the week - April was the first down month in 10 months

Dollar has seen its highs and is heading lower

Gold back below 1200

Oil prices added to gains closed above $59 - moving opposite to the dollar

Friday - March Personal Income & Spending flat below expectations

Personal Spending also lower than expected; .4% gain

Savings dropped from 5.7 to 5.3 - the lowest savings rate of the year

April PMI Manufacturing Index - dropped more than expected to 54.1 even as weather warms

ISM Manufacturing expected to rise to 52 - remained flat

Employment Index dropped two points - the first drop in 2 years

March Construction Spending fell by .6 missing expectations

Atlanta Fed correctly forecasted Q1 GDP at .2, forecasting Q2 at .8

Article on Zero Hedge: Goldman Sachs warning Europe about severe "Lowflation"

Article in Bloomberg: Chinese can't "kick" savings habit

Blames problem on "not enough government"

The reason America is in so much trouble is that we don't save

Once the Chinese have built up a cushion, then they will spend

When our phony economy bursts, it will be apparent that we did not save enough and had too much debt

America gives capitalism a bad name - we preach it but do not practice it

We rely on a giant government-run ponzi scheme of socialized savings

We are telling the Chinese they have too much free market capitalism

We have been indulging our present and sacrificing our future

The Chinese will be rewarded for their prudence

The most ironic thing about the Bloomberg article is that they suggest Chinese would be better off under Communism