Is the rally over? Not at all! The world’s bankers say the economy is recovering. Investors believe them; they’re bidding up stocks.

There’s a lot of anger towards President Obama. Most of it is misplaced. Obama is a slick young politician with high approval ratings. He replaced a president who had 90% approval ratings at one point – the highest of any president in history. Both have sacrificed the free-market principles America was founded on. Partisan politics mean nothing when both parties insist on spending the country into oblivion.

China’s economy expanded by 6.1% in the first quarter, its slowest pace in at least a decade. But many economists believe this will be the low point for the world’s third-largest economy, as signs of recovery are already starting to emerge.

Credit isn’t wealth. A lot of people are discovering that the hard way. Welcome to the credit deflation prelude to hyperinflation.

Being in the right place at the right time is far more important than brains. Luck provides better investment returns than talent. Too bad. Because our luck seems to be running out.

America’s triple-A credit rating may be in danger, says Standard and Poor’s. If the country has to bail out Fannie Mae and Freddie Mac through a prolonged recession, it could cost the nation’s treasury as much as 10% of GDP.