Retail sales were disappointing, just as I thought that they would be. Looks like the “fluff” from the stimulus checks has all gone through the wringer! And credit cards are getting maxed out.

Retail sales actually went up last month - how is that even possible?…The Beige Book says the U.S. economy is ‘generally weak’… The sky’s the limit for electronic money - but not so for real wealth…America’s money is snapping back… Calling into question the U.S.’s car culture…the next big thing in the search for an energy alternative…and more!

What has really changed?…importing inflation…hoping to prove Friedman wrong…Can the U.S. central bank really begin fighting inflation in a serious way? Ah, dear reader - there’s a cruel twist to this story…The cure for high prices is high prices…and so the global economy lurches forward…and more!

Gen X wonders if it can ever retire. As Wall Street waits for Citi and Merrill shoes to drop, Goldman issues gloomy forecast. As if write-downs weren’t enough, here comes another $250 billion problem. A 17% first-quarter loss…When hedge funds don’t hedge. Coal prices shoot skyward… The sector ideally positioned to benefit.

Consolidation may preface the next up move. Gold was off in the far East, but picked up in London trading and continued higher until the noon hour of the New York session on Monday, after which it pulled back from $930 to finish another lackluster day at $924.70/oz., down $1.20. Overnight, gold has been pushing higher.