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I just posted this note on - Hewitt

Several months ago I advised subscribing to the Thomas Nogales report, a free monthly e-letter. I have read this report for several years, and find each issue provocative and useful.
The just-released October 2008 issue entitled "Three Phases of a Collapse, An Oil Play" is especially so.

"I firmly believe that most investors reading this e-letter will be essentially broke within ten years," editor Thomas Gleason writes. "Your money will be lost to inflation, a dollar decline and a series of failed defensive asset repositionings that won't protect your savings."

Scary stuff. But better that we prepare now than bury our heads in the sand. To learn more, click here

Also, permit me a word or two about Washington. While our elected (and unelected!) officials try to fix the credit mess, they also need to cut government spending.

U.S. Treasury gross public debt is $9.788 trillion, up $794 billion from a year ago. The annualized rate of change: almost 9%.

I view growth in U.S. debt as a proxy for inflation. In contrast, the "official" inflation rate is 5.4% a year, through August 2008. In human terms, the incremental increase in public debt is $2,600 for each of the 300 million Americans. The trend is not our friend.

A long-term bull market in stocks will resume once investors regain confidence that our national checkbook is under adult supervision.
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