-Caveat Lector-
---
On August 31, 2001 at an exclusive high-level
meeting,
held in a
private chateau deep in the heart of France...
The world's premiere Austrian economist met quietly
with 14 private
investors. At this meeting he revealed details about an
economic catastrophe so great -- it will either decimate
your portfolio -- or prove to be the greatest investment
opportunity of your lifetime.
"Just about everything is astronomically worse today
than it was in
1987..." says Dr. Richeb�cher. "Reaping the whirlwind of a
crashing dollar, in particular against the euro, is the
mutual nightmare of policy makers in both America and
Europe.
But for investors, it is an...
"Unbeatable Opportunity In The Making!"
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Dear Daily Reckoning Reader,
Dr. Kurt Richeb�cher is an impressive figure.
With a thick German accent and silver-tipped cane, he
stands out in
any room... even one occupied by a host of successful global
businessmen and entrepreneurs, international bankers -- and
influential British politicians.
But what is most impressive about the good Dr. is his
acumen with the
business of economic forecasting. Dr. Richeb�cher has been
described as "the man who predicted the Asian crisis" by the
French national newspaper, Le Figaro. Paul Volcker, Chairman
of the Federal Reserve Board under Ronald Reagan,
proclaimed, "Sometimes I think that the job of central
bankers is to prove Kurt Richeb�cher wrong."
Unfortunately, being a central banker is a very
difficult job. Dr.
Richeb�cher has developed one of the most amazing track
records in the world for predicting economic trends.
In November 1999, Dr. Richebacher wrote in his private
communiqu�, The
Richeb�cher Letter, "We view the U.S. technology, Internet
and communications bubble as one of the greatest manias of
all time, and manias simply do not end with a whimper." Less
than two years later Microsoft, Dell, Intel, Lucent, Sun
Microsystems, Micron -- you name the high-flying big-tech --
were down anywhere from 55% to 96%. Investors lost
billions... but not readers who heeded Dr. Richeb�cher's
warnings.
In January 2000, just months before the peak of the
Nasdaq, Dr.
Richeb�cher wrote: "Internet companies... scramble for
market share and [try] to live up to the lofty expectations
of their investors. [We predict] by next Christmas, very
many of them will not be around."
Of course, the dot-com disaster is old news --
Egghead.com down 93%;
TheGlobe.com down 96%; TheStreet.com down 82%; DrKoop.com
down 98% -- these are just a few of the high-profile
disasters you've read about in The Daily Reckoning. But
being right about events in the past, does not slow this man
down.
Recently, at a meeting in Bill Bonner's chateau in
France, Dr.
Richeb�cher -- the man who accurately called the Asian
Crisis... the collapse of Brazil's currency... and the
Internet/tech-wreck... issued a clear warning to all
investors in U.S.-dollar based assets. There's a potential
catastrophe in the making... the first and greatest economic
event of the 21st century... so threatening it could upset
the economic and political balance of the geo-political
world as we know it today.
It could also prove to be the single greatest
investment decision you
make in your life... one that your great-grand kids will
hear about from their wealthy parents...
Let's look at a few charts:
Despite recent market lows, almost everyone believes
that the U.S.
economy is still only a few months from a healthy rebound.
If that's so... then why is real disposable income falling?
Why is consumer spending beginning to slow?
Ask yourself this: If productivity was just revised
downward, layoffs
are on the rise across the board and corporate profits are
falling so fast that -- even with stock prices tanking --
P/E's on the S&P 500 are at historical highs, then what's
going to happen to the consumer -- the guy at the very end
of the line... with a plummeting savings rate?
One more... the monstrous growing trade deficit is
increasing at
astronomical rates. Foreigners have been funding U.S.
consumption for years. Currently foreign investors hold
assets worth US$9 trillion dollars -- almost equal to the
entire U.S. GDP. (See chart below)
What happens when these foreign investors stop getting
a return from
the falling U.S. markets?
The combination of these three factors: the current
account deficit,
the collapse of personal savings and the fall in personal
disposable income... all point to the same thing. According
to Dr. Kurt Richebacher, "It will come as a great surprise
how fast the U.S. economy will weaken in the near future."
But wait, there's more...
Three Powerful Reasons To Read This Carefully Special
Report #1 - The
Hidden Truth About Inflation: Understanding The Threat To
Your Prosperity
Dr. Kurt Richeb�cher lays bare the fallacious
statistics that
are crucial to justifying the 'New Paradigm.' The statistics
have been tampered with: The Consumer Price Index...The
Producer Price Index. Here's the bottom line... If you rely
on the government and Wall Street statisticians... you risk
losing everything.<?
------- End of forwarded message -------
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