Dear Daily Reckoning reader,

I'm writing to you today to help you protect your
investments from what will inevitably turn out to be the
first great disaster of the 21st century.

My name is William Bonner. You know me as the author of the
Daily Reckoning, but I'm also president of The Fleet Street
Letter, which, having been published since 1938, is the
oldest continuously-published investment advisory in the
English language.

For over 60 years we've taken pride in offering a very
different analysis of the day's events, as well as
providing investment advice that's been extremely
profitable for those who have followed it. In that time,
our goal has always been the same: to help our readers
understand and profit from trends -- both political and
economic -- beyond their control.

New Era Myths Exposed

In January 2000, The Fleet Street Letter published a
special report called The Real Internet Economy. You may
have read it already. If not, we've made a complimentary
copy available for your review. On page 3 of this report,
you'll see I warned readers that the very nature of the
"New Era," and the Internet economy, would lead to the
downfall of Internet stocks themselves!

And sure enough, in 2000, the NASDAQ fell 39%, the largest
single year tumble in its history. Several dot-coms have
gone under -- like Pets.com -- and many have all but
vanished, including high-profile wrecks like DrKoop.com and
eToys, down 98% and 99% from their highs respectively. Not
only that, the"must-own" stocks of the day are down: Intel
down 54%, Cisco down 63% and Amazon.com down 82%, just as
we had predicted.

The reason for the demise of these companies is simple, as
you will see in your copy of The Real Internet Economy. But
if you followed the traditional sources of investor
information -- CNBC, the Wall Street Journal or any of the
major Wall Street firms -- you would never have known what
was really going on -- until it was too late. Most of the
important news... the historic rise in credit levels, the
plunging savings rates in the United States and the serious
lack of earnings among all but a handful of Wall Street's
"must-own" stocks.... was buried by the media in favor of
bull-market cheerleading.

You were led to believe that stocks and the business
environment had entered a New Era -- one that offered
permanent prosperity. But the truth is, Internet businesses
never stood a chance.... nor did the big techs that
provided the raw materials. We could see that from only a
cursory review of their balance sheets.

The Trend Whose Premise Is False

Like all revolutions, the Internet revolution brings with
it destruction. Economist Joseph Schumpeter called it
"creative destruction"... the notion that within the
revolving fortunes of capitalism, a new and better method
or idea will exert competitive pressure on existing
companies... and their products. But an even more
destructive idea in the New Era was that an abundance of
information would miraculously make us all rich... without
saving, investing wisely or working hard.

Now... the whole economy is about to pay a huge price for
the so-called"Internet revolution." You've already
witnessed the opening volleys... the volatile ups and downs
that we've seen in the market since last October. And the
crushing blow sustained by the Nasdaq. Over $30,000 dollars
per American family... has simply vanished from the stock
market.

But it's only the beginning. With the savings rate falling
further, refinancing to service massive consumer debt
levels and the personal bankruptcy rate skyrocketing...
it's obvious -- the American consumer is"spent out."
Earnings will continue to suffer... and stocks will
continue their downward slide.

If only rescuing the economy was as easy as Dallas Fed
Chairman Robert McTeer suggested when he told an audience
last week:"If we all join hands and go buy an SUV,
everything will be all right." If only we could spend our
way to prosperity.

I believe the downfall of Wall Street and the ensuing fall
of the dollar will be remembered as the first great event
of the 21st century.

But even so, does that mean there is no safe place to
invest? Absolutely not. In fact, just as I predicted the
"New Era" economy would come to an end, I'm also predicting
there will be unique cash-rich survivors... unique
investment opportunities left for the investor smart enough
to get in at the right moment.

Let me give you an example. Right now you could be invested
in boring"Old Economy" Seacor Smit, the world's fastest
growing offshore transport company. It serves the oil
industry. One of the few shipping companies in the world to
turn a profit, its earnings have grown an average of 15% a
year for the last five years. We first recommended it to
readers in February 1999, and it's up 75%.

Or how about our 92% gain on Air Express? And 66% on Viant
Corporation... in one month? Or a respectable 143% gain on
Ito En?

These are just a few of the recommendations we've profited
from at The Fleet Street Letter while the Nasdaq lost
39%... and the Dow fell 5%. We predict there are more
exciting returns ahead. I'm inviting you today to first
review your copy of The Real Internet Economy, then join us
in enjoying these safe profits.

But, as you might expect, I recommend you act quickly...
before the losses on Wall Street reach all-new staggering
levels... You want to get your money into the companies
with the greatest chance of weathering the storm. That's
why I've sent you this free copy of The Real Internet
Economy. I want you to know the truth behind the"Real
Internet Economy" and to be prepared for -- and profit from
-- what lies ahead. Please click here:

http://www.agora-inc.com/reports/FSUS/TheRealInternet

and take a few minutes to read this report. It could be the
most important thing you do to protect your wealth in the
months to come.

Sincerely,


Bill Bonner
President, The Fleet Street Letter


Der Link ist auch beachtenswert.

Gruß

Jan

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