Since my latest update (GD 2), I've had several readers comment that it was "too depressing" and asked if things can really get that bad again. Well, for one thing, you've got to remember that the numbers we are getting from the government now cannot be trusted.

Great Depression 2I'm writing this from the beautiful Marco Island, Florida, as we prepare for the 7th WMI m2 Wealth Conference. Outside its gorgeous, but inside...watching the stock market...isa totally different environment.

Last Thursday I called for a bear market rally when the Dow was down over 300 points. A huge rally began within 30 minutes and we closed up 550 points for the day. An 850 point move in less than 3 hours….amazing. These kinds of moves used to take several days or even weeks to happen, …

For those that are brave enough to trade this market, hopefully you’ve been using the advice I’ve provided with both SDS and SSO on my newsletter at www.vraletter.com. When I put out the update “What to Buy for a Bear Market Rally” at about 11 AM the market was down 300 points …

Fire Hank Paulson Now The Wall Street Journal says that the original $700 billion bailout will not be enough (surprise surprise) which makes it likely that Treasury Secretary Hank Paulson will be forced to go back before Congress and ask for still more money. Just amazing. Congress has a chance to do the right thing …

We bail out AIG, Fannie, Freddie and the banks to save our system from collapse...they are just too big to fail. Now we have to bail out GM, Ford and Chrysler ( I mean Cerebus, the super secretive private equity firm that owns Chrysler) for the same reason. Trust me, it won't end there....and it won't stop with us bailing out just US co's.

Following the Richard Nixon disgrace of a Presidency, a little known Georgia Govenor became the 39th U.S. President. Out of nowhere, Jimmy Carter came to power in 1976 with a mandate to reform and restore the country's reputation, and hope was seemingly restored.

This now famous line was attributed to George H Bush's mishandling of his re-election bid, when Bill Clinton's victory turned Bush into a one term President. The economy was in the dumps in the year leading up to the election and Bush seemed oblivious to the recession that the country was entering.

At the risk of some personal embarrassment, I'll be shocked if Obama loses today. Every poll that I respect has him winning in a landslide, so it looks like we will have a democrat in the office for at least the next 4 years. In my opinion, this is not so much a vote for Obama …