Notes from JWR:

Warning: Today’s blog posts will exceed the Recommended Daily Allowance of Gloom and Doom.

Congrats to Tom H., the high bidder in our recent SurvivalBlog benefit auction. Today we begin a new auction, for a mixed lot that includes:

Special Mixed Vegetable Case-Six #10 Dehydrated Food Cans (Retail Price $105.95) This special Mixed Vegetable Case contains six #10 (96-ounce) cans–one can of each of the following: Mixed Vegetable Blend, Green Beans, Sweet Garden Peas, Mixed Peppers, Potato Dices, and Sweet Potatoes and a EZ-Towels 10 Pack Combo (10 bags of 50 towels. Retail value: $99.95). These items were donated by Jan at Healthy Harvest Foods.

An assortment of world class loose leaf teas, and a box of Bellagio hot chocolate (25 individual packs), with a combined value of approximately $100. These items were courtesy of Charlie at

A Katadyn VARIO water filter, donated by Ready Made Resources. (An $89 retail value.)

The auction ends on October 15, 2008. The opening bid is just $50. Please e-mail us your bids, in $10 increments.

Today, we present a guest article by Michael Pento, Senior Market Strategist with Delta Global Advisors. With more than 16 years of industry experience, Michael Pento acts as senior market strategist for Delta Global Advisors and is a contributing writer for He is a well-established specialist in the Austrian School of economic theory and a regular guest on CNBC and other national media outlets. Mr. Pento has worked on the floor of the NYSE as well as serving as vice president of investments for GunnAllen Financial immediately prior to joining Delta Global.

But first, here is my commentary on the recent “tectonic shifts” on Wall Street: