Jim Rogers on Bloomberg harping on the peak oil theory again and how the largest oil fields in the world are declining. Rogers stated while China is building up oil infrastructure the U.S. is seriously lacking. He reiterated don't sell oil.

Then this little blurb I read for all gloom and doomers:

•Through August, the federal deficit hit $1.38 trillion, or three times last year's all-time record deficit of $454.8 billion. And in September alone, the administration expects another $200 billion in red ink, bringing the total for the year to $1.58 trillion.
•The U.S. government's official debt is now at an all-time high of $11.8 trillion, or over $100,000 for each and every household in America.
•Both the administration and its opponents agree that, over the next 10 years, the cumulative federal deficit will be another $9 trillion, driving the burden per household up to $177,000.
•The Federal Reserve is also in hock up to its eyeballs, with more than $2 trillion in liabilities on its balance sheet. That brings the total burden up to $194,000 per household.
•Perhaps worst of all, the government's unfunded obligations for Social Security, Medicare, and Federal pension payments are also ballooning higher and now stand at an estimated $104 trillion, or $886,000 per household.
Total burden per household: More than $1 million!

Per Martin Weiss PHD
Money and Markets


Run don't walk to VGENX (oil) and VGPMX (metals) funds and don't look back.