We are witnessing a large investment meltdown in the stock markets as financial insitutions begin to pull their $money out of the European, Asian and Latin American countries.

In the U.S. there is a massive cashing out of investors in hedge and mutual funds. This coupled with brokers telling their clients that their securities and stocks, that were purchased on borrowed money, have fallen beyond the value line.

When this comes to bear, these investors have to sell something (stocks, etc.) to get cash. THE ECONOMY IS NOT SLOWING! It's a Warren Buffet's buying market.

This is shown in the large interest in purchasing three-month U.S. T-bills. This could be a sign of a change in the economy after the first of the year. Also, another factor fueling the selling rage is the dumping of sweet crude futures, which were being held by mutual and hedge funds, as a hedge against inflation.

This selling is called "deleveraging", so that they can sell off their futures before they go to a lower point in value.

Meanwhile, back on the European ranch, many countries are looking to the IMF for loans to shore-up the money reserves. Too many counties crashed the "get rich" party with subprime and other loans and now they are suffering a well deserved hangover. That's except Japan and China and that ranch out in Crawford,Texas.

Americans, keep your cool, and don't panic. Tighten your spending belt until this election is over. All we can do, is to hope the best man wins. He who really wants to help this country.

God bless America! VOTE!!

Now, go softly into the night. mgf