The Last Best Source for True Economic Insights It could be the end of an era… or it could be the end of the most successful scam of all time. Either way, you'll need to keep your eyes open over the next few months. Things could get ugly as Wall Street adjusts to something it hasn't faced in 18 years: an economy without Alan Greenspan at the helm. To us, that's a good thing. During his 18-year tenure, American consumer credit soared 221%. The dollar lost 15% of its value. The amount of dollars in foreign hands jumped 39%. Personal savings have plummeted from $218 billion to -$19.1 billion. And consumer spending is up 182% while real wages have gone up just 72%. Yet for all this, Greenspan has been called the "maestro." He probably actually deserves the title… but not for the reasons Bob Woodward suggests. Instead, he engineered some of the biggest asset bubbles of all time - and then left before they could pop. That's left Ben Bernanke with the bag… and could leave him with all of the blame. It's quite an accomplishment. Even Charles Ponzi's legendary scheme fell apart in just 12 months… and he went to prison for it! The best Bernanke can hope for is to keep the charade going until he can step down, too. Can Bernanke succeed… or is the clock ticking? What will happen if the bubbles pop? And is there anything you can do to protect yourself from the fallout when they do? These are important questions… and you need the best answers. That's why I'm dispatching an emissary to Cannes, France. He's off to tap into the world's greatest source of economic insights and analysis… Dr. Kurt Richebächer. A History of Helping People Protect Their Money Dr. Richebächer is one of the world's last great economists. Building on the work of history's smartest economic thinkers, he's made many amazing predictions that have been right on the money. In fact, French newspaper Le Figaro once hailed him as the "man who predicted the Asian crisis."  He also warned that Brazil's real was in trouble - eight months before the currency fell to new lows. Back in 1999 and into 2000, he recognized tech stocks for the ticking time bomb they were. In January 2000 he wrote, "Next Christmas very many of them will not be around." Keep in mind this was at the very height of the tech boom - when people honestly believed bubbles and bear markets were things of the past. But sure enough, when Dec. 25, 2000, rolled around, names like Pets.com, Boo.com and GovWorks.com had shut their doors for good. Within months, they were joined by companies like Webvan.com, Kozmo.com and Go.com. People who followed the crowd got burned as nearly $8 trillion disappeared. But Dr. Richebächer's readers had a chance to protect their money. Dr. Richebächer doesn't use a crystal ball or Ouija board to make his predictions. He rarely uses a computer, either. Nope… at 87 years old, Dr. Richebächer does his work the old-fashioned way - sifting through the actual numbers themselves. I'm not talking about the headline numbers you read in The Wall Street Journal or see on CNBC. I mean he dives into the the actual government reports, discovering the facts reporters never think to look for. For instance, most financial reports praise the growth in GDP. Dr. Richebächer agrees that by this measure, "The U.S. economy has done extraordinarily well in the last few years." But, he's quick to point out, "it has performed extraordinarily badly by the measures of employment and incomes." Dr. Richebächer discovered that in the four years after the 1991 recession - called a "jobless recovery" - employment grew by 7.6%. In the current "recovery," employment is up just 2.6%. However, don't make the mistake of thinking Dr. Richebächer is all about numbers. One of Dr. Richebächer's favorite pastimes has been to challenge the policies and statements of Alan Greenspan. In 2002 Greenspan said it's "very difficult to definitively identify a bubble until after the fact - that is, when its bursting confirmed its existence."  Dr. Richebächer fired back, "Rubbish! The bubble was as apparent to everybody as the emperor without clothes. The only thing needed to see and say the obvious was integrity and honesty among policymakers and economists." Now that Greenspan is gone… does Dr. Richebächer think Ben Bernanke can turn things around? And if not, what should Americans do? That's what Rick Barnard will find out. As I mentioned in the last AFF, Rick works very closely with Dr. Richebächer to get his Richebächer Letter out every month. And now Rick is about to escape Baltimore's dreary winter to spend a few days with the good doctor in his seaside home in Cannes. It'll be his second trip to Dr. Richebächer's abode… and we're hoping this visit will be as profitable as his first. The Problem With Europe To be honest, I had some reservations sending Rick to Cannes last year. After all, Cannes has a reputation for being a party town… and I thought Rick's attentions would wander. As his reports came in, I started to think I shouldn't have bankrolled the trip at all. Rick and Dr. Richebächer spent just about every lunch and dinner in one of Cannes' world-renowned restaurants. Dr. Richebächer even took Rick to the famous Monte Carlo Casino in Monaco. But then I learned that economics was never far from Dr. Richebächer's mind. And so even in a seaside restaurant, with the Mediterranean Sea just feet away, Rick was able to gain some useful economic insights. For example, there were Dr. Richebächer's thoughts on the U.S. housing bubble. "Americans always talk about their rising house prices," Dr. Richebächer said. "But prices are rising here in France as well. Do you hear of it? Of course not, because we know it is nothing to brag about." In his opinion, Europeans are just too modest to brag. And that's why people perceive the European economy as weak. "The only problem in Europe is that its savings are too low," he said. "It is just in our blood. Overall, Europeans have always been great savers." From that, Dr. Richebächer went on to explain what American investors should buy and what they should avoid. American stocks, obviously, were dangerous. Bonds were equally dangerous. Surprisingly, foreign stocks could also be trouble, because industries tied too closely to the United States would get hit hard. The good doctor refused to give a timetable for when things would unravel. He says that the U.S. economy's resilience has surprised him so far, and he didn't want to take a guess when it would finally run out of steam. But he was adamant it would eventually run out of steam. During this trip, I expect Rick to find out if a timetable is shaping up. I'd also like to know if Dr. Richebächer thinks Ben Bernanke will be as big a disaster as Alan Greenspan. And of course, I want to know if the recommendations Dr. Richebächer made last year still hold true. Stay tuned for the answers… Best Regards, Addison Wiggin ?To find out how you can get Dr. Richebäacher's groundbreaking research and analysis, visit http://www.agora-inc.com/reports/RCH/WRCHG204 A Small-Cap Stock Set to Leap Up the Charts After 18 months traveling the world, meeting with small-cap fund managers and tracking down small-cap opportunities, James Boric is back at the helm of Penny Stock Fortunes and Penny Sleuth. And this spring, he plans on unveiling a brand-new small-cap advisory. You'll be hearing more about that soon. In the meantime, here's an observation from his Penny Sleuth of Dec. 28, 2005… LeapFrog is a leading designer of educational toys. It makes stuffed animals, DVDs, drums, books, basketball hoops and hundreds of other fun items that help kids learn their ABC's, count to 10, solve simple logic problems and improve their motor skills… Every parent I have talked to this week has raved about LeapFrog's toy line. Every infant, toddler and kid in the Boric family got something with LeapFrog written on the box… The company has been operating since 1995 and public since 2002. In FY 2003 it brought in $680 million in sales and $1.19 a share in earnings. In FY 2004 the numbers fell considerably. Sales totaled $640.2 million and the company reported a loss of 12 cents per share. Not good! And as you might have guessed, the stock fell from a high of more than $47 to $9.20. But now it is back on the rise again. Currently, LF is trading for $11.95 a pop. And through three quarters of FY 2005, the numbers are looking pretty good. Sales are at $401.8 million - on pace for a record year. And earnings are back in the black - totaling 4 cents a share right now. We'll see how it pans out during the last quarter - which you would expect to be a big one. ?For the latest news, insights and analysis of the lucrative world of small-cap stocks, sign up for a FREE subscription to the Penny Sleuth e-letter at http://www.pennysleuth.com/sub/AFF1.html. Agora Financial Upcoming Events The Oxford Club's 8th Annual Investment University March 15-19, Marriott Hotel and Resort, Del Ray Beach, Fla. Resource Trader Alert's Kevin Kerr and Agora Financial's Special Reckoning Report Series' Sala Kannan will be speaking at the Oxford Club's Investment University in lovely DelRay Beach, Fla., this March. They'll be among some of the world's finest analysts who will reveal the techniques they believe will make the most money in the years ahead. Space is limited, so please call Agora Travel at 1-800-926-6575 or 561-243-2572 to reserve your spot right away. Important Notice! Agora Traders and Options Conference Will Be Held in Puerto Vallarta We've changed the location for the Agora Traders and Options Conference, scheduled for April 10-11. The hotel we reserved in Cancun, Mexico, was hit hard during the busy hurricane season, and repairs are taking longer than expected. But that's let us secure an even better location - in Puerto Vallarta! Don't miss your chance to learn top options strategies from the world's best experts… all while enjoying one of Mexico's most beautiful destinations. Call Vickie Beard at (410) 374-5522 to sign up!