Page 1 CHRISTMAS GIFT 2015 – DECEMBER LIFT OFFPage 2 PROBABILITYPage 3 HIGH YIELD SELL OFFPage 4 COST OF DEBT IS SOARING Row 1 Row 2 Row 3 Row 40 2 4 6 8 10 12 Column 1 Column 2 Column 3Page 5 JUNK BONDS COLLAPSEPage 6 Page 7 COMMODITIES – BOOM TO BUSTPage 8 COMMODITIES –% RETURNS 2015Page 9 BASE METALS – MORE PAIN IN STOREPage 10 BASE METALS – MORE PAIN IN STORE