Michael Ruppert proudly claims that he predicted the global economic slump more than four years ago in his self-published "From the Wilderness," a monthly news publication and Web site. A narcotics investigator for the Los Angeles police department in the 1970s, Mr. Ruppert left the department and spent years trying to expose links between the CIA and drug smuggling; after 9/11, he wrote the 2004 bestseller "Crossing the Rubicon: The Decline of the American Empire at the End of the Age of Oil," published by New Society Publishers and a favorite among conspiracy theorists.

Mr....