If You Can’t Dazzle Them With Your Brilliance Baffle Them With Your BS…
Guest Post by Dennis Miller at Miller On The Money
Readers often ask for investment advice. When I began writing for Casey Research, I was warned by the legal team to begin any response with, “I am not licensed or qualified to give individual, personal investment advice. Please be sure to consult with your personal financial advisor.”
While I may not be duly licensed and trained, I’ve seen investment advisors, with lots of fancy plaques and designations, giving clients what I consider bad advice, while raking in lots of profit for themselves.
The King Of The Hill
I just reviewed the 2024 J.P.Morgan Asset Management Guide to Retirement.
Check out Wall Street On Parade’s article, Freakonomics and Frankenbanks:
“That $11.7 billion in net income at JPMorgan Chase Bank, N.A. represents 18 percent of all bank profits at all 4,568 FDIC-insured banks in the United States.
That would be a highly dangerous and systemic bank based on that fact alone.
But when one throws in the nonstop sleaze (like banking Bernie Madoff and Jeffrey Epstein for decades) and five felony counts this bank has racked up during the tenure of its Chairman and CEO, Jamie Dimon, it becomes crystal clear that this bank poses unacceptable and unmanageable risk to the financial stability of the United States.”
Hmmmm…. Consider the source. JPM has been fined billions for breaking the law. Now I see advice from their Asset Management Division. I’m sure they are profiting handsomely from asset management and this fancy report will help them garner new clients.
I may not be licensed or qualified, nor did I spend last night at a Holiday Inn Express (like the old TV commercial), but I spotted some issues raising a red flag.
I reviewed the section regarding Social Security benefits calculations. Between the bank and the government, the “Baffling BS” has hit astronomical proportions.
IS THIS WHERE THE HELLENIST CREATED THEIR: “PROBLEM-REACTION-SOLUTION” STRATEGY FROM…FOLLOWED BY “DIVIDE AND CONQUER”?!?
WHY “CREATE PROBLEMS” IN THE FIRST, FOLKS???
LIVE AND LET LIVE WORKS JUST FINE FOLKS…IT PROMOTES “PEACE” AMONG “US”…RE-MEM-BER???
dafuq is your obsession with ‘hellenists’ ? do you even understand what the word means?
Fuck over all the banks including all central banks.
pay off all your debt ASAP
It will save your life and make it rain bankers from the tops of tall buildings.
You will thank me later.
If we really get the s**t storm everyone, including me, expects, the best thing would be to have as much debt as possible. If the system and banks collapse, poof no more debt. Unfortunately, even we doomsayers lack a crystal ball. So a reasonable balance is best. However, there is one caveat. Whatever you save by reducing debt needs to be saved in some form. Blowing the savings on a fancier car, bigger house, clothes or eating out is the worst thing to do. Spread the savings out: some investments, some precious metals, and some survival items like long shelf-life food and firepower. Remember, if we really have a zombie apocalypse, all your friends and neighbors who didn’t prepare will become 1st- beggars, then looters and murderers.
If you live in a large city the looters/rapist/murderers will show up before your friends. We are 60 miles from Memphrica and worry that we might be too close.
Drive that way to Louisiana from St. Louis. Niggers everywhere.
I’m living it, Cliff, so I know about how many colored people live along the Mississippi River.
TRUTH!!!!!!!!!!
DEBT is a cruel mistress. Especially if you spend the money on stupid things. Chinese plastic trash should stay in China.
If they wear a coat and tie beware. The chance is excellent you will get dusted off. Hill billies with a junk truck carry the same warning. Scamerica is currently in full blossom.
Good article. This comment at the beginning really hit home for me…
While I may not be duly licensed and trained, I’ve seen investment advisors, with lots of fancy plaques and designations, giving clients what I consider bad advice, while raking in lots of profit for themselves.
The biggest disappointment in life was finally coming to the realization that the majority of people are charlatans. This is true of every profession but particularly so in finance. I forget which book, but I still remember Michael Lewis writing about his entry into the world of finance and how he and his coworkers, all fresh out of college, were handed multi-million dollar accounts to manage despite having no experience. Even worse, he said many of them had never even balanced a checkbook before.