Fidelity dropped the hammer on smaller independent investment advisors with a $100 million minimum or you’re out policy. This is consolidation dressed up as a business decision, and everyday investors are the ones who will pay for it.
I watched campaign ad after campaign ad on Sunday and genuinely wondered if I was losing IQ points in real time. What nobody is saying is that the same emotional manipulation driving these ads is the exact playbook Wall Street uses to separate you from your money.
The Oura Ring IPO just face-planted because nobody would pay $15 billion for a glorified fitness tracker, and Wall Street’s spin machine immediately blamed “jittery markets.” That’s a lie, and you deserve to know the truth.
A data center company offered Pennsylvania residents $10,000 each to approve a massive industrial campus next door, and the township said no. Good, because that offer was designed to take far more than it gave.
For fifteen years, the financial industry told retirees to accept 1% and 2% yields and be grateful. Now that rates are back near 4%, those same money managers want a pat on the back for rediscovering the 60/40 portfolio. I am not impressed.
The most important Treasury Department hire in years landed with a whisper, and that silence was not an accident. When Judy Shelton walks into a room, the people who profit from inflation get very uncomfortable.
These Wall Street analysts keep changing their ‘base case’ on live television and the media treats it like serious financial guidance. I’m done being polite about this. It’s a con.
The Fed, the mainstream press, and Wall Street have a long track record of getting it wrong on interest rates and they want you to just trust them anyway. I say no.
Private equity bought up your hospitals and your doctor’s office, Obamacare blew up whatever was left, and now you can’t even get someone to answer the phone when your 86-year-old mother-in-law is sick. Welcome to American healthcare in 2024.
Jamie Dimon walked into the Wall Street Journal and said what most establishment figures are too cowardly to say out loud about American decline. I’ve been saying the same things on this program for years, and people called me negative. Maybe now they’ll listen.