The trillionaire outrage dominating financial media right now is not analysis. It is theater, and the people performing it are either economically illiterate or deliberately misleading you. I have had enough of watching this circus.
The SEC is tearing through investment advisory firms and finding a pattern of overbilling, hidden kickbacks, and outright fraud dressed up in professional language. I have been saying this for years, and now the regulators are finally catching up.
I have been calling this out for decades. Private equity rolls in, buys up businesses built by real people, extracts every dollar it can, and moves on. The business owners, the workers, and the communities left behind never see it coming.
The most profitable client on Wall Street is not the richest one. It is the most certain one. The investor who is absolutely convinced a position only goes up is the easiest person in the world to sell more product to.
The cable news crowd has been screaming about China invading Taiwan for years, and every day it keeps not happening. Meanwhile, China’s real crisis, a collapsing domestic economy, is getting almost zero coverage. Funny how that works.
The real estate industry has spent decades convincing you that buying a home is always a smart investment. It’s one of the most successful lobbying and marketing operations in American history, and you are the product.
Washington is begging you to be scared of China while they rob you blind with deficit spending that would make a Vegas loan shark blush. I am not buying the boogeyman, and neither should you.
A study identified something the financial industry has been quietly doing for decades, and it proves what I have been saying for years. If you are not already wealthy enough to impress a big firm’s account minimums, they have already written you off.
The financial industry has spent decades convincing you that investing is so complicated you need to hand your money to someone with a fancy algorithm and a sharp suit. I spent time on that side of the table, and I am here to tell you it is a con.
The big wirehouses and their slick TV commercials want you dreaming about vineyards in Napa. I want you to wake up and look at your actual account balance. Those are very different conversations.