Investors relying on the mainstream media for investment research better rethink their strategy, and quickly. Garbage in, garbage out can ruin your 401K and destroy your retirement dreams. A recent Gallup Poll concluded: “Americans’ trust and confidence in the mass media “to report the news fully, accurately and fairly” has dropped to its lowest level in Gallup polling history, with […]» Read more
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A recent Gallup Poll concluded:
"Americans' trust and confidence in the mass media "to report the news fully, accurately and fairly" has dropped to its lowest level in Gallup polling history, with 32% saying they have a great deal or fair amount of trust in the media. This is down eight percentage points from last year.
… Americans' trust and confidence hit its highest point in 1976, at 72%, in the wake of widely lauded examples of investigative journalism (Emphasis mine) regarding Vietnam and the Watergate scandal."
When it comes to politics, the major newspapers, television networks and websites present the information to steer the reader toward their desired political conclusion. This is done by their headlines, selectively presenting facts, while omitting others.
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What is it about elected office that causes smart people, many with good intentions, to turn into absolute morons? Their decision-making logic is totally focused on reelection instead of doing what is right. Many times their illogical decisions harm the people they are supposed to protect. Each week I go through a large reading pile looking for ideas to write […]» Read more
Mr. Buffett is giving seniors and savers bad advice. “Diversification is protection against ignorance. It makes little sense if you know what you are doing.” – Warren Buffett. The Buffet theory acknowledges risk is mitigated by sector gains offsetting sector losses; however the opposite is also true – sector losses offset sector gains and reduces returns. His is willing to […]» Read more
Young people fear that Social Security will be broke and are struggling to fund their IRA and 401(k) retirement programs – where do they start? Steven H. a friend from Bleacher Nation, my favorite Chicago Cub website, provides an excellent example: “I am 26 years old, a long way from retirement, and I know it’s important to start early. I […]» Read more
Do you really want to retire? You may give up more than you realize. I was on the verge of tears when I called Amy 30 minutes before I was supposed to pick her up for our first date. My parents broke their promise and said I couldn’t use the car; I had no wheels! Amy (fictitious name) was a […]» Read more
It’s time to go back to the trust-busting days of yesteryear and break up the big banks. Does congress represent the people or special interests? Consumers lost when the Glass-Steagall act was repealed in 1999. It created banks, “Too Big to Fail”, with billions in taxpayer bailouts and mind-boggling fraudulent activity. Joseph Stiglitz, Nobel Prize winner in economics sums it […]» Read more
Chicken Little proclaimed, “The Sky is Falling”, warning all who would listen. Wikipedia tells us, “…Chicken Little … is a folk tale … about a chicken who believes the world is coming to an end. The phrase ‘The sky is falling!’ … (is) … a common idiom indicating a hysterical or mistaken belief that disaster is imminent. Versions of the […]» Read more
I’m very afraid right now and I’m not alone. My life changed radically in 2008. I have written about the government pulling the financial rug out from under retirees. Today I will venture into new, uncharted territory. The Troubled Asset Relief Program (TARP) bill, signed by President Bush, authorized $700 billion to bail out the banks. In 2011, using information […]» Read more
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