Financial Advisors under the microscope

I recently finished reading Dan Solin's The Smartest Portfolio You'll Ever Own (2011), half of which is a damning indictment of most financial advisers. Solin makes a convincing case that those brokers who claim that they can pick stocks or time the market are selling unadulterated snake oil. In fact, avoid all of the following: Buying individual stocks or bonds. Actively managed mutual funds Alternative investments Variable annuities Equity indexed annuities Private equity deals Principal-protected notes Currency trading, and Commodities trading. Instead, Solin recommends the slow and steady historically documented growth associated with passively managed broad market index funds including many of the low-fee passively managed funds offered by Vanguard. Solin has ample shocking facts and figures to back up his claims and indictments, and he continues the attack on false claims and hidden fees here.

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The rules of the game in the age of the “war on terror”

Glenn Greenwald notes several recent legal decisions, all of which accord with the following rules for deciding cases in the age of the war against "terrorism." The Rules of American Justice are quite clear, and remain in full force and effect:

(1) If you are a high-ranking government official who commits war crimes, you will receive full-scale immunity, both civil and criminal, and will have the American President demand that all citizens Look Forward, Not Backward.

(2) If you are a low-ranking member of the military, you will receive relatively trivial punishments in order to protect higher-ranking officials and cast the appearance of accountability.

(3) If you are a victim of American war crimes, you are a non-person with no legal rights or even any entitlement to see the inside of a courtroom.

(4) If you talk publicly about any of these war crimes, you have committed the Gravest Crime — you are guilty of espionage – and will have the full weight of the American criminal justice system come crashing down upon you.

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Multiple wives for Newt

Funmentionables comes to the rescue of Newt, who reportedly wanted his second ex-wife to approve of an open marriage. Here is the Bible authority for the concept:

If he take himself another wife… —Exodus 21:10

If a man have two wives… —Deuteronomy 21:15

And here are the Bible characters who paved the way for Newt:
Abijah, Abraham, Ahab, Ahasuerus, Ashur, Belshazzar, Benhadad, Caleb, David, Eliphaz, Elkanah, Esau, Ezra, Gideon, Jacob, Jehoiachin, Jehoram, Jerahmeel, Joash, Lamech, Machir, Manasseh, Mered, Moses, Nahor, Rehoboam, Saul, Shaharaim, Simeon, Solomon, and Zedekiah.

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David Stockman comments on Mitt Romney’s version of capitalism

Appearing on Dylan Ratigan’s show today, David Stockman, an ardent traditional capitalist, criticized the leveraged buyouts engaged in by Mitt Romney at Bain, labeling this behavior speculation, crony capitalism and “an inside job.” Stockman served as Director of the OMB. during Ronald Reagan's Administrations. Stockman hammered Obama as well, based on Obama's acquiescence toward out-of-control Wall Street banks. He points out that the elephant in the room is the Federal Reserve, which is churning out endless money, thus bloating the financial sector.  Stockman urges that we need to bring back Glass-Steagall as the starting point for a solution to this mess.   Stockman also sharply criticized Newt Gingrich's claim that he served as an "historian" for Freddie Mac.

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