Giggling Flee Born of Easy, Greasy Greed
by Richard Daughty
by Richard Daughty: Stupendous
Mogambo Advice (SMA)
for millionaires? First ask yourself "How did they become millionaires?"
Then ask yourself "If I'm so smart, how come I'm not a millionaire,
Well, if this
helps, I have noticed that one of the differences between us slovenly
proletariat trash and millionaires is that they seem to have a lot
of perfect teeth and nice haircuts. So, if you have nice teeth and
hair, the data apparently shows that you've got it made, so relax!
If you don't
have these, however, you will need to do it the appropriately-named
"hard way", which brings up one Big Important Difference
(BID) between us busted-out lowlife dimwits and the millionaires:
We spent our money on pure gluttonous consumption, and had a wonderful
time for a surprising number of years by virtue of racking up suffocating
amounts of debt, whereas millionaires got their millions from profitably
(as in compounding the money borrowed from a bank) investing their
money in productive, profitable businesses, like making money by
making things, or by mining things, or making money merely handling
whole oceans of money, or making money by running this towering,
engulfing deluge of money created by the evil Federal Reserve through
some Wall Street scam, con job, bamboozle or 401(k), or in any of
the rest of the gigantic financial services industry which produces,
as best I can remember instead of researching it to find out, about
40% of all the profits made in America.
no doubt noticed that I surprisingly did not use an exclamation
point to emphasize such a huge, glaring fact that is destroying
this country with some silly, low-IQ, pie-in-the-sky crap about
how investing all your retirement money in the stock market is such
a good idea when in fact -- in fact! -- it is a mathematically a
guaranteed -- guaranteed! -- loser for the vast majority of trusting,
gullible and embarrassingly ignorant people who are stupid enough
to think that putting all their money, and their entire financial
future, into the general stock market is a "good idea"
despite a complete lack of successful historical examples, common
sense and the mountains of evidence to the contrary, when, alas,
it isn't, as the evidence had already proved, so it's weird anyone
would do it.
Anyway, I remember
when I found out that investing long-term in stocks is a Big Time
Loser (BTL) for the vast majority of people, and a Small Time Loser
(STL) for almost everybody else.
For me, it
was the Five Stages of Shock. First, I was in denial, then, in the
Second Stage, I was angry, then I was depressed, then I was angry
again, then more angry, and then violently angry and scared out
my Mogambo Freaking Mind (MFM), where I remain today.
And it's especially
bad when dividends from owning stocks are taxed so highly. We're
the highest taxers of dividends in the world!
magazine posted a blog by Austin Johnson on the new changes in taxes
on dividends. The top corporate rate on the dividend is now 39.6%.
The recipient of a dividend, if in the top tax bracket, is taxed
at 39.6%, too, plus another 3.8% (the new Medicare tax), for a whopping
combined tax rate of 65.8l%!
And if you
just stupidly add up the tax rates, it comes to an 83% tax! This
83% tax rate is both highly shocking and, unfortunately, a ridiculous
and useless concept, except as evidence that I have no idea what
I am talking about, as if anyone needed more evidence of that! Hahaha!
But what else
can people do, except buy stocks, with all the trillions and trillions
of new dollars being first created by the evil Federal Reserve and
then spent by the government? All these tons and tons of new dollars,
busily working their economic way down winding, wending paths through
an economy's worth of manufacturers, miners and farmers, workers,
middlemen, retailers, owners and shareholders, and government itself,
all of whom always have to wonder "What to do with all this
money rolling in, and how can I get some more of it?"
the rest of the article
Richard Daughty (Mogambo
Guru) is general partner and COO for Smith Consultant Group, serving
the financial and medical communities, and the writer/publisher
of the Mogambo Guru economic newsletter, an avocational exercise
to better heap disrespect on those who desperately deserve it. The
Mogambo Guru is quoted frequently in Barrons, The
Daily Reckoning, and other fine publications. Visit
© 2013 Richard Daughty
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