Author: Dennis Miller

Get Used To Making Less

Guest Post by Dennis Miller at Miller On The Money

Each new year brings a myriad of projections about politics, investing, life, global warming and all things in between. I view most as “for entertainment purposes only,” trying not to take them too seriously.

I pay attention to investment pundits who have walked the walk, coupled with a solid, proven track record over a long period of time.

Last spring Motley Fool reported about remarks from legendary investors Warren Buffett and Charley Munger:

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How Are You Doing? Time To Review & Reflect

Guest Post by Dennis Miller at Miller On The Money

How many times have you thought, “Why do I always have to learn lessons the hard way? -or- “Why couldn’t I have learned this 10-15 years earlier?” Even in my 80’s those thoughts still cross my mind.

When I wrote for MarketWatch, they dubbed me a RetireMentor. I don’t have fancy credentials, or a highfalutin designation on my business card, but I made it to my 80’s – done OK – and learned a lot along the way.

I was blessed with some wonderful mentors and realized it’s now time to pay back; sharing my life experiences, good and bad, hoping to make the journey a little easier for those who follow.

Friend Chuck Butler, a 16-year cancer survivor is a wonderful mentor. He helps me keep things in perspective. When my tongue cancer disappeared, I called Chuck. He explicitly told me, “Dennis you now have a new job. You are a cancer survivor, and you must now do what you can to help others.”

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What’s This Pivot Talk All About?

Guest Post by Dennis Miller at Miller On The Money

The stock market and financial pundits hang on every word from Federal Reserve Chairman, Jerome Powell. They attempt to “read between the lines,” looking for clues about what the Fed is going to do next. When are they going to “pivot” and start cutting rates?

With the 2008 bank bailout, the Fed flooded the financial system with free money, effectively reducing interest rates to zero. Individuals, businesses and government got hooked on cheap credit, borrowing and spending like addicts, with no concern for the consequences.

The banks were deemed “too big to fail.” Congress passed the (TARP) Troubled Asset Relief Program, bailing out lenders holding billions in debt that could not be repaid.

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Moody’s Cries Wolf – Nobody Pays Attention!

Guest Post by Dennis Miller at Miller On The Money

Moody’s rating service lowered its outlook on the US credit rating to “negative” from “stable”. This is not a ratings downgrade; but rather a warning of things to come. This follows actual downgrades in the US credit ratings from Fitch and S&P Global Ratings.

Yahoo Finance reports:

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It’s A Good Time To Consider A Roth IRA!

Guest Post by Dennis Miller at Miller On The Money

Friend Henry M. sent an article about Roth IRAs. This is the time of the year to review things and make necessary decisions.

The article asks the right questions while stressing consulting a fiduciary advisor, with tools and encouraging readers to find one. It’s a cleverly worded referral service earning fees from advisors.

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Best of Dennis – Don’t get caught in the debt trap!

Guest Post by Dennis Miller at Miller On The Money

Best of Dennis…

Dennis is on a short break spending time with his family. He will be back writing after Thanksgiving, but in the meantime, here’s an article worthy of a re-read in today’s economy. This article was originally posted on June 22, 2017.

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Hardly a day goes by without an article blaring about record levels of debt and warning of a collapse. Irresponsible borrowing can adversely affect everyone, including those who lived within their means.

Reuters reports, “Americans’ debt back at record high after nearly a decade”:

“Americans’ debt level reached a record high this year, surpassing the peak touched just as the worst of the recession was taking hold in 2008, …households …now lean …more on auto and student loans.”

Bloomberg weighs in on student loans, “Student debt in America has hit a new record”:

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The “Culture of Corruption” Is Historic

Guest Post by Dennis Miller at Miller On The Money

Noel Tichy defined culture as, “The unwritten norms, beliefs and values that define appropriate behavior.”

Imagine all the mafia crime families merging together, with unlimited money supply, and the ability to control the government. The cartel would make trillions with no accountability.

Forming The Cartel

In the 1880’s President Garfield warned:

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The Never-Ending War

Guest Post by Dennis Miller at Miller On The Money

As a youngster, my grandmother used a whistle to signal it was time to come home from playing outside. Right after my 5th birthday, WWII ended. She gave me the whistle, and I walked down the sidewalk blowing it as loud as I could. I remember horns were honking, the fire stations had all their sirens blaring. An unforgettable experience for a little guy.

It was the “war to end all wars,” – until Korea, Vietnam, Iraq, Afghanistan, the Ukraine and many others appeared. While these boondoggles have names, the un-named war that has gone on for centuries is white hot today; the never-ending war between the elite (nobility) and the people.

The Constitution gave the power to the people, the nobility has been undermining it at every turn.

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What’s Going on With Gold?

Guest Post by Dennis Miller at Miller On The Money

The price of gold has been swinging wildly over the last several months; from over $2,000 oz. in May, then dropped to around $1822 oz. early in October. The middle east war reignited and it quickly jumped back up around $50. What’s going on?

I Googled “Gold Price Prediction for 2023” and the responses were all over the place. Here is a screenshot of what popped up.

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Kindness Is Always In Style

Guest Post by Dennis Miller at Miller On The Money

Growing up as an only child, I loved our trips to Tennessee. Aunt Martha had six children; playing and bonding with cousins, while surrounded by loving family are some of my most cherished childhood memories.

My older cousin Janet, married a man named Jim Baxley, and they had five boys of their own. I was in my mid-20s when I got my first real two-week summer vacation, with the ability to load my young family in the car and head to Tennessee so they could meet their ever-growing number of cousins. Janet and Jim invited us to stay with them in Bristol.

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Drowning In Your Own Wake!

Guest Post by Dennis Miller at Miller On The Money

My first boat was a small 22′ boat with twin outboards hanging off the back.

A total newbie, I took the Coast Guard course by mail. We had a tiny Florida condo on a very narrow canal. Off I went, learning how to drive, navigating the twists and turns into the Atlantic. It was windy and choppy; I needed considerable power to maintain control.

I was uncomfortable and turned back, zooming into the mouth of the channel. The channel was clear for the first 100 yards. I ignored the NO WAKE signs, wanting to get well inside where there was no chop.

When I throttled back, unexpectedly the bow shot up into the air while the stern dug deep into the water. I panicked, yanking the throttle back to neutral. For a brief second, the boat leveled off and then I was hit with a huge wake from behind, sending the stern into the air. I lurched forward, bow plowing into the water.

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The Final Act – How Will It End? What Can We Do?

Guest Post by Dennis Miller at Miller On The Money

In a recent interview with Chuck Butler, we discussed the US Financial Cycle using Ray Dalio’s chart in “The Changing World Order”.

Ray points to the downside of the empire:

• Large Debts

• Printing Money

• Internal Conflict

• Loss of Reserve Currency

• Weak Leadership

• Civil War/revolution

While our discussion focused on “Loss of Reserve Currency”, it’s part of a much bigger picture.

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What Happens When The World No Longer Wants, Or Needs US Dollars?

Guest Post by Dennis Miller at Miller On The Money

Chuck Butler and I recently discussed how government deficit spending, and monetizing the debt has caused a worldwide awakening. Inflation is killing the value of the dollar, and our creditors understand that.

But wait, there’s more! The interview continues….

DENNIS: BRICS used to stand for Brazil, Russia, India, China and South Africa. Global Research reports, Doomsday for the Buck? A Reserve Currency Is No Longer Needed.

Quoting Paul Craig Roberts:

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Push The Handle, Raise The Chain, There Goes The Dollar…

Guest Post by Dennis Miller at Miller On The Money

Since the 2008 bank bailouts, government spending, deficits and debt have hit historic proportions, with no end in sight. US debt was around $9 trillion in 2008, and will soon hit $45 trillion. How can the political class justify such irresponsible, outrageous behavior?

Congresswoman Alexandria Ocasio-Cortez (AOC) (former waitress and bartender) advocates the Modern Monetary Theory (MMT). Investopedia defines MMT this way:

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What Does Really Matter?

Guest Post by Dennis Miller at Miller On The Money

Recently our friends at WHVP published an eye-opening article, The Swiss View: “It doesn’t really matter that much” discussing Fitch downgrading the US credit rating:

“Fitch announced that they downgraded the credit rating from the U.S. from AAA to AA+. ….(citing) the suspended debt ceiling and the high debt-to-GDP ratio.

…. While the announcement itself is already worrying, it is not comparable to the reactions that followed…packed with unreasonableness and arrogance.

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Generational Wealth – Fact or Fantasy?

Guest Post by Dennis Miller at Miller On The Money

Generational wealth is assets passed from one generation to another. A family business, stocks, bonds, real estate or other valuables are typical examples. These generally transfer when a family member dies.

This is different from the soft issues like family values, education, love and family, which begin the transfer process at birth and continue through a lifetime.

The Federal Reserve tells us about half of all inheritances are under $50,000, and a mere 2% are over $1 million.

Our friends at WHVP recently wrote a great article on the subject, telling us:

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