Jeremy J Siegel: The Foolish Professor 181024
October 24, 2018
Emailed to WSJ/NYT/WP/DMN, the US SEC, Congressman Pete Sessions, Congressman Sam Johnson, Senator John Cornyn, Senator Ted Cruz, and Dallas Mayor Mike Rawlings 10/24/18
The following is an Op-Ed to “The Wall Street Journal”, “The New York Times”, “The Washington Post”, and “The Dallas Morning News” which explains why Jeremy J Siegel is The Foolish Professor of Finance at the Wharton School!
The “news media” has an ethical responsibility to inform the general public of how the U.S. Government is committing fiscal and accounting fraud to cheat the general public and the rest of the planet so they can “feather their own nests” and “dramatically feather the nests of their upper-class friends”.
The “news media” is aiding and abetting the corrupt and criminal U.S. Government by refusing to report this fiscal and accounting fraud! The U.S. Government should be operating its fiscal policy with accrual accounting!
Jeremy J Siegel: The Foolish Professor 181024
October 24, 2018
Jeremy James Siegel is the Russell E. Palmer Professor of Finance
at the Wharton School of the University of Pennsylvania
in Philadelphia, Pennsylvania. Wikipedia
Born: November 14, 1945 (age 72 years), Chicago, IL
Doctoral advisor: Robert Solow
Education: Columbia University, Massachusetts Institute of Technology
Dr. Jeremy Siegel is a renowned and acclaimed Professor of Finance at the Wharton School of the University of Pennsylvania. For the last 25 years, Dr. Siegel has been a cheerleader for stocks starting with the first edition of his book “Stocks for the Long Run” which was released in 1994. Dr. Siegel continues to promote stocks as the best place to invest in today's economic and financial environment.
Dr. Siegel is a frequent commentator on CNBC promoting this investing philosophy, is now an advisor and spokesman for “Wisdom Tree” ETFs, and is featured in a current Wisdom Tree advertisement that runs frequently on TV.
It is certainly true that Dr. Siegel's position on stocks has been correct since his book first came out in 1994.
However, I contend that Dr. Siegel is “The Foolish Professor of Finance at the Wharton School” since he has yet to discover that stocks have actually been the correct place to invest, not since 1994, but since 1969 when the U.S. Government started running a Ponzi scheme. I call this Ponzi scheme “USAPonzi” and it has been printing imaginary-counterfeit money for the last 49 years! The U.S. Government is digitally printing this imaginary-counterfeit money with GAAP basis deficit spending which defers public liabilities to the future Americans and undertaxes the current Americans, primarily the U.S. upper class.
The U.S. Government is not operating its fiscal policy with proper accrual accounting and, as a result, is printing counterfeit money at the current rate of $16.6 Billion a day and to date has printed $115.3 Trillion of what I call imaginary-counterfeit money!
How is it possible that a renowned and acclaimed finance professor and economist cannot see that the U.S. Government is committing fiscal and accounting fraud to fraudulently make the stock market appear to be the only good place to invest your money! The stock market has been going up for 49 years because the U.S. Government is printing imaginary-counterfeit money by borrowing it from the future Americans and giving it to the U.S. upper class!
University professors are supposed to “seek the truth” and “speak the truth”!
Dr. Siegel is foolishly performing the role of cheerleader for what is now a massive $115.3 Trillion U.S. Government fraud.
Dr. Jeremy J Siegel is “The Foolish Professor of Finance at the Wharton School”!
The title of Dr. Siegel's book should be “Stocks for now because the U.S. Government is running a Ponzi scheme”! The subtitle of Dr. Siegel's book should be “Disaster is a coming when this Ponzi scheme implodes”!
Knowing when a Ponzi scheme switches from miracle to debacle is the key to wise investing in a Ponzi economy, but that is a very hard thing to predict!
We may be close to the switching point now for USAPonzi, because the stock market is having a hard time deciding whether to go up a lot or go down a lot!
The U.S. economy is rigged to favor the rich for now!
But not for the long term as Dr. Siegel espouses!
A lot of people have been fooled by this U.S. Government fraud for nearly half a century but a Professor of Finance at the Wharton School should not be fooled, especially when it is a $115.3 Trillion fraud!
USAPonzi is a $115.3 Trillion fraud that is growing by $16.6 Billion a day!
The U.S. Government is corrupt!
The senior officials of the U.S. Government are common criminals that have committed a $115.3 Trillion criminal act by not operating the U.S. Government fiscal policy with proper accrual accounting! The senior officials of the U.S. Government are common criminals because they are direct financial beneficiaries of this massive fraud! The corrupt and criminal U.S. Government is overpaying itself with imaginary-counterfeit money!
We have 535 criminals in the U.S. Congress and an untold number of criminals in the White House!
I have sent 14 whistleblower letters to the U.S. Securities and Exchange Commission, a whistleblower letter to every member of the U.S. Congress, and 9 whistleblower letters to each member of the U.S. Supreme Court so that all three branches of the U.S. Government would be informed of this massive fraud!
I have also sent over 200 Op-Eds to the “mainstream media” in an attempt to expose this massive fraud to the citizens of Planet Earth! None of these Op-Ed candidates have been published!
This massive fraud is explained in more detail in my Open Letter to US Government, my Open Letter to Planet Earth, and my Open Letter to US General Public!
I have presented specific fraud charges against the U.S. Government in my Fraud Charges against U.S. Government commentary!
I have also explained this fraud to the International Monetary Fund in my Open Letter to the International Monetary Fund commentary!
To eliminate this massive ($115.3 Trillion) fraud, the U.S. Government must adopt GAAP Accounting and commit to a balanced GAAP basis budget.
|Cash Deficit in FY2019
|GAAP Deficit in FY2019
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org Oct 24, 2018
This fraud/Ponzi scheme (USAPonzi) is explained in much more detail on my websites www.usaponzi.net and www.usaponzi.com and in my books “USAPonzi” 11/22/15, “USAPonzi2” 5/1/17, “USAPonzi3” 2/1/18, and “USAPonziA” 9/1/18! Each of these books have updates that I made every few days until the next book was published. I have published 670 commentaries since March 29, 2013 in an attempt to explain and expose this massive U.S. Government fraud!
This is the biggest ($115.3 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Ultimate Government Fraud” and “The Biggest Ponzi Scheme on the Planet”.
John W White