About a month ago, Inphomation Communications Inc., owner of The Psychic Friends Network, filed for bankruptcy, claiming that it has $26 million in liabilities and $1.2 million in assets. Several different headlines used a phrase such as "They should have seen it coming."

Very funny. But then again, maybe not. At one point, the company was doing well over $100 million annually. It all came from gullible, uncertain individuals who would pony up $3.99 per minute for the dubious service.

Psychic Friends' biggest spokesperson was none other than former singing star Dionne Warwick, who perhaps should have known better. After all, many years ago, on the advice of her psychic, she added an "e" to her last name, only to see her singing career disappear. But, as was noted by Motley Fool's James Surowiecki, like so many others, Warwick's faith in the business of getting poor and desolate people to shell out enormous amounts of money that they really shouldn't be spending, for worthless advice, remained unshaken.

Is this what Warwick really meant when she sang "That's What Friends Are For"?

It's one thing for celebrities to endorse food or personal care items, which are probably all commodities. It's a whole other matter to shill for companies that are simply ripping off those who can least afford it. Is this not a classic example of a violation of the public trust?

It doesn't end with psychic hotlines, of course. Visit any bookstore since about 1925, and you're sure to find several diet books, filled with the latest and greatest theories on how to lose weight. Never mind that Stillman's, Atkins' and Sears' methods have all been disproven. If doctors don't feel remorse about charging for nonsense advice, why should anyone else? At least Dear Abby and Ann Landers are free when you buy your newspaper!

In America, more than anywhere else, we have a history of self reliance, and we used to be a bit skeptical. "Show me" didn't apply only to Missouri.

Lately though, there has been a very disturbing tendency to let "experts" do our thinking for us--aided and abetted by burned out celebs who will do anything for a buck. Whether you're being sold snake oil by someone with a medical degree, or a crystal ball, it's still snake oil.

As the old adage goes, if it sounds too good to be true, it probably is. Beware of washed up stars bearing gifts.

YOU have to earn an honest living. Why shouldn't THEY??