Bloodbath

Tyler Durden's picture




 
0
Your rating: None
 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Thu, 05/20/2010 - 16:10 | 363776 Abundance
Abundance's picture

Don't let your love ones be caught off guard by the collaspe.

Thu, 05/20/2010 - 16:15 | 363791 rich_maverick
rich_maverick's picture

Been warning folks since February that the rally's days are numbered and that we will revisit the old lows.  Many are confused why my message is so different from all their Financial Advisors...  Unfortunately, many are sticking with the advice of others because they prefer the "hope" option over my negativity.  I tell them they will have opportunities to get back in much lower.  But, like all those suffering from Stockholm Syndrome, they prefer to be part of the "abused" class.

 

Rich

Thu, 05/20/2010 - 16:30 | 363855 Bad Lieutenant
Bad Lieutenant's picture

Well said.  I gave up trying to convince friends as they are dug just too far into the mainstream brainwashing, and I've become tired of being regarded as the crazy finance guy. Frankly, it's exhausting to push against the deluge of mainstream drivel these people are exposed to every single day.

These days, given that the US people have had a SOLID year to push their representatives for meaningful financial reform and haven't done so, I no longer have any sympathy for most Americans.  I used to harbor a deep hate towards the politicians and special interests for turning America into the sinking ship it has become, but now I have a larger hate towards the people that know who's on Dancing With The Stars but can't simply describe how a FRN is created into existence.

Thu, 05/20/2010 - 16:39 | 363902 Postal
Postal's picture

"Uh... what's a FRN?"

[/sarcasm]

Thu, 05/20/2010 - 17:40 | 364062 ZeroPower
ZeroPower's picture

Um, in all fairness, theres nothing wrong with not knowing a financial acronym.

In truth, the North American masses prefer watching reality tv, because they are sure their monies are safe with whatever financial advisor they employ. Here is where the irony comes in, when they find out their advisor has about as much knowledge about global finances as they do. And thats not very much.

Thu, 05/20/2010 - 17:46 | 364077 Bananamerican
Bananamerican's picture

Hopefully, we are witnessing the death of "expertise" in this bucket shop of a country....Too many, for too long, have assumed the "experts" or our "leaderers" were TCB...

What's the quote about the price of Freedom again?

Eternal vigilance?

Sounds about right doesn't it

 

Fri, 05/21/2010 - 06:40 | 365252 anony
anony's picture

Blood is the utimate and only really effective price to pay for freedom, it seems.

Although voters in Massachusetts, Pennsylvania (partly), W.Virginia, and some other states have awoken to the malice of Disastrous Incumbency and have cast their vote in the direction of reformers to give representation another chance.

Thu, 05/20/2010 - 16:47 | 363932 faustian bargain
faustian bargain's picture

Well said. Even though a year ago would have still probably been too late to turn this rig around, but jeez, come on, people! At least put on your inflatable life vests and assume the crash position!

No? *shrug* whatever.

Thu, 05/20/2010 - 16:52 | 363946 Hulk
Hulk's picture

Our reps quit listening to us a long time ago. Thats what next November was going to be about. Doesn't look like we will make it to November.

Thu, 05/20/2010 - 18:11 | 364178 lucyvp
lucyvp's picture

At least my reps don't listen.

I wrote them about cap and trade, health reform, the bail outs, the audit the fed bill.  All I got was a reply

dear constituent

(insert party ideology with no thought or specifics here.  we know better than you so shut up and take it)

thanks for writing.

Thu, 05/20/2010 - 19:34 | 364402 Kali
Kali's picture

yup

Wed, 11/10/2010 - 00:34 | 714934 RichardENixon
RichardENixon's picture

You got responses?

Thu, 05/20/2010 - 19:02 | 364334 Problem Is
Problem Is's picture

"how a FRN is created into existence."

I Know! I Know!!
Bernank-ster shits it out of thin flatulence...
I mean thin air...

Thu, 05/20/2010 - 19:11 | 364351 Sisyphus
Sisyphus's picture

That's funny right there; I don't care who you are!

Thu, 05/20/2010 - 20:17 | 364491 Fascist Dictator
Fascist Dictator's picture

hehehe...thanks, I needed that...

Fri, 05/21/2010 - 01:01 | 365064 dark pools of soros
dark pools of soros's picture

the pigs go willingly to slaughter...  i tell people at work what to expect and they all think they got it figured out... 

Tue, 04/26/2011 - 13:54 | 1208381 william.smith61
william.smith61's picture

A part of me thinks it's funny. A part of me thinks it's tragic. And a part of me gets really angry about this.The markets USED to be a place, where you could count on, say, AMD being downgraded would lead to a 5% drop in stock value. Ignition Distributor

Thu, 05/20/2010 - 16:33 | 363883 AR15AU
AR15AU's picture

You've done all you can...  your kindness may not be recognized and appreciated but it is there nonetheless...  

Ths ostrich mentality is plaguing society...  you know, the people who won't even open their 401k statements or credit card bills out of fear.  Well, if this crash does one thing positive, it will be to terminate that way of thinking once and for all.  We will all become stronger in the end.  But a whole lot of pain lies ahead for those who are not ready.

Thu, 05/20/2010 - 16:38 | 363901 Rusty_Shackleford
Rusty_Shackleford's picture

Complete and utter lawlessness on all levels.

The middle simply will not hold.

Started re-reading my dog-eared copy of Patriots again a few days ago.

I'd advise all in the know to do the same.

Thu, 05/20/2010 - 17:28 | 364019 WaterWings
WaterWings's picture

Check out One Second After as well.

Thu, 05/20/2010 - 17:45 | 364074 DoChenRollingBearing
DoChenRollingBearing's picture

Both books are very good.

Thu, 05/20/2010 - 18:28 | 364222 TomGa
TomGa's picture

"Cut to size, file to fit, paint to match."

Thu, 05/20/2010 - 16:15 | 363792 silvertrain
silvertrain's picture

 you can lead a horse to water..

 Ive been warning them for months, and I am the crazy one..

 

 BUT, FOR IMMEDIATE family, sometimes you have to take the wheel for them..Get a little extra, of whatever it is, just for them..

 Everybody stay smart,safe, and head on a swivel..

Thu, 05/20/2010 - 20:30 | 364514 Crime of the Century
Crime of the Century's picture

Having food to share with neighbors keeps your immediate vicinity rational. You do not want hungry people around you.

Fri, 05/21/2010 - 03:20 | 365154 KTV Escort
KTV Escort's picture

Nice thought, but food runs out quickly... then they come back, this time with family and friends, expecting more. Encourage your neighbors to convert their lawns into gardens now. If you live in the city, look into relocating if you can. Desperate people do bad things. Gold gets the press around here, but a big garden might be your best investment.

Thu, 05/20/2010 - 16:20 | 363821 MarketTruth
MarketTruth's picture

Agreed, though got all my friends OUT about three months ago in full. Everyone yanked 401k, yanked all stocks/bonds/etc. Capitol controls are now in play within the USA and you can kiss your Money Market goodby as they can lock you out of liquidation on a whim.

It is still not too late folks, though you are a bit late to their game of privatizing profits to GS/JPM/etc and socializing losses to the sheeple.

Thu, 05/20/2010 - 16:24 | 363841 What a mess_man
What a mess_man's picture

And how exactly does one "yank" a 401K? 

Thu, 05/20/2010 - 16:28 | 363860 RobD
RobD's picture

If you don't work at the company that you had the 401K with then you can just ask for a check and pay the 10% extra tax. If you are still working then you can take a loan on half of the balance and pay it back with interest.

Thu, 05/20/2010 - 16:44 | 363924 Miss Expectations
Miss Expectations's picture

Be careful on this.  The 10% is a penalty.  Depending upon the size of the 401K and your income level, yanking can push you into a higher tax bracket.  I wanted to yank my IRA's but total penalty and taxes would have cost me 50% of my retirement savings.  I'm still going to yank part of it though.

Thu, 05/20/2010 - 17:00 | 363974 tmosley
tmosley's picture

You can take a loan against it.  This is much easier, and doesn't have a tax penalty.

You can still only get ~50% of your money, but at least the government won't have the other 50%.

Thu, 05/20/2010 - 18:06 | 364160 Cognitive Dissonance
Cognitive Dissonance's picture

The loan is limited by law to a max of $50k and it must be paid back over no longer than 5 years. Most companies make you set up a payroll deduction plan to pay it back or they don't give you the loan. Read your 401(k) plan documents, called the summary plan document. It will tell you everything you need to know.

 

Thu, 05/20/2010 - 20:33 | 364521 Crime of the Century
Crime of the Century's picture

Yup - all true, but imo worth it to establish an initial postion in physical PMs if you have not already done so. I am not an advisor, and I did not stay at a Holiday Inn...

Thu, 05/20/2010 - 23:22 | 364892 Dr o love
Dr o love's picture

A bigger problem with the 401K loan is that you have to repay it with after-tax dollars.  Those dollars will get taxed again when you withdraw them from your IRA.  Thus, you are taxed twice on money you borrow from your IRA.  A very bad deal IMO.

Fri, 05/21/2010 - 01:07 | 365069 dark pools of soros
dark pools of soros's picture

you are cursing pennies on the dollar considering the alternative... the loan is VERY solid move.  look t the big picture on how you are taking chips out of the casino and using them in PM's or paying high interest debt, or stockpiling glocks or whatever

also you can usually put your 401k into a cash type fund..  not great but usually a better play when the rest is crumbling and you can't that part of the 401k out...

Thu, 05/20/2010 - 17:25 | 364008 Haywood Jablowme
Haywood Jablowme's picture

So you're gonna wait when tax rates climb back to the highs in the years following the Great Depression? 

income tax rates are at all time lows right now. Those with half a brain will get out now while they still can...

Thu, 05/20/2010 - 16:48 | 363933 Day_Of_The_Tentacle
Day_Of_The_Tentacle's picture

Lucky you! I have bled 60% penalty on my pension funds to get it out, and even that was only possible, because I have expatriated my sorry bottom.

Thu, 05/20/2010 - 16:56 | 363962 optimator
optimator's picture

You only pay that penalty if you keep it out longer that 60 days.  You've got the 60 to move it.

Thu, 05/20/2010 - 16:30 | 363873 Dr. Richard Head
Dr. Richard Head's picture

I convinced my board to fire me so that I could liquidate my 401K and the rehire me after that was completed (hire/liquidate/fire all transpired same day).  This was around May/June 2008. 

Good luck with convincing your employer to do that by the way.

As far as loved ones are concerned, I warned, I screamed, I yelled, and was dismissed as a pot-smoking lunatic (neither being the case as far as I was concerned).  Part of me realizes that some need to have the proverbial financial shit kicked out of them before they open their eyes to the home of the thief and land of the slave.  With pain comes suffering.  With suffering comes questions.  With questions come the truth. 

All I know is that I do what I love and do what is true and the universe will conspire with those that do.

Thu, 05/20/2010 - 16:51 | 363944 Scarecrow
Scarecrow's picture

There's a lot of pot heads that are way smarter than the idiot talking heads on CNBC.

 

Thu, 05/20/2010 - 16:55 | 363955 Dr. Richard Head
Dr. Richard Head's picture

I can neither admit nor deny as it depends on what the definition of head is. 

Thu, 05/20/2010 - 16:56 | 363956 merehuman
merehuman's picture

for sure dont bogart.

Tue, 04/05/2011 - 05:20 | 1135932 jamesk
jamesk's picture

There is apparently a lot to know about this. I think you made various good points in features also. haier air conditioner | ge air conditioners | payne air conditioners

Thu, 05/20/2010 - 17:35 | 364043 ThreeTrees
ThreeTrees's picture

*points at self*

Thu, 05/20/2010 - 18:31 | 364234 Hephasteus
Hephasteus's picture

I hate drugs. The most precious thing anyone has or does is think. The best way to distort and abuse peoples thinking privelages are though lies and drugs.

Thu, 05/20/2010 - 19:24 | 364380 Frank Owen
Frank Owen's picture

I disagree. Sometimes drugs are what allow people to see through the lies, and change their perception. Abuse is another thing all together.

 "Think for yourself. Question authority." - Timothy Leary

Thu, 05/20/2010 - 19:29 | 364388 juangrande
juangrande's picture

the rational mind is a tool like any other tool. if you don't let it rest, perform maintenance, and nurture it, it will malfunction. we are in this mess because of collective overthinking.

Thu, 05/20/2010 - 19:36 | 364408 Rusty Shorts
Rusty Shorts's picture

@Hephasteus, ever heard of Bill Hicks?

http://www.youtube.com/watch?v=fntiAF3OSts

Sat, 05/22/2010 - 03:17 | 367364 CIABS
CIABS's picture

We'd heard of him.  Too bad about that fast-acting cancer, sort of like what Jack Ruby had.

Thu, 05/20/2010 - 20:35 | 364527 macroeconomist
macroeconomist's picture

Weed is not a drug..It is a plant..However, Xanax and Prozac are drugs.

Thu, 05/20/2010 - 21:35 | 364671 Hephasteus
Hephasteus's picture

I'm not dissing you all or anything but I'm highly empathic and when I get around drug users it just PISSES ME OFF TO NO END. I can tell casual users who do the RIGHT THING and don't go out in public when they are baked or possess sufficient mental facualties that weed doesn't degrade them down drooling stupidity. But the long term always using pot smokers are fucked in the head. They think they are 20 times more profound and focused than they are. Most of what comes out is dumb. It's just annoying for me because I get hit with the pot fog when I interact with them too much.

Now if you're on crystal meth do not be around me. Your life is in danger. I will kill you just to shut down the energy If I can't get away from you fast enough. I'm a libertarian so smoke up but don't expect to have long chats with me if you're always going to be stoned. And no I don't really care about any sort of problems that arise as a result of using it. I don't want to help. In any way. No I don't have to find some way to get along with you or "work" things out. No I don't want you to feel bad about smoking pot. Sorry you died of pancreatic cancer Barry. I didn't like being your friend cause you used too damn many drugs. Don't look me up next lifetime. Same for all the other drugged out people I got stuck with this life. Go away. Stay away. Look me up when you hate drugs as much as me. I will strive and work towards as little sympathy as possible for anyone using and for sure selling drugs.

Do NOT follow this link or you will be banned from the site!