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Don't let your love ones be caught off guard by the collaspe.
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.
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.
"Uh... what's a FRN?"
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.
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?
Sounds about right doesn't it
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.
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.
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.
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
(insert party ideology with no thought or specifics here. we know better than you so shut up and take it)
thanks for writing.
You got responses?
"how a FRN is created into existence."
I Know! I Know!!Bernank-ster shits it out of thin flatulence...I mean thin air...
That's funny right there; I don't care who you are!
hehehe...thanks, I needed that...
the pigs go willingly to slaughter... i tell people at work what to expect and they all think they got it figured out...
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
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.
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.
Check out One Second After as well.
Both books are very good.
"Cut to size, file to fit, paint to match."
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..
Having food to share with neighbors keeps your immediate vicinity rational. You do not want hungry people around you.
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.
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.
And how exactly does one "yank" a 401K?
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.
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.
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%.
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.
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...
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.
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...
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...
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.
You only pay that penalty if you keep it out longer that 60 days. You've got the 60 to move it.
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.
There's a lot of pot heads that are way smarter than the idiot talking heads on CNBC.
I can neither admit nor deny as it depends on what the definition of head is.
for sure dont bogart.
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
*points at self*
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.
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
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.
@Hephasteus, ever heard of Bill Hicks?
We'd heard of him. Too bad about that fast-acting cancer, sort of like what Jack Ruby had.
Weed is not a drug..It is a plant..However, Xanax and Prozac are drugs.
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.
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