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Guest Post: Playing Financial Chicken In Your Golden Years

Tyler Durden's picture




 

Via Monty Pelerin's World blog,

My generation, born during or near post World War II, has been quite fortunate. Those of us lucky to have been born in the US during this period hit a sweet spot of both place and history. The economy thrived, standards of living soared and many avoided the numerous wars that dominated the Twentieth Century.

Today, the future does not look so bright. Economies are stagnant, standards of living are declining and the threats of war increase. Younger generations will have more difficult lives than my generation.

Life has its own ways of ensuring that TANSTAAFL (“There ain’t no such thing as a free lunch”) is enforced. My twilight years now present major challenges. The rise of big government has changed  retirement prospects in ways that few imagined. Many are still oblivious to what is coming and its implications on lifestyles, wealth and security. Those who believed they were financially secure are correctly revisiting this assumption.

The underlying premise of Trading To Armageddon  is that an economic and market debacle is unavoidable and likely to occur within the next several years. The timing of this event is impossible to predict. There are numerous potential triggers, some outside our borders. The crisis could happen as soon as this week, or it could take years to appear.

What Happened?

john_maynard_keynes

Intervention, stimulus and liquidity propped up the US economy and markets beyond levels that are sustainable. Like policies have been used in other developed economies.

For the last half-century government has pretended that it can manage an economy. Any slowdown brings the same reflex-action – expand liquidity and increase government spending. This response, according to Austrian Economics, is the source of the boom-bust cycle that now characterizes modern economies.

Decades of Keynesian interventions to prevent the business cycle have succeeded in weakening economies around the world. Each intervention was an attempt to prevent distortions to prices and asset allocations from correcting. In the attempt to prevent the corrections, government action added more imbalances. Today, most developed economies are filled with distortions and unable to operate efficiently, grow or create wealth.

The political interventions have reached their limits, at least in terms of covering up economic weakness. Trillions of dollars have been thrown at the current economic downturn over the last five years. There has been no recovery, nor will there be until economies purge themselves of the distortions. Cosmetics no longer work. The world does not have enough lipstick to cover this economic pig.

What Will Happen?

Governments of the world will continue to try to hide the damage. While this action may buy more time for the political class, it will do so at the cost of making the economic correction worse. The tipping point that ensures another Great Depression has been passed. Continued interventions will only make matters worse. Economies, governments and perhaps societies are likely to fail if political meddling continues.

Our “Wizard of Oz” government has no intention of admitting their mistakes.They will continue to pretend that they are “fixing” matters as they pour more poison into the veins of economic activity. Whether they stop willingly or they are stopped by a market collapse, a Great Depression will ensue.

What About Investing?

Investing, at least as we knew it, is dead! It died when markets became dominated by political rather than economic events. Investing principles that worked for most of the last 150 years are irrelevant in today’s politicized world. Who, for example, still believes that a “buy and hold” strategy is viable? It is still sold by hucksters. The surest way to make a million dollars in this stock market is to invest $3 million using a “buy and hold” strategy.

Traditional investors should not be in these markets. If they must, they should not behave as traditional investors.

Change Your Outlook on Investing

Most of what we learned about investing should be forgotten, at least until governments, society and markets return to honesty. If that occurs, it will be a multi generational process, As a result, no one alive today should consider himself an investor.

Don’t confuse Warren Buffet and his ilk with investors. They may have been at one time, but are no longer. They are political operators who utilize politics and connections to their personal advantage. Unless you are very big, well-connected and willing to pay to play, you cannot play in their league. If you fit the aforementioned categories, you already have forgotten about investing and are playing a more sordid but profitable game.

So what is the little guy to do? Either get out of markets or trade in a way that you protect yourself against the coming debacle.

Why Not Just Get Out Of Markets?

Getting out of markets is an option, although probably not a very good one. Government dishonesty, particularly with respect to currency, is an important reason why. As governments continue to throw liquidity into the system, two effects occur:

  • The money must go somewhere and will drive up prices.
  • The value of the currency declines.

Recently, money has been going into financial assets. Government is driving up the price of bonds keeping interest rates down. That forces yield-starved investors further out the risk curve and into stocks. Financial assets have been affected more than consumer prices at this point (particularly if you believe government CPI statistics).

Not being in the stock market today subjects you to a potential double-whammy — the opportunity cost of missing a run-up in financial assets and the loss of purchasing power from holding cash or near-cash. If you believe that inflation will become a major issue (and it is hard not to when the Federal Reserve has quadrupled its balance sheet and continues its expansion), then holding cash is the equivalent to deciding to become poorer.

A Gigantic Game of Financial Chicken

Investors, whether they know it or not, have been forced into a gigantic game of financial chicken. For those unfamiliar with this terminology, Wikipedia offers this explanation: :

The name “chicken” has its origins in a game in which two drivers drive towards each other on a collision course: one must swerve, or both may die in the crash, but if one driver swerves and the other does not, the one who swerved will be called a “chicken,” meaning a coward; this terminology is most prevalent in political science and economics. The name “Hawk-Dove” refers to a situation in which there is a competition for a shared resource and the contestants can choose either conciliation or conflict; this terminology is most commonly used in biology andevolutionary game theory. From a game-theoretic point of view, “chicken” and “hawk-dove” are identical; the different names stem from parallel development of the basic principles in different research areas.The game has also been used to describe the mutual assured destruction ofnuclear warfare, especially the sort of brinkmanship involved in the Cuban Missile Crisis.

The analogy is imperfect in the sense that the opponent (the market) is not an acting being whose well-being is jeopardized by its actions or inactions.

We are all forced to play this game whether we consider ourselves investors or not. Staying in markets is taking risk, but so too is leaving markets. If a person believes that liquidity will continue to drive up financial assets (until it no longer does) and drive down the purchasing power of money, then his biggest payoff is to remain in markets up to the point of collapse. Leaving too early is costly, and leaving too late could be even costlier.

No one should be forced to play this game. Retirees and near-retirees especially should be living off the income from a life of savings, not playing chicken to survive. Unfortunately, the government policy of financial repression (low interest rates) forces them into such a situation. The further policy of counterfeiting money makes the situation even more difficult.

Whether individuals abandon markets or stay in them, they are playing with fire whether they realize it or not. 

Which Position is Riskier?

Assessing risk is always subjective. Expectations regarding inflation, market upside, market downside and adjustment speed(s) should guide your course of action. The following comments provide an idea of how these considerations affect decisions:

  • If you believe that future inflation will not be serious, then you should only be concerned about the opportunity cost of missing a rise in financial assets. If you could be assured that your funds would hold their purchasing power, you might be inclined to leave markets early, preserving your purchasing power rather than trying to grow it and risk major loss.
  • If you believe that inflation will be severe, you should be inclined to stay in markets longer than otherwise.
  • If you believe that markets have much further to rise as a result of liquidity, then the opportunity cost of getting out is greater and you should stay in longer.
  • If you believe the market collapse will not be that severe (say 25 – 30%), you will stay in longer than if you expect a drop of 50+%.
  • If you believe the market drop will be gradual rather than rapid, then you likely will stay in longer and truncate your positions when the pain becomes too great.

In an honest world (where currency had integrity), I would be out of markets. But that is not the world we must deal with. As the great economist Frank Knight once observed:

We have to adapt and overcome, that’s all we can do. 

In Knight’s sense, we are mere pawns in some greater game. We must play the hand we are dealt.

The fact that currency is being depreciated around the world has implications that should not be ignored. The risk of high inflation, perhaps hyperinflation, can destroy anyone on fixed income or who stands pat believing his savings is enough.

At the same time, the potential for an economic apocalypse has never seemed greater. There have already been two 50% drops in stock market averages in the first decade of this century.

Because I believe that high inflation and a market collapse are real possibilities, I (and millions of others who believe similarly) am forced into playing the wildly dangerous game of financial chicken. When we should be enjoying our retirement and grandchildren, government has forced us to take risks that even wild teenagers likely would avoid.

 

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Sun, 03/03/2013 - 19:28 | 3296154 I think I need ...
I think I need to buy a gun's picture

everyone gets one total and complete wipeout, ours is here very soon you don't get a perfect 80 years in any one lifetime,,,,,,,,

Sun, 03/03/2013 - 20:30 | 3296306 Thomas
Thomas's picture

It's like careening down a curvy mountain road with no brakes. Every curve gives way to yet another, more treacherous, curve. Eventually, you mess up and meet your maker. This is very similar to running a business in a hyperinflationary environment, in which decisions accelerate like a life and death game of whack-a-mole. Eventually, you make a bad call and, again, meet your maker. One more metaphor? Investing is like playing Tetris.

Sun, 03/03/2013 - 21:16 | 3296393 Town Crier
Town Crier's picture

I had not realized that the criminal elite has succeeded in getting its victims to fight among ourselves (young people vs. boomers).

Sun, 03/03/2013 - 23:19 | 3296740 Notarocketscientist
Notarocketscientist's picture

As I have pointed out on NUMEROUS OCCASIONS to the DONKEYS who think owning GUNS AND AMMOS is going to somehow protect them when the shit hits the fan, they will NOT.

Why?

Because the stupid donkeys will be herded by the elites who will dive them up into the really dumb donkeys (the vast majority) who will then identify those who are not donkeys and who are fighting for what is right - and the donkeys will set upon them and waste them with their GUNS and AMMO.

If you think this time will be different then you are ignoring history.  The elites generally win

Sun, 03/03/2013 - 21:25 | 3296431 OutLookingIn
OutLookingIn's picture

Similee: Using 'like' or 'as' in discriptive form.

Metaphor: Not using 'like' or 'as' in discriptive form.

Sun, 03/03/2013 - 22:44 | 3296653 Richard Head
Richard Head's picture

Only one "e" in simile, cocksucker.

Sun, 03/03/2013 - 23:09 | 3296712 philipat
philipat's picture

When all Fiat currencies play the "Race to Debase", they don't actually devalue against eachother. All the major CB's have learned the game. So if they are not devaluing against other Fiat, you say, well against commodities and prescious metals? No, the CB's have that covered also. In the face of QEInfinity, PM's are declining.

Instead, IMHO default and/or a systemic collapse of some sort is inevitable. Perhaps you should factor that in also...

Sun, 03/03/2013 - 23:39 | 3296794 Thomas
Thomas's picture

Actually, that was a good catch on simile vs metaphor. When I reread it I caught it but it was too late to edit. It's like I am simile challenged.

Sun, 03/03/2013 - 23:06 | 3296706 Notarocketscientist
Notarocketscientist's picture

Sounds exciting!!!

Could this involve a sexy 18 yr old nymph somehow? 

Sun, 03/03/2013 - 20:45 | 3296332 A Lunatic
A Lunatic's picture

I've had three. I think I'll try to sit this one out.......

Sun, 03/03/2013 - 21:20 | 3296413 OutLookingIn
OutLookingIn's picture

T.. T.. Talkin bout my guh... guh... generation.

Sun, 03/03/2013 - 22:38 | 3296636 Never One Roach
Never One Roach's picture

Unhappy with your 0.01% "high yield returns?"

 

What ungrateful wretches!

Sun, 03/03/2013 - 19:29 | 3296156 suckerfishzilla
suckerfishzilla's picture

I'm clucking on the sidelines of the markets with PM's. 

Sun, 03/03/2013 - 23:05 | 3296702 Notarocketscientist
Notarocketscientist's picture

I have lots of PM in the bank vault as well but let's get real - if it comes to that (it will) - you'll want to wipe that smug look off your face.   Doesn't matter how much PM you have because the world around you will be chaos.   And all PM will give you is something to eat while the rest are eating dog food.

Not much solace in that

Mon, 03/04/2013 - 02:44 | 3297059 Vlad Tepid
Vlad Tepid's picture

A bank vault??  Bwahahahaha!!

Tue, 03/05/2013 - 16:54 | 3302090 suckerfishzilla
suckerfishzilla's picture

You should buy some pecans, dehydrated mangos and cherries to go along with that dog food. 

Sun, 03/03/2013 - 19:33 | 3296159 Race Car Driver
Race Car Driver's picture

> When we should be enjoying our retirement and grandchildren, government has forced us to take risks that even wild teenagers likely would avoid.

 

Yeah - gee... that's too fucking bad. Mbbe you old fucks should have done something about the problem, oh, you know, way the fuck back then.

GFY.

Sun, 03/03/2013 - 19:39 | 3296176 Race Car Driver
Race Car Driver's picture

Heh - anonymous downrates. Chicken-hearted scumbags.

Sun, 03/03/2013 - 19:47 | 3296194 nmewn
nmewn's picture

You don't like anonymous voting? ;-)

Sun, 03/03/2013 - 19:48 | 3296197 GMadScientist
GMadScientist's picture

Maybe if they knew someone was watching, they'd take the act more seriously?

Sun, 03/03/2013 - 20:14 | 3296255 nmewn
nmewn's picture

The act of voting or why didn't "the old fucks" do something about it? Which brings the corresponding question...what are the young fucks doing about it today?

We both know very few of the "old fucks" who went through college econ came out versed in "alternative economics", Hazlitt, Hayek, Mises. It was Keynes all day, everyday, with a sprinkling of distorted Friedman for "corroboration" of Keynes. With that, full faith & credit that the money labored for, would always be sound for future generations to come.

Some very bright people were sucked in by the not so bright teachers but its somehow, the "sucked in's fault".

Sun, 03/03/2013 - 21:50 | 3296495 Diogenes
Diogenes's picture

Do something? Do what? Some of us boomers saw this coming years ago. We tried to warn you. We tried voting for cutting spending, balancing the budget. Nothing worked. Governments do whatever the hell they like and sell the public a load of bullshit.

By the way, most of us so called boomers bear NO resemblance to the media's representation and never did. We did not go to Ivy League schools, we weren't Yuppies, we never owned a BMW or a pair of Berkenstocks. We worked, paid our bills, saved what we could, believed the big banks and government, invested our savings conventionally, and look what it got us.

Now the same crooks who hosed us are working on you. They want us at each others throats. Divide and conquer. If they can get you to throw us under the bus, guess what they have in mind for you.

Sun, 03/03/2013 - 22:05 | 3296543 nufio
nufio's picture

its not really a point of anyone doing anything. if everyone maintained the lifestyle in the 30s there would have been no problem. the problem is expecting to maintain the lifestyle of excess of today. To do that americans have to be 30 times as productive as someone in a developing nation with a poorer exchange rate to buy the same goods/resources from the global market. The declining standard of living in the west is just the rest of the world catching up and there being a fairer distribution of resources for labour hour. There is no escaping the declining standard of living in the future of the west. I dont see it as good or bad, just thats the way it is. The excess was possible not really because of American exceptionalism as a lot of americans like to believe but just a side effect of the reserve status of the dollar and the natural resources around the world controlled by the US.

Sun, 03/03/2013 - 23:02 | 3296695 Notarocketscientist
Notarocketscientist's picture

I call BULLSHIT.  Ya a few people lived responsible lives.  But the rest of you took the bit of the PR machine and tried to live large.

Don't agree?

When did the term Keeping up with the Jones get it's start?

Sun, 03/03/2013 - 23:53 | 3296831 GMadScientist
GMadScientist's picture

I believe the "young fucks" are intent on occupation or something or other (but not so much on obtaining an occupation).

Mon, 03/04/2013 - 06:12 | 3297191 rich_wicks
rich_wicks's picture

what are the young fucks doing about it today?

Golly.  I'm from generation X.

Well, we did basically create the internet as you know it today.  We've exposed the media for what it is, a bunch of lying scumbags to anybody that wants to bother to spend 5 MINUTES to find out.  Julian Assange is one of us oh but he's a TERROWIST, right?  Exposing the endemic corruption of our government is apparently a terrorist act.

I highly doubt that the person running this site is a boomer.  If it is a boomer, that's a big surprise to me.  More likely Generation X or Y.

The first poster is right.  Fuck the boomers.  This is a generation that railed against the government in the earluy 1970s and then TOTALLY sold out, and now run the government.

We have a government that spies on it's citizens, that sends the nation into insolvency, that entirely runs the media.  Who runs the government today?  Boomers.  Who runs the "establishment" media today?  Boomers.  Who wants that "National Health Care" now that they need it but passed up on it in the 1970s when NIXON was proposing it?  Boomers.

They are, by far, the most hypocritical cowardly generation this nation has ever seen, and I have absolutely no sympathy for any of them.  Nixon was thrown out of office for lying about a buglary.  Obama is murdering people with drones, signs kill lists, is in court RIGHT NOW trying get the authorization to kill anybody without charge or trial, and is handing over trillions of dollars to insolvent financial institutions that should be bankrupt and using our tax money to do all of this.

What's the boomers response to all this?  Outrage?  Indignation?  Calls for impeachment?

No, it's "gee, I hope this fucking mess we made and are running stays together for another 20 years so I can die - fuck everybody else".

This isn't the "elites" pitting one generation against another.  It's one generation that preached to no trust anybody over 30, that once preached "give peace a chance", then later preached "greed is good", that later said "nuke the Arabs" and now they are saying fuck everybody - do whatever it takes to keep this fucking mess running for just a while longer, as I'm still alive, and force everybody else to pay for my extravagant, vain, selfish, lifestyle.

They pit themselves against everybody else and did that all their lives.  Well they are getting old and frail now and they are worried about their comeuppance I would imagine.  Don't trust anybody over 30?  I have a better suggestion, don't trust a boomer.

What have they accomplished as a generation?  The generation before them sent a man to the moon.  My generation basically created the Internet.  Y is further developing it.  It was boomers that have done the least, and gotten the most reward.  It's goign to collapse the second they retire, because Y and X cannot pay for them.  Even if they wanted to they can't, and the boomers have nobody to blame but themselves.

If you graduated from college in 1971 with a basket weaving degree, you could take a year off to travel Europe and be assured to get a good job when you got back to the US.  Today, people leave college with $60,000 in debt to find all the jobs are outsourced, thanks for government programs, boomers have erected in the last 10 years.

Nobody owes them anything.

Mon, 03/04/2013 - 06:38 | 3297207 Pool Shark
Pool Shark's picture

 

 

And you put the Debt Brother back in office...

http://www.pewresearch.org/2008/11/13/young-voters-in-the-2008-election/

"66% of those under age 30 voted for Barack Obama making the disparity between young voters and other age groups larger than in any presidential election since exit polling began in 1972."

Why didn't you vote for Ron Paul?

Mon, 03/04/2013 - 06:59 | 3297221 rich_wicks
rich_wicks's picture

I gave Ron Paul the Federal Maximum in 2007 as a campaign contribution.

That was the last chance assuming 2004 wasn't.

There is no difference between Obama and Romney other than the smoke they blow up your ass.  They had all the same policies, unless gay marriage is an issue you feel REALLY passionately about.

https://www.youtube.com/watch?v=sZLqsRqKFyI

Obama continued all the policies of Bush.  Every one.  Guantanamo, warrantless wiretapping, the wars, torture, bailouts.

Mon, 03/04/2013 - 07:23 | 3297233 Pool Shark
Pool Shark's picture

 

 

I'm not blaming you for voting for Obama, I'm blaming your generation (not that Romney would have been much better).

As a group, how could Gen X'rs believe Obama was the best choice to solve our fiscal mess; especially given his track record over the last four years?

btw, Obama won the youth vote by an even bigger margin in 2012 than he did in 2008:

http://www.politico.com/news/stories/1112/83510.html

 

Mon, 03/04/2013 - 07:40 | 3297257 rich_wicks
rich_wicks's picture

Who knows who won?  Diebold is in place.

When's the last time you knew anybody that got called on a poll?  Hey, isn't it interesting that Paul got these huge crowds and still barely register in the polls?

Well, youhad Ben Swann doing some work, but he was the only one.  The rest of the media was claiming that somehow Ron Paul supporters were crashing the polling software everywhere.

And don't forget who runs the media today.  It's not generation X or Y...

http://www.politico.com/news/stories/1112/83510.html

Yeah that shitty media.

You know, the same media that said Hussein had weapons of mass destruction and was working with binLaden, then didnt think there was any story in finding out how they ended up repeating those two "minor" "errors".

 

Mon, 03/04/2013 - 07:34 | 3297249 nmewn
nmewn's picture

X's & Y's exposed the Fourth Estate (the media) for what it is?...lol.

Son let me tell you something, long before you were even a gleam in your daddy's eye, Boomers of the center & right have been railing of the duplicity of these carpet bagging SOB's. Everything on that front was started by us and will be carried on by you.

But I will give you this...

"This is a generation that railed against the government in the earluy 1970s and then TOTALLY sold out, and now run the government."

...is an absolutely true statement.

I feel nothing but shame that it was my generation who said always question authority, never trust them, who then became the authorities and continued to grow authority to the point where you do not and will not know the simple freedoms we once had.

What you need to understand...and I believe you do...is it is human nature to choose the easiest path in life and the elite class (authority) understands this well. It's much easier (from a political standpoint) to promise the masses candy instead a harsh tonic for a malady.

So when they come to you offering this babble & that...ask them what will we give up for this? When they say nothing, you will know they are lying to you.

There is no such thing as a free lunch, someone always pays with something...either time, labor or money.

Mon, 03/04/2013 - 07:43 | 3297261 rich_wicks
rich_wicks's picture

Let me sum this up real quick.

What I don't like about your generation is that your stated principles have nothing to do with your practices.

It was a generation with no principles.

There is no such thing as a free lunch,

My point is, it was free for the boomers.  The silent generation, and now X and Y are paying for them.  Your generation has done completely away with the constitution in an attempt to do this for another 20 years at which time it will be time for me to retire, but I'll probably be dead by then.

Mon, 03/04/2013 - 08:02 | 3297280 nmewn
nmewn's picture

"What I don't like about your generation is that your stated principles have nothing to do with your practices."

You're painting with a pretty broad brush there my man. Where do you find I ever asked anyone for anything? Everything I have, I worked for, saved for and built with my own two hands or paid someone else to do. I can use a hammer, a saw, a tape...I know the principles of electricity and plumbing and mechanics...you can't do any of that with your precious internet.

Your problem is with the socialism/fascism of the nanny-state, not with ALL boomers.

Now I leave you to wallow in your misery...some of us have to actually work around here ;-)

Mon, 03/04/2013 - 08:34 | 3297310 rich_wicks
rich_wicks's picture

"Where do you find I ever asked anyone for anything?"

I'm not talking about you personally, I'm talking about your generation in general.

And in general, they demand an awful lot.  They demand from other generations things they weren't willing to do themselves.

National Health Care was being pushed through under Nixon in the 1970s.  Where did that go?  Well, it didn't suit the boomers at the time, they were young.  Vietnam War?  That was wrong because of the Gulf of Tonkin Lie, that Mike Gravel read into the record to inform all of you about it in 1971.

It's a generation that spread STDs and lived on the dole their younger years.  They dismantled the infrastructure in search for higher profits through the 1970s and 1980s.  They threw both Generation X and Y into war in the Middle East over OBVIOUS lies, not once, but TWICE.

Now they "deserve" their Social Security, Socialized Health Care is essential - you don't need the Constitution anymore, so who cares about it?  Disgrunted X and Y'ers?  Put them in free speech zones.  Internet rabble causing too much trouble?  Regulate it with SOPA.

I'm no uneducated fool about your generation or mine or what is going on.  I understand how lazy your generation is and self serving.  That's not to implicate you pesonally, but your generation as a whole, is despicable and I'll be happy when they are dead.  You generation has destroyed this country and continues to do it.

When the Savings and Loan Scandal broke out, heads rolled.  Now, that can't happen, might effect the value of your homes negatively...  That's your nest egg.

I'm not saying our generation would be different given the same leverage in the political system, I'm just saying my generation IS different, and I'm glad I'm not part of the slime mold that was the hippies.  All their stated values, all their stated principles - they had none.  Everything they preached, was just bullshit.

"Everything I have, I worked for, saved for and built with my own two hands or paid someone else to do. I can use a hammer, a saw, a tape"

Good for you.  In 1960, my father built is house.  Today, he wouldn't be allowed because of regulations.  Might effect some union jobs and allowing people to do their own construction and get rid of all this onerous permitting processes, well, it might drive home prices down...

Everything I have I didn't have to pay for, I paid TWICE what you did for it.

"I know the principles of electricity and plumbing and mechanics...you can't do any of that with your precious internet."

In the 1990s, in college, I was at a party with a group of other engineers and we were discussing the very early internet.  One guy said that it was going to obliterate every culture.  I was shocked and said as much.  He then told me "you don't understand, if we all have the same culture, what would we have to fight about?"

His misundestanding was that we fight over culture, and you probably still think we do, what we really go to war over, is to steal shit.

As a graduation present I was given a gift of the Washington Report on Middle Eastern Affairs from my aunt.  It is a magazine published by a bunch of old school civil servants that worked in the Middle East telling you completely different things than our media did then and still does today.  It changed my view of the media but it established my belief that the Internet could be used to overthrow propaganda.

My misunderstanding was how lazy your generation would be about the gift we gave you.  You don't make any use of it.

For example, undoubtedly you've heard about all the rockets the Palestinians fire into Israel.  Guess how many people have been killed by them?  I'll give you a hint, you're 4 times more likely to be killed by a lightning strike, than you would be of being killed by a rocket fired from the Palestinians which are homemade, 99% of the time have no warhead at all, and are just a pathetic show of resistance.

You can easily verify that information, but here's the rub - you won't.

 

Your generation is too useless to try to save. Your parents could teach you nothing, and your children can teach you nothing.  Your generation is still the giant screaming child wanting everything, having no sense of responsibility, and still absolutely certain you're right in everything about everything.  Your generation cannot be educated, it cannot be made to reason.

Of course, with a FEW exceptions.

Mon, 03/04/2013 - 19:42 | 3299303 nmewn
nmewn's picture

Just be careful you know in advance who those "few exceptions" are before you meet them in person...some of these "old men" don't like to be fucked with and have experienced more in their long lives (both good & bad) than you will ever know...they wouldn't think twice about it...believe me.

"You don't get to be old bein no fool." -Richard Pryor

You need to learn to manage your anger & hatred, it shows weakness of character...if you're not careful with it, it'll eat you up from the inside out long before you can make any use of it.

Good luck young man...and lighten up...

http://www.youtube.com/watch?v=xN32qNJnppQ&list=AL94UKMTqg-9BXj4jzSE6pePdXEVSwxmEB

Sun, 03/03/2013 - 19:50 | 3296200 agent default
agent default's picture

Jackass

Sun, 03/03/2013 - 20:08 | 3296241 Awakened Sheeple
Awakened Sheeple's picture

Maybe he could be a bit more tactful. But as a 30 something pissed about my future and scared for my children's, I share his bitterness toward the boomers.

Sun, 03/03/2013 - 20:19 | 3296277 Midas
Midas's picture

I'm in the same boat as you, but I try to treat each boomer as an individual.  I used to wonder how the previous generations could let things get so bad, but look at the incredible bullshit that has gone on in the last ten years.  What have I done to stop it?  What could I have done?  Voting for Ron Paul just didn't get it done.

Sun, 03/03/2013 - 21:26 | 3296432 new game
new game's picture

news flash from boomer; it aint no bowl of cherries out there.

 

Mon, 03/04/2013 - 06:52 | 3297217 Pool Shark
Pool Shark's picture

 

 

A simple timeline for those with short memories:

1913: Federal Reserve created; 16th Amendment ratified (Income Tax)

1930's: FDR's New Deal programs; Social Security (beginning of 'entitlements')

1961: Ike's "Military industrial complex" warning (Cold War spending in full swing)

1964: Johnson declares "War on Poverty"; spends accordingly

1971: Bretton Woods system ended; fiat currency now reigns

(Note: all this was done before any significant number of "boomers" were born or eligible to vote.)

"We didn't start the fire..."

 

Mon, 03/04/2013 - 09:51 | 3297444 FEDbuster
FEDbuster's picture

The medicare and social security eligibility age should have been raised about one year every 10-15 years since inception (to correspond with longevity rates).  Instead of 65 for SS and Medicare, it should be 70 right now.  That would have solved the fiscal issues.  Not only was it set up as a Ponzi vs. a savings account, it was never indexed to life expectancy rates.  Current health insurance policies have lifetime caps, so should Medicare (say $500K?) that would end all this final year of life needless spending.  If you can afford to be kept alive that extra couple of months, then spend your life savings to buy the time don't stick the next generation with the bill.

Mon, 03/04/2013 - 02:54 | 3297065 Vlad Tepid
Vlad Tepid's picture

Good point.  As a thirty something meself, I spend most of my life watching my parents (boomers in general) working their asses off to give their kids the best life possible.  Lying cheating swine hadn't bilked their parents so how were they really to know that the whole economic system was a vampiric Truman Show with them as the patsy on everything from S&L, NAFTA, DotCom, Housing Bubble, bailouts?  You just do an honest days work and put money away in the bank, right?  Now that they know, they're ruined.  Their entire life is ruined.  My dad was the hardest damn worker I've ever seen in my life, and honorable too.  Now he and my mom are literally homeless, and he's working part time in a grocery store.  Should have been the twilight years....now just a Twilight Zone.

Sun, 03/03/2013 - 20:38 | 3296323 lasvegaspersona
lasvegaspersona's picture

As a boomer all I can say is that I woke up about the same time as most others here. For me it was April 2010. Why the fuck would anyone pay attention to all the political crap and the economy if they believed all the shit we were being fed was true...which I guess I did.

Most of us figured that Soc Sec and Medicare 'kinda' fucked up but never guessed they were complete Ponzis. 

Really, if it weren't for the Crash would you be paying attention to the actions of the Fed? Until 2010 I did not even understand fractional reserve banking...and why should i have?...you use the bank for banking...it seems to work...why should I have questioned it deeper? IT SEEMED TO BE WORKING AND MOST OF US WERE BUSY WORKING OUR OWN JOBS!!

Now I spend 4 hours a day trying to figure out when the whole thing is coming down. NOW it all seems like the most important time and thing in history.

Sun, 03/03/2013 - 23:00 | 3296688 Notarocketscientist
Notarocketscientist's picture

Ha ha ha .... you are still deep asleep buddy if you think socialized medical care is the problem.  In fact you are evidence that there is some albeit minimal, brain activity occuring in a person in a coma

Now go git your guns and ammo and your little sack of silver coins and wait down in the cellar till it's all over.

No go - git yourself down there asap. 

Mon, 03/04/2013 - 01:38 | 3296995 Freddie
Freddie's picture

It took you until 2010?  LOL!  maybe you would have at leats got a hint in 2008. But you are sheep boomer who probably watches TV and Hollywood's shit which enables your serfdom.  Keep watching sheep.  The old people are so dfamn stupid along with the youngsters who watch this media shit and enable it with their viewership. Keep wtahcing TV and Hollywood dumb ass.

Mon, 03/04/2013 - 06:24 | 3297200 rich_wicks
rich_wicks's picture

"As a boomer all I can say is that I woke up about the same time as most others here. For me it was April 2010."

Gee, when weapons of mass destruction didn't show up in Iraq, and it turned out binLaden wasn't at all connected with Hussein, that didn't tip you off?

When Scott Ritter, the former UN weapons inspector of Iraq, the former marine, and life long Republican told you that Bush was LYING, that didn't tip you off?  He was doing that in 2001.

When the People for the New American Century published a report saying we needed another Pearl Harbor BEFORE 9/11, that didn't tip you off?

 

The problem with the boomer generation is that you've been on autopilot all your stupid lives.  Anybody with any sense knew it by 2004.  It took you an additional 6 years.

You know why we fucking made the Internet?  So this shit wouldn't happen.  We made it possible for you to know ANYTHING.  That was a waste of my carreer.  I never knew how dumb people actually are, and they are dumb because they are lazy, not because they have any sort of defect.  You were too busy watching television to bother to do any research that has been made available to you for a decade.  Easier to listen to tee-vee, isn't it?

Mon, 03/04/2013 - 05:45 | 3297178 Dugald
Dugald's picture

Maybe he could be a bit more tactful. But as a 30 something pissed about my future and scared for my children's, I share his bitterness toward the boomers.

ASK NOT FOR WHOM THE BELL TOLLS....... 
Sun, 03/03/2013 - 19:53 | 3296207 stacking12321
stacking12321's picture

sometimes stupidity isn't worth responding to.

also, it's ironic the cowardice you show, blaming other people for the world's problems, instead of taking responsibility.

especially so, given the writing of mr. pelerin, it's clear he's not the problem and sees the situation clearly.

and what have YOU done to fix the financial mess, and end the dishonesty / ponzi scheme?

Sun, 03/03/2013 - 19:54 | 3296210 Mike in GA
Mike in GA's picture

I gladly downrated you on your first asinine comment and vehemently on your second.  I only wish I could vote you off the screen - your contribution is so immature I don't even want to be in the same playground as you.

Good luck, Mr. Race Car Driver, on you and your generation's attempt to fix what ails your life.  I had no part in it any more than the spoke of a wheel can change direction of your tricycle.

Thanks for nothing, asshole.

Sun, 03/03/2013 - 20:56 | 3296358 NoDebt
NoDebt's picture

Mike (and others), I agree that was a pretty nasty comment.  You can also expect to hear more of them over the coming years as the situation gets inevitably worse. 

The young will resent the old for their government checks because it comes from their taxes.  Or, if you prefer, we can continue to pay for it by printing money and drive up inflation (not the situation I would suggest if you are living on a fixed income).

At it's core, the older generation was over-promised by tying their benefits to the high water mark of returns only made possible by massive credit spending.  That's over and so are the returns it forstered.  What was already going to be a dicey situation with the boomers coming up on retirement, and average lifespans extending FAR beyond benefit eligibility age (even if things went perfectly in the economy) is now clearly all shot to hell with the end point of credit promises having been reached.

Promises made to you will be broken or scaled back.  I am sorry.  I truly am.  But please keep in mind that promises made to the younger generations aren't even worth the breath it takes to speak them, while their taxes will rise.  There is only pain and arguments over it's apportionment ahead of all of us.

What is sad about this is that both young and old feel justified in their positions.  In fact, both are.  Older generations will see their payments fall well behind inflation (unfair).  Younger generations will see any semblance of disposable income taxed away from them if they can find a job at all (also unfair).  We're all going to be arguing over what piece of a stagnant to shrinking pie we get.  And that BREEDS the kind of comment you got from Mr. Douchebag up top there.

In short, this would be a really good time for a game-changer that shatters that ugly model.  Where's cold fusion when you need it?

Mon, 03/04/2013 - 00:12 | 3296861 DCFusor
DCFusor's picture

Best comment on ZH I've seen in awhile, NoDebt.  I'm working on coherent fusion myself (it's cold in one way, hot (velocity) in another).  No promises, though we're doing better every period.

The real question: would abundant cheap energy actually solve most of the worlds problems, or simply enable people's worst behavior?  Would we simply burn ourselves to a crisp, not with greenhouse but simply the energy expenditure (it has to go somewhere).  While it was my dream, long ago, and now something I DO, and self-finance (high risk, high payoff) - I now sometimes wonder, having learned a little too much about humanity.

I'll let you know when it really works, it's already at the "dangerous" point - it's not healthy to be near a fusion reactor of mine when it's running.

 

Mon, 03/04/2013 - 03:00 | 3297068 Vlad Tepid
Vlad Tepid's picture

Godspeed and stay way from hot tubs.

Mon, 03/04/2013 - 08:14 | 3297299 rich_wicks
rich_wicks's picture

"The real question: would abundant cheap energy actually solve most of the worlds problems, or simply enable people's worst behavior"

Haha. Seriously, you're asking that?

OK, imagine you're from a species that doesn't have to do anything harmful to any other species in order to live.  You have the power to destroy the species, or to leave them alone, or enslave them.  You have no need to use them.

Will you?

Of course you will.  You have no need to eat meat, but you do and you will continue to do so.  You'll scoff at the very notion of even thinking there might be a moral issue at all.

Look at how we treat other people.  Woman with brown skin speaking a funny language, saying how Americans killed her husband and child, blew up their house with a drone strike.  99% of the nation flips to the channel.

Free energy would destroy the planet.  The only things we allow to live is what is useful to us.  There are about 400 million dogs on the planet, man's best friend, and 7.5 billion people.  That's one dog for 18 people alive.

Absolute power corrupts absolutely.  Unlimited power does too.

Malthus was right.

If the only ultimate check on the growth of population is misery, then the population will grow until it is miserable enough to stop its growth.

and:

any technical improvement can only relieve misery for a while, for so long as misery is the only check on population, the [technical] improvement will enable population to grow, and will soon enable more people to live in misery than before. The final result of technical] improvements, therefore, is to increase the equilibrium population which is to increase the total sum of human misery

We're a fucked up species.

But every species is.  Yeast will reproduce in a bottle until they are killed by their own waste in the environment.  Deer will overgraze and overreproduce until they are staving in the absence of predators.

We'd be the first species to not do that, the only species not to do that, if we were sentient, and of course, very very few of us are.  We don't generally really think.  We just believe we think because other people told us that we do.

Mon, 03/04/2013 - 06:28 | 3297204 rich_wicks
rich_wicks's picture

"Older generations will see their payments fall well behind inflation (unfair)." 

Really?

In 1980, the maximum amount of money witheld per year for a paycheck for Social Security was $2,000 a year.

I pay over $14,000 today.  About what I'm allowed to put into a 401K.

The boomers didn't pay for their retirement, and they don't deserve a check.

Mon, 03/04/2013 - 07:29 | 3297226 Pool Shark
Pool Shark's picture

 

 

How much is that $2,000 from 1980 worth in 2013 dollars?

(btw, I was living in my own apartment in Southern California, had a brand new car, and was puting myself through college in 1980 on a salary of only $13,000.)

As a very young boomer, I realize that I have no chance of ever breaking even on my Social Security taxes (even without interest) unless I live to 110. I've calulated that if you let me out of SS (never collecting benefits) and let me keep only the payroll taxes I will pay from now to retirement, and I let the feds keep all the money I've paid in my entire life to date (and I've worked full time since 1980) I would be way ahead of the game.

I've known my entire working life that SS is a Ponzi scheme, and that I'd never see a return on it; and I've voted accordingly... it didn't work.

So what are the Gen X'rs prepared to do to end it?

Mon, 03/04/2013 - 07:54 | 3297275 rich_wicks
rich_wicks's picture

"How much is that $2,000 from 1980 worth in 2013 dollars?"

I don't pay attention to the BS CPI, but I remember gas was less than a $1.00(or perhaps around?) because my father complained about it, 10K a year was consididered povery.  Also $14,000/ $2,000 is 7.  Multiple 7 by 10K and do you get poverty level today?

You generation doesn't DESERVE social security.  You didn't pay for it.

We are paying for it.

And guess what, we don't make enough money to pay for it.  Enjoy the bed you've made.  If you think it's so fucking tough o you, try to be me, or somebody younger.  We're fucked.  We don't even have a Consitution.  The 4th, 5th, and 10th amendments are gone.

In 1980, the national debt was about 1 trillion dollars, a little less.  It's gone up about 9.4% a year, every year, since then.  It will be over 25 trillion by 2020.  In 1980, if you divided the national debt by federal tax revenue, you got 55.  I.E. that if federal inerest rates on the national debt were 55% it would consume all tax revenue.

Today it's 14%.  If you raise the interest rate to 14% on the national debt it consumes all tax revenue.

Oh, and get this, I remember Paul Volker raising interest rates to 18%.  That killed the gold and silver rallies, well, was part of it.  That's not going to happen this time.  This time, the dollar is going to 0, the economy is going to be destroyed, and the Federal government is going fascist to try to stay in power.

That's what I'm facing and your generation dominates the media and the government.

So don't blame your generation?  Hardeharhar.

Sun, 03/03/2013 - 22:58 | 3296682 Notarocketscientist
Notarocketscientist's picture

Baby boomer generation =

> pigs gorging on entitlements

> people who vote for whoever gives them the most free shit

> morons who drive monster trucks with gun racks

> 1 in 2 has diabetes

> 1 in 2 is grossly obese

> all criticize the current generation - guess who raised the current generation?

Sun, 03/03/2013 - 20:37 | 3296313 Real Estate Geek
Real Estate Geek's picture

   Mbbe you old fucks should have done something about the problem, oh, you know, way the fuck back then.

What should they have done differently than what this generation is doing?  Voted Team Blue/Red instead of Team Red/Blue?  Waste of time; they're both the same.

Voted in a third party who would have cleaned house?  Yes, but this gen also could have done that too.  So maybe the young fucks should have done something about the problem, oh, you know, way the fuck back in November.

 

Try not to let yourself be used as a tool in their game of divide and counquer.

Sun, 03/03/2013 - 20:56 | 3296359 sskid
sskid's picture

The young fucks are doing something....blaming the old fucks

Sun, 03/03/2013 - 21:47 | 3296477 Excursionist
Excursionist's picture

In this particular case, blame is being meted out fairly but in insufficient quantities, in my humble opinion.

Baby Boomers have been like an insatiable swarm of locusts plaguing the planet.  The generation has leveraged its numers to vote in its self interest with little regard to preceding or succedding generations.  Reform medicare and medicaid?  Fuck you!  Authorize Fannie Mae to start buying private mortgages in 1970 to (effectively) subsidize housing?  Absolutely!  Actually pay for their kids' college educations rather than asking the kids to enter indentured servitude to get a higher education?  Fuck you!  Spend too much, save too little and expect their kids and grandkids to pick up the tab in the "golden years"?  Absolutely!

Look - Monty Pelerin is right about what's screwed up with the macro environment, but the second he framed the situation with a generational lens he made me want to say, "Cry me a fuckin' river!  And fuck you and the 1948 horse you rode in on!"

What are the young fucks doing about this?  Nothing.  Because Gen X and latter kids are (i) outnumbered in the polls and (ii) too fucked up by their absentee, self-interested parents.  Exceptions to this?  Yes.  But definitely representative of the generational situation.

Boomers just need to die off, so the rest of the world can begin trying to pick up the pieces.

Mon, 03/04/2013 - 01:03 | 3296947 stacking12321
stacking12321's picture

i reject your notion of collective guilt.

if you feel otherwise, and pay any federal taxes, please lock yourself up in jail as an accessory to murder, as your money is financing the killing  of (relatively) innnocent people without trial through drone strikes.

Tue, 03/05/2013 - 01:44 | 3300061 Excursionist
Excursionist's picture

Reject the collective guilt all you want - doesn't absolve you of it.  Only makes you delusional.

Re: Drone Strikes.  Idiotic idealists should explain how exactly they envision taking a Yemeni bad guy, domiciled in that wonderful shit hole, through due process.  I'm on pins and needles to hear a cogent thought..

Tue, 03/05/2013 - 17:10 | 3302147 stacking12321
stacking12321's picture

taking a Yemeni bad guy

not everything is ours to "take", and a nation that doesn't respect the sovereign borders of other countries deserves to be destroyed.

also, who gets to determine whether someone is a "bad guy"?

in a society based on rule of law...well, never mind, it's clear you don't believe in the rule of law or other democratic principles - you may want to give north korea a try, it would be your kind of country.

Sun, 03/03/2013 - 21:09 | 3296369 lasvegaspersona
lasvegaspersona's picture

Bullshit...let me explain politics to you:

Grover Norquist runs a meeting for conservatives in DC...the Wednesday meetings. A few years ago HILLARY! said she thought a meeting for lefties like Grover's would be a good idea. Here is what Grover had to say about that: I paraphrase..."Our meetings are a bunch of 'Leave Us Alone' folks who are trying to avoid the grasp of the hungry collective. We are just trying to limit government's intrusion in our lives. The left on the other hand looks at the pie on the table. They then look at the others at the table and try to figure how THEY will get their share of the pie knowing that they compete with everyone else at the table. They do not get along. They just want the fruits of the ever growing government pie. They must outwit all the others in their 'coalition'."

This is why I say: All Democrats are bad...every single one...they will not ever leave me alone! Many Republicans are like them too. If there are good politicians however they will be Republicans. The Club for Growth tries to find and support them. That is why I support the Club. I am not a die hard 'R'. I just want to be left alone. I want to enjoy my freedoms and I do not want to have to constantly struggle to keep them....tough shit however as now I must get in there and fight. And you should too.

That said:      I believe the currency will collapse. It will change many things. Hopefully the ability of governments to run Ponzi/Socialist scams will be the first to go. I think that is what is happening in Europe. The ECB is limiting the amount of money it produces and governments are now being forced to deal with real limitations. They can't keep promising pie in the sky because they are finally limited by what they can steal from the future....by the ECB!

Yes I know this is ZH hersey but look at what is happening in Spain. It is the Spanish who demand more borrowing from the ECB. The ECB is saying no. They are sticking to their sole mandate....keep inflation low. The ECB has no dual mandate...no wiggle room like the Fed has.

We are going through the most exciting, opportunity filled time in monetary history. It is an ugly time but I plan to enjoy the show. I am  only in the market enough to hedge in case I am completely wrong. Mostly I save in physical gold, keep my head down, keep working and paying taxes.  Soon I'll know if I'm a genius or just a crazy old fool who watched too much monetary porn. No matter what, I have gotten a pretty good education about how things work (or don't).

Sun, 03/03/2013 - 22:50 | 3296671 Notarocketscientist
Notarocketscientist's picture

If you think the GOP is any better than the democrats they guess what - you are a FUCKING RETARD.

Sun, 03/03/2013 - 23:50 | 3296819 Ident 7777 economy
Ident 7777 economy's picture

 

 

U R stoopid ...

 

What part of: "Our meetings are a bunch of 'Leave Us Alone' folks who are trying to avoid the grasp of the hungry collective. ... "

 

DO YOU NOT GRASP?

Sun, 03/03/2013 - 22:48 | 3296666 Notarocketscientist
Notarocketscientist's picture

This is a great example of how the blame game gets played out - who gets to be scapegoat?

We can see how quickly the elites could manipulate you using Edward Bernay's techniques so that you donkeys quickly turn on each other with your GUNS AND AMMO...

Instead of turning on those who really caused this. 

Heck we are all along for the ride - the manipulators have PR and psychology on their site - there is no fighting back - they completely maniuplate the outcomes and like pavlov's dog we play along.

So don't blame each other - blame the manipulators.  Address that situation.

What are the odds of that?  Virtually nill.  Because they have the ghost of Eddie Bernays on their side - and we are like donkeys with our heads butting against the wall - most of us don't even know we are being manipulated.

 

Mon, 03/04/2013 - 06:31 | 3297205 rich_wicks
rich_wicks's picture

"What should they have done differently than what this generation is doing"

Isn't this the generation that stopped the Vietnam War?

Wait, aren't they also the generation that voted in a bunch of people to make the drugs they used illegal?  And also allowed mandatory federal sentencing?

Hey, aren't they the group that were saying make love not war in 1970 and greed is good in 1980?

Just a minute - aren't they the ones that wanted to bomb Iraq in the 1990s?

And 2000s?

This is the generation that basically always got what they wanted.  Look at where we are as a result.

Now they want somebody to pay for their retirement, and they'll goddamned setup a police state to do it.  The same generation that tossed Nixon for lying about a buglary is doing this.  You do realize they are the ones running both the government and what is called the "establishment" media today - right?

Sun, 03/03/2013 - 21:12 | 3296389 formadesika3
formadesika3's picture

- Mbbe you old fucks should have done something about the problem, oh, you know, way the fuck back then.

Oh you mean like when we were kids riding bikes and playing baseball? Or when we were teenagers chasing girls and obsessing over cars? Or when we were cramming to get good grades and graduate college? OR when we trying to start families and taking out house loans? Or when we were trying to save for our kids' college and keep our shit job?

Yeah, maybe we should have.

Mon, 03/04/2013 - 01:08 | 3296951 stacking12321
stacking12321's picture

and maybe you shouldn't be having kids in the first place, as they, like you, are redundant.

a copy of a copy of a copy.

you are not a unique and beautiful snowflake.

Mon, 03/04/2013 - 03:40 | 3297101 Brit_Abroad
Brit_Abroad's picture

Tosser

Go crawl under a rock and die.

'bought all your good for.

Take a few steps back and really look at what you wrote.

Mon, 03/04/2013 - 12:56 | 3298029 formadesika3
formadesika3's picture

Did you ever study biology, princess? Of course, I and they and we all are copies of copies of copies. It's a biological imperative to reproduce.

Of course as human beings we have a conscious choice in the matter that other creatures don't. You can choose not to reproduce if that's your desire and I encourage you to do so. From all indications, it appears the world would be a better place without more copies of you.

Mon, 03/04/2013 - 14:43 | 3298390 rich_wicks
rich_wicks's picture

No, I think he means when you were an adult.

I don't think most of your generation ever went through that phase.

Your generation is the most retarded about politics in this country hands down, by far.  My parents are from the Silent Generation.  They voted for Ross Perot.  They see the corruption of the two party system.  They know it's been like this since 2000 at least.

But your generation by and large does not.  1/2 of you are screaming about what a crappy president Bush was but defending Obama when he does the exact same thing, the other 1/2 is screaming that Obama is terrible and that they voted for Romney even though Romney is the white mormon clone of Obama.  Most of you are worried about issues like gay marriage, and not one of you thinks about foreign policy, bailouts, fundamental consitutional rights, and economic policy as being important at all.  Nope, it's just gay rights and flag burning apparently.  That's enough to get the dumb ignorant masses to vote in dumb ignorant ways.

 

Just how blatantly obvious does it have to get?  Pretty fucking obvious apparently.  I can tell you that the younger people are, the more aware of the fact that the Democrats and Republicans only differ in their bullshit, and do the same exact thing.  How can they spot the obvious and your generation still be almost 100% ignorant of it?  How is it even possible to be at all politically engaged and still be TOTALLY ignorant about the fact the Obama kept EVERY policy of Bush?

Oh, I know how, you get your news from teevee and what I use to clean up dog shit with.  The Internet is the most powerful research tool ever made by mankind, and is the most monumental dvice for education ever made.  Very few of you make use of it and the older you are, the more likely you are just to find a place and engage in group think if you use it at all.

Mon, 03/04/2013 - 21:50 | 3298694 formadesika3
formadesika3's picture

^^

Read the above comment and have a good laugh.

This is the sort of person whom you pass warily on the freeway while at the same time trying to read the bumper stickers plastered over every square inch of automobile surface.

Tue, 03/05/2013 - 02:18 | 3300085 rich_wicks
rich_wicks's picture

Mindless ridicule is also called an ad hominem attack.

I'm not wrong about the generation.

Look at who is running the nation now.  Look at what generation they are from.

And the boomers RALLY around these people as saviors.  The most corrupt, most dispicable people run the nation today.  Hillary Clinton is a total neocon whore.  Obama didn't overturn a SINGLE policy of Bush.  These are the liberal ICONS today.

And what the Republican icons?  Well Bush, who started nation building and lying us into war.  Mitt Romney that warned us of an Islamic Caliphate.

These people are jokes.  They are the best that the boomer generation has to offer for leaders.

Ron Paul is from the silent generation. 

The Boomer generation is so full of shit, it drips out of every orifice of their bodies.  They are the most aimless, dishonest, selfish, and oblivious generation in the world.

Tue, 03/05/2013 - 15:35 | 3301760 formadesika3
formadesika3's picture

Of course an attack on an entire generation of people is not ad hominem. LOL.

Sun, 03/03/2013 - 21:32 | 3296446 The Miser
The Miser's picture

Easy to blame the old folks. 

Sun, 03/03/2013 - 22:39 | 3296635 Notarocketscientist
Notarocketscientist's picture

Fuck all these baby boomer rat bastards.  

It is you fuckers who voted in these assholes who created this goddam mess.  Ya you wanted to live like goddam rock stars and you have bankrupted the country in the process. 

And you greedy pigs weren't satisfied with that .... no sireee ....  now it's your generation that is stealing EVEN more so you can get your 100k per annum pensions and other perks.

And now we are paying the price - and you are all just praying that the can be kicked a couple of decades more - so you can continue to get treatment for your diabetes and the other diseases of living the life of a FAT FUCK - kick that can a bit longer so you can collect on your big FAT pensions...

Fuck everyone else - it's all about ME - I want to live large right to the very end even if it means putting the next generation into the poor house.

 

 

Mon, 03/04/2013 - 00:21 | 3296881 Rusty Diggins
Rusty Diggins's picture

Captain Rusty and all the executive crew love it when the scurvy crew fights, makes the whole mission easier.  Now eat your fuckin kraut and boiled pork  you dogs (and race car mechanics and nano rocket scientists)

 

 

And blaming mommy and daddy should be done in your therapists office you dicks.

Mon, 03/04/2013 - 01:32 | 3296983 Freddie
Freddie's picture

Well baby boomers and seniors should be called the Most Gullible Generation. The stupid **cks enabled their demise by watching TV and Hollywood crap.   These tsupid old sheep along with young sheep are easily manipulated by TV and Hollywood which loves Obummer.

They are too stupid to pull the plug so they sort of get what they deserve.

Sun, 03/03/2013 - 19:51 | 3296162 JustObserving
JustObserving's picture

Bernanke wants you invested in the stock market so everyone feels richer.  That is the fast and easy way to goose the economy - the wealth effect.

And since our debts are too high, you can only receive a tiny return in fixed income markets. At normal rates of return, the US of A cannot service its debts.

Bernanke competes with savers when he buys US Treasuries.  And he helps the stock market by keeping interest rates abnormally low.

All savers are victims of the Bernank. And stock market investors are beneficiaries of the Bernank.  Nothing is going to change anytime soon.

Sorry, you are a victim of an irresponsible Fed (possibly criminal) beholden to the banksters.

Sun, 03/03/2013 - 19:35 | 3296165 czarangelus
czarangelus's picture

Pshaw. For one thing, I'm not going to die before getting my mitts on a sweet, sweet Playstation 4, old man.

Mon, 03/04/2013 - 00:25 | 3296893 Cornfedbloodstool
Cornfedbloodstool's picture

+1 Hillarious

Sun, 03/03/2013 - 19:39 | 3296175 surf0766
surf0766's picture

Greedy generation. Blew so much nose candy then blew all the bubbles from the past 40 years.They deserve everything they get.

Sun, 03/03/2013 - 21:02 | 3296372 sskid
sskid's picture

Really?  All I have ever gotten was increasingly bigger tax bills...I was just a kid in the sixties when medicare and the war on poverty, cancer and all the rest of the bullshit started.   My grandparents benefitted, my parents somewhat, but I don't have this psychotic hatred for those generations that these "young Fucks" seem to have.

 

Sun, 03/03/2013 - 21:21 | 3296415 surf0766
surf0766's picture

I am not one of the "young fucks"

Mon, 03/04/2013 - 06:39 | 3297211 rich_wicks
rich_wicks's picture

I pay over 50% of my income to taxes.

I never expect to see social security.

See, cry me a river about your "big taxes".

Oh, and a home where I live cost about 7 times the average annual salary of where I live.

Boo hoo.  Your life has been tough..

Sun, 03/03/2013 - 22:02 | 3296528 formadesika3
formadesika3's picture

I blame my grandparents and great-grandparents generation back in the 1930s and 1900s. They fucked up things bad for everybody now alive. They should be strung-up by their heels from lampposts and beaten bloody with baseball bats.

Wait a minute, they're all dead! Rotting in their graves. Oh well, wtf, we should dig 'em up and give 'em a hemp necktie anyway and yes, beat the hell out of 'em til their heads fall off. It'll be messy, will take a strong stomach but heck, it's the only decent thing to do.

Sun, 03/03/2013 - 19:44 | 3296186 fonzannoon
fonzannoon's picture

so stock market or no stock market. Those are my ONLY options...that is quite the conundrum.

Sun, 03/03/2013 - 19:53 | 3296209 in4mayshun
in4mayshun's picture

Or, thanks to JPM, you can take advantage of subsidized gold and silver prices...

Mon, 03/04/2013 - 06:54 | 3297218 rich_wicks
rich_wicks's picture

So can you.

Look, that national debt has gone up 9.4% a year every year (on average) for 41 years.  Just take 16.7 trillion and multiply by 1.094 and you have next year's national debt - keep doing this.  We'll be at 20 trillion (easily) by 2017 in this month.  We'll be over 25 trillion by 2020.

Either our government defaults on the debt, OR it drastically devalues the dollar and gets wage inflation - those are the good possibilities.

We are at war because we are trying to scramble to get resources and we have a military to try to protect them.  If you think the US can force other nations to continue to consume their debt, then pm's aren't a good bet.

But I expect that gold will go back to it's historical low against the national debt, that's 1.53 billion ounces = the national debt.  Silver will do the same, where 40 billion ounces = the national debt.  If this happens in 2020 or so, you can expect gold to be 18K an ounce, and silver to be about $700 an ounce.

Don't worry about it, just don't go into debt to collect it because there are going to be some VIOLENT swings between now and then.  We're going through one now, there will be more, and they will be worse.

Sun, 03/03/2013 - 19:54 | 3296208 GMadScientist
GMadScientist's picture

You overlook the very real possibility that both drivers are chickens and swerve in the same direction.

 

Sun, 03/03/2013 - 20:48 | 3296339 A Lunatic
A Lunatic's picture

Some States allow a person to collect roadkill for consumption...........

Sun, 03/03/2013 - 19:55 | 3296211 stormsailor
stormsailor's picture

i'm so choked up about the depression children and wwii babies.  my parents, spoiled absolutly, wasted everything absolutly.  when kennedy's head blew off, they all watched, but did nothing, and in my humble opinion. that was the singularity of when our country was taken, without a single demonstration.  there were protest over the war years later but not from that generation.

 

i know the federal reserve started in 1913, and i do not understand how that was allowed to stand however i understand that wwi and the spanish flu, and depression, and wwii kept that generation busy.

 

my parents were assholes,  and are still taking.

Sun, 03/03/2013 - 20:52 | 3296351 JustObserving
JustObserving's picture

when kennedy's head blew off, they all watched, but did nothing, and in my humble opinion. that was the singularity of when our country was taken, without a single demonstration.

When 3 steel-framed buildings collapsed at free-fall speed into their footprints on Sept 11, 2001, 3000 Americans died, the US was completely taken over.  There were no protests though everyone knows it was an inside job.  History repeats.

 

Sun, 03/03/2013 - 21:38 | 3296461 stormsailor
stormsailor's picture

the magic bullet theory,  wtf is that.  and arlen specter was still in congress until 2010.  when the corrupt skidmark swapped from repub to democrat.   thats how old this damn problem is.

Sun, 03/03/2013 - 22:53 | 3296640 Jugdish
Jugdish's picture

Fine. Look you old bastard. I'll do somethin when I get through the rest of these free amputee porn vids. You old hippie bastard, go smoke a joint and get off my back. Building 7 nigggggggaaaaaaaa.

Sun, 03/03/2013 - 19:58 | 3296220 blindman
blindman's picture

Daniel Gauntlett made “the fatal decision to abide by the law”
Posted on March 3, 2013 by stacyherbert| 9 Comments
A 35 year old man in Kent froze to death after he made “the fatal decision to abide by the law” and not break into an abandoned home due to be demolished in a few days.
Here’s the Artist Taxi Driver with his powerful take on the story:

http://maxkeiser.com/2013/03/03/daniel-gauntlett-made-the-fatal-decision... aw/comment-page-1/#comment-619457
.
Beppe Grillo – The Man Who Knew Too Much
Posted on March 3, 2013 by TearsOfTheMoon
.
http://maxkeiser.com/2013/03/03/beppe-grillo-the-man-who-knew-too-much/
.
http://maxkeiser.com/
.
Wealth Inequality in America
http://www.youtube.com/watch?v=QPKKQnijnsM
.
Money Jungle - Duke Ellington's classic in the original and an orchestral version
https://www.youtube.com/watch?v=crZMo4G4J8I

Sun, 03/03/2013 - 20:14 | 3296254 GMadScientist
GMadScientist's picture

As always, i am indebted to your vast knowledge of tunes.

grazi, blindboy

Sun, 03/03/2013 - 21:37 | 3296460 blindman
blindman's picture

i post links from a variety of other "linkers"
so the credit belongs to them, these friends
do have a wide and excellent taste for the good stuff!
so much so that it inspires me to share if it is
possible, thank you.

Sun, 03/03/2013 - 19:58 | 3296222 eddiebe
eddiebe's picture

You're right race car driver, one of the things we could have done is not to sire you! Put your actions where your big mouth is now that you're here and do something worthwhile and show us old fuckers what you're made of.

Tue, 03/05/2013 - 02:29 | 3300097 rich_wicks
rich_wicks's picture

Yes, thank you for siring us, and selling everybody into poverty, then claim "I had absolutely nothing to do with it, I take absolutely no responsibility whatsoever".

As long as we get them terrorists, anything is worth the cost, even though the whole thing is because the US won't get the fuck out of the Middle East, and you chickshits are so deathly afraid of a terrorist plot in the middle of podunk nowhere.

Yes, we all owe you fucks a lot.

You collectively have absolutely no civic responsibility at all.  None.  You'll go down in history as the laziest, worst generation the world has ever seen because that's what you are.  You'll be viewed in the same way as the Germans of 1939 because that is what you are.  You're the brownshirts.  Everybody else is telling you that you're wrong, but you won't listen and you think you'll be dead before the shit hits the fan, so what the fuck do you care?

Sun, 03/03/2013 - 20:06 | 3296238 AgShaman
AgShaman's picture

"Wait, what, you mean you didn't order the 'Metallic Pee'?"

Sun, 03/03/2013 - 20:08 | 3296243 NoWayJose
NoWayJose's picture

The risk is in long term treasuries and equities. The only practical solution for baby boomers is to hold cash, short term treasuries, and physical gold or silver. PM's will give you inflation and collapse protection, while you at least do not lose money with the rest. Otherwise, pick some solid stocks with international exposure that pay a decent dividend, and hold on even when the market drops.

Sun, 03/03/2013 - 20:15 | 3296259 GMadScientist
GMadScientist's picture

Spend it all on things you know you'd want after the end comes anyway (wine, cigars, pretty much anything that won't spoil before you can get around to enjoying it).

 

Sun, 03/03/2013 - 22:18 | 3296578 Jungle Jim
Jungle Jim's picture

I hold physical gold and silver. In fact that's just about ALL I hold now. Freaking great, heavy pirate's chests of the darned stuff, buried deeply here and there, especially in cemeteries and swamps. ("X marks the spot.")

And all I've seen it do for two years is depreciate in value faster than a used car. It looks poised to plunge lower, a LOT lower.

I'm tired of hearing words and terms like "in time," "eventually," "ultimately," and "someday." Yeah, like the song says, "Any day now my ship will finally come in." 

 (Well, there *was* a house too. All paid for and everything for nearly thirty years now. But the nursing home will shortly take that. Or rather the State will take the house and give the proceeds to the nursing home.)

Frankly, I wish I'd stayed in cash.

Sun, 03/03/2013 - 22:35 | 3296627 akak
akak's picture

Why is almost every adult in the USA (and apparently in most of the Western World) regressing into an ADD-afflicted, short-term-focused, impatient teenager?  I have literally no patience for those with no patience.

Mon, 03/04/2013 - 02:16 | 3297036 FreeMktFisherMN
FreeMktFisherMN's picture

Gold is the most conservative asset. It is the surest way to  lock in wealth, so to speak. I view the FRN and Treasuries as Jim Grant does: return-free risk. I believe the USD is a risk asset, whereas gold is about preserving-and usually enhancing, as productivity increases meaning a lot more goods/services with relatively stable gold supply-purchasing power. This recent slide in gold has happened while crude has also tumbled from near 100 to a 90 handle. So incrementally your gold coin still buys the same amount (actually more, as oil fell more %-wise) of gallons of gas. If one thinks they are nimble enough to sell out and get into dry cash right at the top (pretty much meaning one has inside info) and then buy at a 'perfectly timed' bottom, then yeah they will be taking advantage of the USD being a risk asset. But gold is not a risk asset. It is and always has been money. Holding physical PMs is the only way not to get hosed, like say those Venezolanos a few weeks ago. And Kito's theory on buying up PMs on the cheap I do not believe to be sound, because unlike in the Great Depression, we do not have the industrial capacity/productivity to back the dollar. We're no longer an economic powerhouse. It's all about borrowing and consuming, so I believe interest rates spiking ends the extend and pretend, as opposed to the MSM lemmings' narrative that 'rising rates means the economy is set to let go of the Fed's training wheels QE'. The Fed will just print more money as that is ultimately all it can do.

 

Bottom line is I save in gold and silver. Inflation has been exported abroad but those emerging nations like BRICS are drowning in it and will send it back to our shores and start trading amongst themselves barter style or with gold, bypassing USD/petrodollar.

Sun, 03/03/2013 - 20:24 | 3296293 kraschenbern
kraschenbern's picture

Looks to me like a notice there's a fork in the road up ahead:  be a part of the collective - or learn how to be independent.  Choose wisely.

Sun, 03/03/2013 - 21:39 | 3296462 stormsailor
stormsailor's picture

when you come to a fork in the road, take it.    yogi berra

Mon, 03/04/2013 - 00:02 | 3296845 GMadScientist
GMadScientist's picture

it sounds nonsensical, but there's something to be said for avoiding the paralysis of hemming and hawing about choices that are of little consequence.

that yogi was pretty smart for a dumb guy.

Sun, 03/03/2013 - 20:33 | 3296300 socalbeach
socalbeach's picture

I heard similar types of verbal attacks on older people from some of the younger ones in the Ron Paul campaign.  Kind of silly considering Dr Paul was 76 at the time.

Sun, 03/03/2013 - 20:31 | 3296307 Oldwood
Oldwood's picture

Justifying staying in the markets because it is the only game in town is just another rationalization of corruption. Corruption exists and works because it creates a circumstance where it is more profitable to be in than out. I know I'm losing money by being out and I probably have a lot less to play with than the author, but I will not contribute one thin dime to this disaster. The very fact that people like this can rationalize their actions is how this monster persists and will eat us all, be we in or out. These corrupt bastards are only capable of doing what they are doing if we PARTICIPATE! This has to stop! Does no one have the courage of their convictions? This fucker will ride this thing to hell taking the rest of us with him because afterall, he has needs. Maybe he will get a 5% return on his clown bucks. Anyone investing in this mess is directly responsible for what happens.

Sun, 03/03/2013 - 21:06 | 3296382 Island_Dweller
Island_Dweller's picture

The founding fathers pledged their lives and their fortunes, you think the least we could do is pledge to stay out of a corrupt market.

Sun, 03/03/2013 - 21:50 | 3296496 Mike in GA
Mike in GA's picture

"Lives, fortunes and sacred honor" they pledged.

There is most definitely very little honor today, certainly even less sacred.  To claim either would open one to public ridicule as if a standard of conduct and behavior exists.  In this 'anything goes' society today, to stand up, to attempt to rise above the surrounding collective is to attract a public beat-down by the likes of Dennis Rodman, Bill Maher, Rachel Maddow and Obama.

Wed, 03/06/2013 - 23:48 | 3307584 Mediocritas
Mediocritas's picture

Well said Oldwood, well said. I have committed to the same course as you.

Another thing to consider is that being entirely out of this bullshit market is actually very relaxing. That's worth something. I'm seeing loads of boomers agonizing about what to do, making repeated trips to their (idiotic) financial advisors about where to put their money so they can scrape their annual 5% clown bucks and enjoy retirement.

Why bother? Just more stress that shortens one's life.

From the moral perspective, choosing to participate in something that one know to be wrong just because everyone else is doing it makes one weak and just another of the bad guys. Like joining in on a gang rape because everyone else is doing it.

Fuck that. Grow a pair and abandon the scam of credit and fiat currency. It's easier and more relaxing than you think. The author of this headline post is just another coward.

Sun, 03/03/2013 - 20:35 | 3296314 Schlomo Bergstein
Schlomo Bergstein's picture

"Today, the future does not look so bright."

What does he mean? The future looks so bright with the prospect of nuclear war that I gotta wear shades.  

Sun, 03/03/2013 - 20:34 | 3296315 lynnybee
lynnybee's picture

"financial chicken" ... this isn't financial chicken !  this is preplanned, deliberate economic take-down & looting of our savings & what little wealth some of us managed to accumulate over the years despite inflation & currency devaluation.   Wall St. should have died in 2008, instead, they looted the rest of us.    not only are they harming the older people, they are stealing the inheritances of our kids & grandkids .... don't get me started.   FAIL, YOU S.O.B'S , come & get the guns from me, you thieves & liars! 

Sun, 03/03/2013 - 21:12 | 3296392 Law97
Law97's picture

"Wall St. should have died in 2008, instead, they looted the rest of us."

That right there is the history of the last five years in one sentence. 

Sun, 03/03/2013 - 22:09 | 3296558 Kirk2NCC1701
Kirk2NCC1701's picture

Your comment makes for an interesting if conspiratorial possibility:  What if the "W" team had actually wanted to achieve that very thing -- take down the system?  Only Obama stepped in and, thanks to his band of monetary & fiscal advisers (who could not allow this to happen), they kept the Ponzi going.  Probably not a conspiracy, but it leaves room for one (in a novel or movie).

Sun, 03/03/2013 - 22:31 | 3296620 thewayitis
thewayitis's picture

Why we all need Gold/Silver ......

Sun, 03/03/2013 - 20:38 | 3296321 fiftybagger
fiftybagger's picture

My oh my, All that hand wringing and analysis when the answer can be summed up in 2 words:

physical silver

Silver For The People

Sun, 03/03/2013 - 20:52 | 3296349 nmewn
nmewn's picture

Good Lord man!!!

You can't be allowed to save your own labor in unencumbered assets! It must be churned back into the stock ponzi with everyone completely unconnected to your labors skimming off the top...through fees, levies, taxation (again) at your own risk for da good of the Fadderland! 

+1 ;-)

Sun, 03/03/2013 - 20:39 | 3296325 lindaamick
lindaamick's picture

I am one of these baby boomer types raised and educated by the WWII nationalistic crowd who sold the RAH RAH US is exceptional BS non stop.

When it became clear that Vietnam was a fiasco and that african americans WERE entitled to proper treatment, some of us began to balk at the status quo but were beaten back.

Then came the tough 70's with gas lines and no jobs and most of us just fell into line.   As time passed we just relinquished our interest in politics, thinking it was corrupt but pretty innocuous.

2008 was a BIG wake up call.  People have started scratching their heads trying to find out what the heck is going on.   It takes alot of time to educate and deprogram. 

Screw investing.  The whole system needs overturning.  We need a philosophy of "all in this together".  We are citizens of the world.  We need to begin working together in local communities.  Stop supporting a federal system.  It does nothing for citizens anymore.   

It is a mental revolution that is required before anything can change.

Sun, 03/03/2013 - 20:58 | 3296361 EINSILVERGUY
EINSILVERGUY's picture

Let me guess.  You were a Yippie and not a Yuppie

Sun, 03/03/2013 - 20:43 | 3296330 Hulk
Hulk's picture

David Bowie fully predicted all this back in 1975

http://www.youtube.com/watch?v=HRD0ghlFSgk

Sun, 03/03/2013 - 20:55 | 3296356 nmewn
nmewn's picture

Dats a fact...same as it ever was...

http://www.youtube.com/watch?v=I1wg1DNHbNU

Sun, 03/03/2013 - 21:21 | 3296417 GMadScientist
GMadScientist's picture

Your mom licks combat boots.

Sun, 03/03/2013 - 21:00 | 3296367 EINSILVERGUY
EINSILVERGUY's picture

I must have missed something. Keynes wasn't around for the creation of the US Fedral Reserve System based on what I know. He was at Bretton Woods and helped institute the World Bank and IMF.

Sun, 03/03/2013 - 21:02 | 3296371 skipjack
skipjack's picture

Starve the beast.

Sun, 03/03/2013 - 21:20 | 3296414 akak
akak's picture

So why is the possibility of entirely removing oneself from "the market", yet not remaining in depreciating cash, by holding physical precious metals instead not discussed?  Or does the author believe that even taking that (relatively) radical step still constitutes "remaining in the market"?

Sun, 03/03/2013 - 21:35 | 3296453 Paracelsus
Paracelsus's picture

I remember reading the book on Nash("A beautiful mind") and he was playing the game he invented and when he threw one of his friends out of the game his friend complained. Nash replied,"But i didn't need you anymore....".

If this is not a country of laws,then the only glue holding this leaky ship together is the threat of military force.The question becomes whether the rank and file will open fire on grannies.

Sun, 03/03/2013 - 22:39 | 3296637 W74
W74's picture

Right before getting out my buddy and I (natural friends being far more intelligent than the average enlisted sap) discussed what to do if/when things to "really" bad (and we knew it already was and we were headed for worse).  We came to the conclusion that the safest place assuming one had to stay in the US...would be in the military.  Yep, the safest way to remain a citizen then would be right back in the Wehrmacht, pay, maybe shelter and 3 squares a day.

Other than that....GTFO.

Sun, 03/03/2013 - 22:49 | 3296669 Jugdish
Jugdish's picture

You and your pal are morons. So the wermacht ships your dumb asses to waziristan and then the beast implodes and your 3 squares and clean sheets ain't uh comin. Sign your life over to the pentagram so they can fuck you in your ass and leave you out to dry in some 3rd world shithole where eceryone is itchin to sodomize your corn-syrup fed asshole. Sounds like a great plan.         " Sarge says the checks are in the mail."

Sun, 03/03/2013 - 21:45 | 3296473 UTICA CLUB XX PURE
UTICA CLUB XX PURE's picture

I'm 54 years old, my 401K IS 100% in Eric Sprott's PSLV and the balance of my savings is in physical silver in a local safety deposit bank. Yea, I read this article... 

Sun, 03/03/2013 - 21:51 | 3296490 dolph9
dolph9's picture

The sad fact is that the old are not entitled to comfort, and the young are not entitled to a promising future.

Nobody is "entitled" to anything.  Amerika, despite the myth, has to be the most socialist nation on this planet.

 

Sun, 03/03/2013 - 22:18 | 3296580 Henry Hub
Henry Hub's picture

That's right, no one is entitled to anything except the super rich oligarchs who own and control this country and run it for their own interests.
That's right, socialism for the rich and a form of "capitalism" (sink or swim baby) for the middle class and poor. Sounds like you're already consumed the cool aid douchbag!

Sun, 03/03/2013 - 21:59 | 3296523 silverisgold
silverisgold's picture

"The surest way to make a million dollars in this stock market is to invest $3 million using a “buy and hold” strategy"

Yeah, and now I'm almost up to nothing.

 

Sun, 03/03/2013 - 22:07 | 3296552 q99x2
q99x2's picture

Yep we were lucky but its all over now. Other than on TV I only saw one dead person in my entire life. It was kind of odd because the only time I saw that person alive prior to seeing him dead was about 5 seconds before when I looked up into the air and saw him running about 10 floors above me. Then suddenly I saw my first dead person. I guess I'm going to see a few more if we don't start arresting the banksters before they start WWIII.

Sun, 03/03/2013 - 22:19 | 3296584 Kirk2NCC1701
Kirk2NCC1701's picture

This article could almost have been written by my in-laws.  They know that they were born not only in the Goldilocks period of the US (1940s), but in the Goldilocks period of humanity.  They are financially well off, because they did not squander their health income while raising several kids and putting them through college.  They are still frugal but 'live' life -- with fun but with moderation in all things, and a DIY mentality of a pioneer.

My wife & I envy them, but do not begrudge them.  There's a subtle but important difference in this.  They worry about our future (retirement) and we worry about our kids' future, given the current state.  Although my wife's still a product of the 80s and 90s and hard to enlighten (denial is strong in her), I'm educating my kids a la Austrian and ZH tribal knowledge, to educate and inoculate them.

Sun, 03/03/2013 - 22:21 | 3296586 10mm
10mm's picture

Thomas Paine Lives.

Mon, 03/04/2013 - 09:21 | 3297373 madcows
madcows's picture

I disagree.  Common Sense departed long ago.

Sun, 03/03/2013 - 22:22 | 3296590 shinobi-7
shinobi-7's picture

And then again: -70%+ for the Nikkei and Japan still exists. Japanese banks bad assets were never cleaned up after the bubble and the economy didn't recover. Likewise for the US and Europe after 2008. The result should be the same but won't as the market is artificially propped up. Interesting times ahead!

Sun, 03/03/2013 - 22:34 | 3296622 Sizzurp
Sizzurp's picture

I was disappointed in the above 50 demographic when it came time to vote for someone that could have changed things for the better.  Maybe they were afraid, maybe they were selfish.  We'll never know.  At this point all bets are off.  We all know there is pain coming, so enjoy what time we have left while things are somewhat tolerable.  Get close with your friends and family and prepare the best you can. Take the high road.

Sun, 03/03/2013 - 22:47 | 3296663 stormsailor
stormsailor's picture

only choice i ever had over the repub democrat bend over and grab your ankles puppet show,  was ross perot, i voted for him and was rewarded with 8 years of clinton and hillarybeast.   i also wrote in ron paul.

this shit cannot be fixed by voting.  only bullets in the back of the head for a large number will solve it.

 

if i had an incurable disease and had 6 months to live, i would start the "enlightenment" myself,  if enough were to begin i would join.  but as it is we are all just millions of particles, not yet formed into a useful nuclii.

Sun, 03/03/2013 - 23:24 | 3296750 PoliticalRefuge...
PoliticalRefugeefromCalif.'s picture

And that's the problem, by the time a true leader shows up what type of leadership will he have to demonstrate to be accepted?-  A. Hitler was a man for his times.

.."the rabbit cries out but not all who come are coming to help"

Mon, 03/04/2013 - 00:33 | 3296910 shinobi-7
shinobi-7's picture

It does feel like the end of a party indeed! The friends are leaving, they trashed the place and the wine was on credit...

Mon, 03/04/2013 - 03:51 | 3297109 dunce
dunce's picture

The last crash was about %50 and my portfolio was very close to the market peak and bottom. I am putting some in slver now, but there are constraints and i do not expect to be risk hedged before the SHTF. Just because the market drops by half there is no certainty that any one will be limited to that loss. I will count it a success if my losses are %10 less than the market swing.

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