• Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.
  • Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.

Hoping To Get Rich? Bill Gross Has Some Bad News For You

Tyler Durden's picture




 

If you want to get rich - either quickly or slowly - the Bond King (whose TRF lost a record $40+ billion in AUM last year) has some bad news: it ain't happening.

There was no comment from Bill on what the future holds for those who may or may not want to get poor quickly (or slowly).

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Sun, 01/12/2014 - 12:07 | 4324631 FOC 1183
FOC 1183's picture

What about getting rich carefully?

Sun, 01/12/2014 - 12:10 | 4324635 Leonardo Fibonacci2
Leonardo Fibonacci2's picture

Ask Lyodd Blankfein, Jamie Dimon, Ben Bernanke, Hank Paulson, etc......  maybe they have another view and advice

Sun, 01/12/2014 - 12:30 | 4324668 Yes We Can. But...
Yes We Can. But Lets Not.'s picture

Give Lexapro a try, Bill.

Sun, 01/12/2014 - 13:09 | 4324753 Popo
Popo's picture

It's always a good market for one half of the trade.   The question is:  When is it (finally) going to be time to go short again?

Sun, 01/12/2014 - 15:18 | 4325032 MedTechEntrepreneur
MedTechEntrepreneur's picture

The opportunity cost of 20 somethings and 30 somethings being forced to pay 200-300/mo into Obamacare is devastating. Figure the loss of savings and investments (or even lost consumption) over their productive years and it is a huge number.

Sun, 01/12/2014 - 16:37 | 4325193 markmotive
markmotive's picture

Most of you will always be poor. They system is built like that. Any attempt to re-distribute wealth would be counter productive. Just ask the Soviets.

http://www.planbeconomics.com/2013/05/documentary-breaking-inequality-wh...

Mon, 01/13/2014 - 10:10 | 4326935 TheReplacement
TheReplacement's picture

Human nature is like that.  You will NEVER devise a system that is going to give equal results to all.  Stop sounding like it is even possible.

The only thing we have to argue about is the fairness of the system where the top gets to decide winners and losers based on whim versus the market picking based on merit (we agree).

Sun, 01/12/2014 - 12:55 | 4324714 moneybots
moneybots's picture

"Ask Lyodd Blankfein, Jamie Dimon, Ben Bernanke, Hank Paulson, etc......  maybe they have another view and advice"

 

They are already rich.  Gross was taliking about getting rich.

Sun, 01/12/2014 - 13:49 | 4324835 A Nanny Moose
A Nanny Moose's picture

Being born into money is the quickest way of them all. Their kids have it made, yet are simultaneously screwed by their wealth.

Sun, 01/12/2014 - 12:28 | 4324663 Eireann go Brach
Eireann go Brach's picture

Fuck you Skeletor! I had to dump your fund from my 401k as it was the worst performing by a long way! So being part of your company right now will mean no one will ever get rich!

Sun, 01/12/2014 - 12:51 | 4324708 Skateboarder
Skateboarder's picture

My boss (owner of small business that cares very much for its <10 employees) tells us once or twice a year to sign up for the non-taxed IRA, for which the company matches up to $1500 a year. A 1oz maple is worth more for my 'retirement' (lololo what a quaint concept) imo. I really find it obscene that all these retirement accounts and yada will get wiped out, and the people banking on seeing that money will never see it. :(

Sun, 01/12/2014 - 12:57 | 4324718 moneybots
moneybots's picture

"it obscene that all these retirement accounts and yada will get wiped out, and the people banking on seeing that money will never see it."

 

And how much might the windfall tax on your Maple be when you take it out and use it?

Sun, 01/12/2014 - 13:02 | 4324734 Winston Churchill
Winston Churchill's picture

You mean Mad Max's tax.

If you think anyone will still be working for .gov after the coming shitstorm I've

got a 401k in New York  for sale if your interested.

Sun, 01/12/2014 - 13:10 | 4324757 Skateboarder
Skateboarder's picture

I will only let go in dire need or desperation. When that time comes, I don't think I will care. Better to have something physical in my possession than digital fantasybux.

I think skateboards are wealth too - might as well start stacking decks and trucks and wheels and bearings (DCRB, represent). If you've never seen one used as a weapon, it's incredible. A friend of mine (R.I.P., bless his soul) once hit a sketchy Mexican dude on the head with a board when he was sold fake weed. He got expelled from school and shit (it happened in school), but the event was legendary and taught/reminded everyone that skateboards and skateboarders aren't something to fuck with.

Sun, 01/12/2014 - 14:56 | 4324989 max2205
max2205's picture

Compound interest doesn't do much below 3%

Sun, 01/12/2014 - 16:41 | 4325202 U4 eee aaa
U4 eee aaa's picture

Not true. It compounds your problems

Sun, 01/12/2014 - 14:27 | 4324907 RafterManFMJ
RafterManFMJ's picture

Ah yes, that dreaded Hobgoblin, the windfall tax...

"You had the foresight and balls to evade the Empire's theft of your labor and it's destruction of your currency, so now we will just simply steal from you out right..."

No, I think not. In fact, I'm afraid I'm going to have to say absolutely not...

Sun, 01/12/2014 - 12:08 | 4324632 NoDebt
NoDebt's picture

What about theft?  Theft still works, right?

Sun, 01/12/2014 - 12:33 | 4324673 Yes We Can. But...
Yes We Can. But Lets Not.'s picture

Are you in The Club?

Sun, 01/12/2014 - 12:44 | 4324700 Skateboarder
Skateboarder's picture

Clubs are for pampered high-lifers who will drop a G on bottle service. He's obviously in The Bar.

Mon, 01/13/2014 - 02:20 | 4326534 NickVegas
NickVegas's picture

Que up fifty.

Sun, 01/12/2014 - 12:38 | 4324684 Colonel Klink
Colonel Klink's picture

Only if you're in the "club".  If not, then you get prosecuted by Eric "the dick" Holder or his henchmen, and sent off to prison.

Sun, 01/12/2014 - 13:07 | 4324749 Gohn Galt
Gohn Galt's picture

Just don't cause attention or rock the boat and you can steal all you want.  You only have to fight with own moral code (if you have one).  Agencies like the FBI have official changed their focus from law enforcement to national security.  So have fun storming the castle.

Sun, 01/12/2014 - 15:33 | 4325066 Greshams Law
Greshams Law's picture

As you wish.

Sun, 01/12/2014 - 12:11 | 4324637 thunderchief
thunderchief's picture

I like the picture of them.  The caption should read, "tough shit succers, we're already there."

Sun, 01/12/2014 - 12:14 | 4324640 aleph0
aleph0's picture

What's "rich" these days ? .. the Theft via Cronyism !

Sun, 01/12/2014 - 12:15 | 4324641 ZeroPoint
ZeroPoint's picture

We'll see who's still standing after the dollar collapse. People who are holding real wealth will be....wealthy.

Sun, 01/12/2014 - 12:17 | 4324645 IridiumRebel
IridiumRebel's picture

I am trying to remove myself from "the system" as much as possible. My richness will come from more time with my family. Be simple. Repudiate the rat race. My compost pile is almost ready, garden begins in a month and a half. Starve the Beast.

Sun, 01/12/2014 - 12:39 | 4324687 GotNuttin'todo
GotNuttin&#039;todo's picture

Agree. Anyone with any gonads will get off the grid.

Sun, 01/12/2014 - 13:22 | 4324781 Yancey Ward
Yancey Ward's picture

You should have read the report.  Gonads are confiscated as the first step of the debt stabilization plan.

Sun, 01/12/2014 - 13:28 | 4324790 IridiumRebel
IridiumRebel's picture

...and then everyone would go nuts!

 

i'll be here all week...tip your debt slave.

Sun, 01/12/2014 - 14:05 | 4324869 CH1
CH1's picture

Starve the Beast.

Yes! Starve the Beast!

Sun, 01/12/2014 - 19:37 | 4325613 yrbmegr
yrbmegr's picture

It used to be that the "victory garden" was commonplace.  We seem to be reverting to some of those old practices from a less prosperous past.

Sun, 01/12/2014 - 12:18 | 4324647 Dasa Slooofoot
Dasa Slooofoot's picture

Oh, idk about that.  Maybe for cronies, but chaos can surely remove some of the barriers that keep the rich afloat and the ceilings that keep hard working, innovative people bottled up.   

Sun, 01/12/2014 - 12:19 | 4324649 666
666's picture

I'm rich already: I own silver and gold, have no debt, and have a clean conscious.

Sun, 01/12/2014 - 12:27 | 4324665 lordbyroniv
lordbyroniv's picture

What Gross is basically saying is that we are all traveling on the Road to Serfdom.   :(

 

Fucking Mother Fuckers !!!!...

 

WHEN IS EVERYONE GOING TO STORM THE BASTILLE!?!?!?!?

 

Count me..........out.

 

IN !!!!!!!!!!!!!11111

Sun, 01/12/2014 - 13:00 | 4324730 moneybots
moneybots's picture

"WHEN IS EVERYONE GOING TO STORM THE BASTILLE!?!?!?!?"

 

Ask the Greeks.  Ask the Spaniards.  Ask the Italians.

Sun, 01/12/2014 - 14:31 | 4324917 RafterManFMJ
RafterManFMJ's picture

The Bastille is clear over in England, dumbass.

Sun, 01/12/2014 - 18:19 | 4325419 geoffb
geoffb's picture

Technically France, but I believe he was speaking metaphorically.

Sun, 01/12/2014 - 14:08 | 4324873 CH1
CH1's picture

What Gross is basically saying is that we are all traveling on the Road to Serfdom.

Yes, and there is no exit for those who keep obeying.

Sun, 01/12/2014 - 12:30 | 4324669 the grateful un...
the grateful unemployed's picture

there's a distinction between cash and capital, when the banks were undercapitalized after the 2008 crash, the Fed came in with cash. capital is assets, and all the phony collateral in the world won't generate capital. liquidity in notional fiat currency is not investment, though it has a way of draining off assets when the money supply begins to exceed the amount of capital, or collateral behind it. deflation has a way of creating real wealth, (wealth in the 1800s was land, cattle and gold) the government policy of the last hundred years has been to direct land ownership away from individuals and into corporations, who see their wealth depleted by stock issuance, cattle no longer matter, its a vegan world, but gold still counts and its personal and portable, and although government can effectively prevent land ownership, they will never be able to take your gold again. buy gold bitchez

Sun, 01/12/2014 - 13:07 | 4324748 Marco
Marco's picture

Gold is money, it can only generate rent in a growing economy ... land generates rent regardless. Land was wealth, land is wealth, land will always be wealth ... it's just that you need to own government before you can own land, which brings us to the current course of events.

Sun, 01/12/2014 - 13:35 | 4324802 fijisailor
fijisailor's picture

You don't own your land unless you have some in a property tax free jusrisdiction like the Cayman Islands.

Sun, 01/12/2014 - 14:12 | 4324880 The Navigator
The Navigator's picture

in a property tax free jusrisdiction like the Cayman Islands.

I believe FIJI is also property-tax-free.

Sun, 01/12/2014 - 14:17 | 4324894 fijisailor
fijisailor's picture

The cities (the're all small ones) are charging property tax now.  Not yet in the countryside and outer islands.

Sun, 01/12/2014 - 14:58 | 4324998 max2205
max2205's picture

Property taxes compounded at 7 to 10% per year will make most broke before you can collect SSI

 

Maybe thats the plan?

Sun, 01/12/2014 - 12:39 | 4324675 joego1
joego1's picture

I find that the more money I have there is more time defending it. Go for the happiness derivatives.

Sun, 01/12/2014 - 15:38 | 4325074 Greshams Law
Greshams Law's picture

Beer and blowjobs?

Sun, 01/12/2014 - 12:37 | 4324680 GotNuttin'todo
GotNuttin&#039;todo's picture

You would think these big shot CEO's would have something original to say.

Sun, 01/12/2014 - 12:39 | 4324686 fijisailor
fijisailor's picture

Translation:  Any money you have in paper assets will be lost or confiscated.

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