sell! sell! sell!

[CHOPTALK]

It was fun mocking at him but at some point it's a waste of time. I admit I do enjoy watching Willie laughing at those uninformed liberals down there, looks like he is getting bored with them, too. Anyway, I started of the year on the back foot yet again, some of my hedges went horribly wrong. ucking:

GL with your trades/bets in 2013, Mike.

if you miss him too much I can always get him to start posting in this thread

 

[CHOPTALK]

Yeah more of the same snoop... More debt and worry about it later ... Same ol shit

Unreal where this will lead long term ... Economy now dependent on trillion dollar deficits every year to stay afloat... Reality will hit at some point who knows when ... And all this dependency on government assistance to keep things "ok" will have major long term repurchasing in terms of productivity etc

15-20 year slow motion depression extended another 5 lol

Havent been short much for a while now

Gold the real stuff not miners, oil related stuff, cash for me

thats just it we have no idea how long the rope is. We may not get to the end of it in our lifetimes.
The saying is he who holds the money makes all the rules. Well these are the people with the money which means they can make the rope as long as they want

 

[snoop]

if you miss him too much I can always get him to start posting in this thread

I'm not aware you actually enjoy his garbage that much. That's quite strange really.

 

[snoop]

Meth is terrible drug would never peddle that shit lol ...

Although I will say breaking bad one of my favorite shows

Writing acting character development absolutely brilliant ...

It's a great show.

I think Jesse and Walter will have a mexican standoff at the end.

 

[snoop]

The sUb 30 crowd is absolutely screwed unless their parents are in the upper class ..... Little hope for them ... And we wonder why thing like mass shootings are on the rise ... Oh yeah it's the guns my bad

1 out of 3 newly college grads will find themselves unemployed for a while.

My nephew will graduate this summer, I'm telling him to start send out resume' now and start looking for opportunities beyond US border.....like China, Singapore or Vietnam.

 

[tiznow]

Yeah a significant amount of undergraduates that got a worthless degree are going to Asia to teach English ... If they are smart they will never come back maybe hop over to Aussie or something like that down the road

 

[tiznow]

thats just it we have no idea how long the rope is. We may not get to the end of it in our lifetimes.
The saying is he who holds the money makes all the rules. Well these are the people with the money which means they can make the rope as long as they want

End game will be some sort of currency crisis on a global scale who knows when

Rope can't be longer than 20 years but maybe I'm wrong ... Baby boomers living longer and gonna cost a shotton to take care of As they do nothing productive and sit around and bleed us dry .... Inevitable is way different than imminent ha

 

[snoop]

CTRL-P is the only fix that they know.
Central bankers around the globe doubled down on the ponzi scheme since 2008. They're beefing up the balance sheets from $5t to $15t in less than 5 yrs. When next crisis hits, just triple down. QEternity is here to stay.

 

[HuskerFan1]

snoop you just hit the nail on the head. schiff been spouting off for years and even though he is right its doesnt seem to matter. the #s just get bigger and bigger but it doesnt sink in to anyone

ex ceo of wells fargo was on cnbc last week and said usa is going to hell ranting about the same stuff, saying the us govt if you take away all the zeroes is taking in like 23k a year and spending 37k a year and has a CC debt of 135K but it doesnt matter...either A no one cares or B) people are just too stupid to see whats going on....

the whole thing doesnt make any sense

 

[RoofTop]

I wouldn't put any money in IRA or 401K to save my life. They will end up taking that shit before you retire

 

[snoop]

snoop you just hit the nail on the head. schiff been spouting off for years and even though he is right its doesnt seem to matter. the #s just get bigger and bigger but it doesnt sink in to anyone

ex ceo of wells fargo was on cnbc last week and said usa is going to hell ranting about the same stuff, saying the us govt if you take away all the zeroes is taking in like 23k a year and spending 37k a year and has a CC debt of 135K but it doesnt matter...either A no one cares or B) people are just too stupid to see whats going on....

the whole thing doesnt make any sense

At this point, besides the Fed, no one has the capacity to subsidize the US massive deficit. As it stands:

Projected deficit in 2013: $1.2t. Payroll tax increase: $120 billions from working class Americans. The ultra rich will pitch in roughly $60 billions. Stock gains from last week or so should be enough to cover their tax bills. Heh. Bernanke will finance a big chunk $540 billions. The Japs, Saudis, and Chinese will fund the rest as Japan & China economy is built on the back of the US consumers. If we tank, we will take them down with us.

Also, Ben The Printer is trying to re-inflate the housing bubble via endless purchasing of MBS. Across the board, home prices gained 6% in 2012 and expected to gain 7-10% this year. Salaries/wages have been stagnated or trending down since the last housing burst. When wages can't catch up with fast rising home prices, another housing bubble is ballooning on the horizon. Housing bubble-I is a history. We're now entering housing bubble-II. The good news is bankers are weeding out all bad credit borrowers, the next bubble won't be as bad as the last one, plus, bankers are dumping loans to Fannie/Freddie & The Fed regardless they're good or bad papers. When next housing bubble burst, the bankers will be off the hook.

Growing aging population is another near term problem. Meanwhile, 1-2 % growth of global economy is now universally accepted. Asia & Europe is already in recession, the US economy is flat yet all stock indexes are shooting higher. If the S&P can break that psychological barrier 1475, the bulls will have a wide open field to run. The exuberance is coming back. I'm hearing folks are calling stocks have only way to go from here - UP UP UP AND AWAY. :cripwalk:

 

[snoop]

I wouldn't put any money in IRA or 401K to save my life. They will end up taking that shit before you retire

No risk of that.

Tim Geithner

 

[PatsFan1283]

I wouldn't put any money in IRA or 401K to save my life. They will end up taking that shit before you retire

Suit yourself, I feel pretty confident that won't happen.

The day it did the revolution would begin.

 

[CHOPTALK]

My NOK is on fire. Thank you Lumina

 

[RoofTop]

They might not take it, but they might ration your social security because of the size of your retirement account.

Who the fuk knows anyways. I don't trust those bastards.

 

[snoop]

They can't take your personal retirement savings. They might limit your tax-free contribution. Who knows.
SSI is a different story. Folks who retires on 2037 or after (including me) will see their benefits to reduce by 30% or more depending on how much the size of payroll tax receipts. It's better than nothing I guess. When you're old, you don't want to give up Medicare. One or two major surgeries will rack up the med bills rather fast.

The question is what would happen to SSI when my kids retire in about 60+ yrs from now? Who would want to contribute anything to that giant ponzi scheme knowing they won't see a penny left when they retire? Tough shit!

 

[snoop]

“The American people do not support raising the debt ceiling without reducing government spending at the same time. The consequences of failing to increase the debt ceiling are real, but so too are the consequences of allowing our spending problem to go unresolved. Without meaningful action, the debt will continue to act as an anchor on our economy, costing American jobs and endangering our children's future. The House will do its job and pass responsible legislation that controls spending, meets our nation's obligations and keeps the government running, and we will insist that the Democratic majority in Washington do the same.”

John Boehner

Boner is warming up for the debt ceiling standoff. Not sure he grows a pair this time or he pulls another Oscar Winning Award performance.

These were a few exchanges between him and Harry Reid from the last round of soap opera.

Boehner: "Go fuck yourself."
Reid: "What are you talking about?"
Boehner (pointed middle finger at Reid): "Go fuck yourself."

Yet he voted for Reid's fiscal deal.

@)





​

 

[eek.]

I wouldn't put any money in IRA or 401K to save my life. They will end up taking that shit before you retire
-----

I've already posted about this

Repressionomics - can 'financial repression' solve debt crisis?
http://www.bbc.co.uk/news/business-17301032

It takes a bit of getting your head around but the bottom line is the last "asset" worth robbing is workers' pensions and savings

 

[tiznow]

The government has no hold or finger in your 401k/IRA holdings they jut set the guidlines regarding contribution limits/taxes/early withdrawal penalties etc .... they are held by a private company of some sort ... They might change the rules/tax rates etc ... But as far as not being able to access them I just don't see it (like patsfan would spark a revolution etc) and I'm a kook that don't trust those bastards one bit

Social security ponzi a completely different story if u under 40 make your retirement plans expected to get nothing back just to be on safe side

 

[PatsFan1283]

I wouldn't put any money in IRA or 401K to save my life. They will end up taking that shit before you retire
-----

I've already posted about this

Repressionomics - can 'financial repression' solve debt crisis?
http://www.bbc.co.uk/news/business-17301032

It takes a bit of getting your head around but the bottom line is the last "asset" worth robbing is workers' pensions and savings

Yeah, I'm sure you could start to see stuff like the following...

Higher early withdrawal penalties
Higher capital gains on retirement accounts
Less tax-deferrment

All of this stuff is possible but at the end of the day hard to beat free $ from your employer if you get it and tax deferrment on a pretty high portion of most peoples earnings.

I agree with everyone else though SS a joke and I really don't expect a penny of it. Wish they could've allowed for like 2 of the 6% to be invested.