[OT] A realization, banks and the financial system

[Emissary]

what's fucked up is that financial education is not part of the basic curriculum in schools in any country. there are some seriously scary naive ideas in this thread.

if you don't know what you're doing, pay someone to teach you. the 2nd worst thing you can do is have some fool handle your money, chances are, you're that fool. the 1st worst thing you can do is panic.

recognize what kind of investor you are, short or long term. understand your investment's risk and return. wait and let compound interest do its thing. nobody sells at the peak, nobody buys at the lowest, there is no single winning formula.

money can buy happiness, it can fuck with your head and make you feel bad. want money to make you happy? understand it and don't let every dumbshit Chicken Little like Emissary and Fox News make you panic.

Yeah, i'm the dumbshit, thats right. Your a frigging gumtard, People like you are the reason we are in this shit. Overconfident, Ignorant arse mungers with a warped perception of reality, a huge god complex and a frigging brain thats made from tea towels and piss.

[mikemc]

what's fucked up is that financial education is not part of the basic curriculum in schools in any country. there are some seriously scary naive ideas in this thread.

if you don't know what you're doing, pay someone to teach you. the 2nd worst thing you can do is have some fool handle your money, chances are, you're that fool. the 1st worst thing you can do is panic.

recognize what kind of investor you are, short or long term. understand your investment's risk and return. wait and let compound interest do its thing. nobody sells at the peak, nobody buys at the lowest, there is no single winning formula.

This is all good, particularly the part about lack of basic info about this in schools, "not knowing what you're doing" is the baseline.

So most people get into the whole thing without a lot of forethought. I mean, people are signed up for social security and start paying into it the minute they start working-- not that this is bad, but it starts there. Then, 401k, yes or no? You have a choice: pay taxes on the money and then spend it and/or invest it, or don't and have someone who does it for a living invest it for you.

In one case you don't have a choice and in the other the choice seems very reasonable. But in neither case is the money guaranteed to hold it's value.

[mikemc]

People like you are the reason we are in this shit. Overconfident, Ignorant arse mungers with a warped perception of reality, a huge god complex and a frigging brain thats made from tea towels and piss.

And, on the other hand, this is highly colorful, and the part about tea towels is spectacularly random.

[Tone Deft]

what's fucked up is that financial education is not part of the basic curriculum in schools in any country. there are some seriously scary naive ideas in this thread.

if you don't know what you're doing, pay someone to teach you. the 2nd worst thing you can do is have some fool handle your money, chances are, you're that fool. the 1st worst thing you can do is panic.

recognize what kind of investor you are, short or long term. understand your investment's risk and return. wait and let compound interest do its thing. nobody sells at the peak, nobody buys at the lowest, there is no single winning formula.

money can buy happiness, it can fuck with your head and make you feel bad. want money to make you happy? understand it and don't let every dumbshit Chicken Little like Emissary and Fox News make you panic.

Yeah, i'm the dumbshit, thats right. Your a frigging gumtard, People like you are the reason we are in this shit. Overconfident, Ignorant arse mungers with a warped perception of reality, a huge god complex and a frigging brain thats made from tea towels and piss.

you like to watch people argue. you like to get people riled up, that's really fucked up. just about all of your posts are about doom and gloom, completely unfounded Chicken Little bullshit. you're the forum doom and gloom guy, fine, that doesn't come without some backlash, grow a pair, ya pussy.

yeah, blame the problem on me, what a simpleton. I was wrong to call you a dumbshit, but you're filling those shoes nicely. people like me?? you don't know me, please do tell me more.

btw why is your life so fucked up that it's all doom and gloom? it sounds like your world is really fucked up, what's wrong?





mikemc - what I would do is go to a financial advisor, NOT one that has something to sell you, not one from an investment firm, unless you find one you like. I would explain to them your financial goals, what your investments and hear what they have to say.

I do 401(k), it's that or a Roth IRA, it depends on where you want to pay taxes. what the details are, I don't sweat, that's money making me unhappy. pre-Bush an IRA would make more sense, these days it depends on when you think the recession might start to recover. if I was worried, I'd ask a professional a friend that had been through it. I've kept my 401k at the highest risk/highest yield option (emerging technologies) through thick and thin, when I get closer to retirement I'll change that to bonds and lower yield higher risk investments. my company does employer matching up to 6% I think, so I do that, to do less is losing money, to do more isn't gaining you much.

social security - nobody looks at that, I've known for a long time not to count on that money, it's another tax on my paycheck.


fundamentally there is no guarantee on money, FFS American money says "In god we trust"!! it's a promissory note on money that doesn't actually exist. it's really all bullshit, I can't expect Emissary to get past it, but the system works, it can crash, then rules are put in place from those lessons, but the overall trend of the financial markets is an upward slope. time and patience and FFS don't be reactionary, make a game plan and stick with it. shit, it's the same as playing craps, scare money don't make money, be cool.


the one thing I've learned in hiring a financial adviser is that it really makes me sick, that's why the rich get richer and the poor don't. if you don't understand compound interest, you're fucked. if you don't know what a tax write off is, you're losing an advantage. all those people that got zero down loans with adjustable rates, what if they had someone actually run the numbers and scenarios for them? nope, instead they fell prey to some really sleazy finance guys.

[Emissary]

what's fucked up is that financial education is not part of the basic curriculum in schools in any country. there are some seriously scary naive ideas in this thread.

if you don't know what you're doing, pay someone to teach you. the 2nd worst thing you can do is have some fool handle your money, chances are, you're that fool. the 1st worst thing you can do is panic.

recognize what kind of investor you are, short or long term. understand your investment's risk and return. wait and let compound interest do its thing. nobody sells at the peak, nobody buys at the lowest, there is no single winning formula.

This is all good, particularly the part about lack of basic info about this in schools, "not knowing what you're doing" is the baseline.

So most people get into the whole thing without a lot of forethought. I mean, people are signed up for social security and start paying into it the minute they start working-- not that this is bad, but it starts there. Then, 401k, yes or no? You have a choice: pay taxes on the money and then spend it and/or invest it, or don't and have someone who does it for a living invest it for you.

In one case you don't have a choice and in the other the choice seems very reasonable. But in neither case is the money guaranteed to hold it's value.

The reason economics is not taught in schools is because its fucking voodoo. the way it is taught is too complex for even the brightest mind on our planet to possibly conceive in full. Yes the Economists have their little rune stone or tea leaves (instruments) that they read and try to give out advice, but they only predict properly when everything is going to plan. Economics is the modern day equivalent of fucking tarot card reading.

They try to make something that is exceptionally simple into something people can only pretend to understand. If little johnny was taught in school what a fiat currency was he would see through the charade instantly. This is why it cant be taught. We have to wait until we become part of the establishment before we are given the secret keys to economics.

You either have to fall on one of two sides.

a) That Economists understand why we are in this and know how to fix it. In which case they blatantly knew it was coming and didn't warn anybody , save for a few. Roubini and schiff

b) Economists are so mind numbingly arrogant and stupid that they couldn't see that infinite growth IS NOT POSSIBLE!!! . The Entire basis of our society relies on infinite growth. BUT ITS NOT POSSIBLE, A new born baby's first feces can see this.

I know that TD will come along and shoot straight down the middle and say that once again i am over simplifying things. Well yes, the whole basis of good science, or good art is going with something simple that others just didn't see. Why the fuck would frigging economics be any different.

[Emissary]

what's fucked up is that financial education is not part of the basic curriculum in schools in any country. there are some seriously scary naive ideas in this thread.

if you don't know what you're doing, pay someone to teach you. the 2nd worst thing you can do is have some fool handle your money, chances are, you're that fool. the 1st worst thing you can do is panic.

recognize what kind of investor you are, short or long term. understand your investment's risk and return. wait and let compound interest do its thing. nobody sells at the peak, nobody buys at the lowest, there is no single winning formula.

money can buy happiness, it can fuck with your head and make you feel bad. want money to make you happy? understand it and don't let every dumbshit Chicken Little like Emissary and Fox News make you panic.

Yeah, i'm the dumbshit, thats right. Your a frigging gumtard, People like you are the reason we are in this shit. Overconfident, Ignorant arse mungers with a warped perception of reality, a huge god complex and a frigging brain thats made from tea towels and piss.

you like to watch people argue. you like to get people riled up, that's really fucked up. just about all of your posts are about doom and gloom, completely unfounded Chicken Little bullshit. you're the forum doom and gloom guy, fine, that doesn't come without some backlash, grow a pair, ya pussy.

yeah, blame the problem on me, what a simpleton. I was wrong to call you a dumbshit, but you're filling those shoes nicely. people like me?? you don't know me, please do tell me more.

btw why is your life so fucked up that it's all doom and gloom? it sounds like your world is really fucked up, what's wrong?





mikemc - what I would do is go to a financial advisor, NOT one that has something to sell you, not one from an investment firm, unless you find one you like. I would explain to them your financial goals, what your investments and hear what they have to say.

I do 401(k), it's that or a Roth IRA, it depends on where you want to pay taxes. what the details are, I don't sweat, that's money making me unhappy. pre-Bush an IRA would make more sense, these days it depends on when you think the recession might start to recover. if I was worried, I'd ask a professional a friend that had been through it. I've kept my 401k at the highest risk/highest yield option (emerging technologies) through thick and thin, when I get closer to retirement I'll change that to bonds and lower yield higher risk investments. my company does employer matching up to 6% I think, so I do that, to do less is losing money, to do more isn't gaining you much.

social security - nobody looks at that, I've known for a long time not to count on that money, it's another tax on my paycheck.


fundamentally there is no guarantee on money, FFS American money says "In god we trust"!! it's a promissory note on money that doesn't actually exist. it's really all bullshit, I can't expect Emissary to get past it, but the system works, it can crash, then rules are put in place from those lessons, but the overall trend of the financial markets is an upward slope. time and patience and FFS don't be reactionary, make a game plan and stick with it. shit, it's the same as playing craps, scare money don't make money, be cool.


the one thing I've learned in hiring a financial adviser is that it really makes me sick, that's why the rich get richer and the poor don't. if you don't understand compound interest, you're fucked. if you don't know what a tax write off is, you're losing an advantage. all those people that got zero down loans with adjustable rates, what if they had someone actually run the numbers and scenarios for them? nope, instead they fell prey to some really sleazy finance guys.

You must be the single most retarded arrogant francis ford coppala look a like cheese nubbin the world ever crapped from its putrid glumtacular hole. Your a serial robe intruder, A languid vessel of putrescence that vomits at the mere sight of its own hideousness . Working each day with your belief system that is so wrong its almost right. Glory be to you massive toe and its ability to rain down hatred and rampant suffering on my cloudy bald head of loathsome ineffectual nonsense .

[Emissary]

Dear Mikemc

sometimes when me and Tone Deft argue i get a little clitoral erection. She is my best friend, should i be having feelings like this at my age. I dont want to ruin the friendship but sometimes i just want her gloop on my face .

love Emissary

[doc holiday]

screw long term investing.
make charts. and pay attention to trends.

my pops got out 11/2007, and is just getting back in now, this whole slump hasn't effected him one bit.

his investments are never in the market for too long, and since he retired over a decade ago his retirement fund has only grown despite all the termoil happening now.

investing comes down to a couple basic things.

pay attention to trends. and don't be greedy.

[forge]

Glum Rock?

Glum n Bass?

Fresh from the UK underground: Glummage

glum step

[mikemc]

Glum n Bass?

Fresh from the UK underground: Glummage

glum step

yo man I DROPPED "glumstep" in this thread already.

Don't make me get all Glumstah on you.

[acatcalledanarchy]

Check out good old Mark Thomas' recent podcasts entitled 'It's the economy stupid!' for more insight into the collapse of Northern Rock and the British economy - very informative and entertaining at the same time...

http://www.markthomasinfo.com/section_audiovideo/

Peace, love and flowers...

A Cat Called Anarchy

[Mike Goodwin]

You know those guys that used to sail around with a pirate flag and plunder shit? Yeah they are the same dudes running the financial system. What, you just thought they disappeared somewhere? Well they kind of did disappear or should I say morphed. THEY WEAR SUITS AND TIES NOW!

Is it monty python or at the beginning of time bandits where they show the truth about bankers. When the sky scrapers go to battle with each other. Ya know what I am saying at them of ya that are as old or older than me.

[3dot...]

it's pretty easy to blame the banks.. but they are only one of maaaaaany reasons.. the public just needs someone who is easy to blame.

don't trust the media

+1

hate banks...yes... but I live paycheck to paycheck because of MY spending habits...
and not the bank's small fee...

as for being invested... that is always a gamble...
I it's smart to invest only up to about a 1/3 of your total....
and put it in relatively solid spots... or companies YOU believe in..

[3dot...]

but yes,,, credit system and banks ...government taxes..
are geared towards sucking money from you...
being aware of that is important...

[Mike Goodwin]

government taxes.. are geared towards sucking money from you...
being aware of that is important...

In some countries being taxed is a great thing. This is because the government is actually mostly responsible and uses your money to take care of it's people in ways that individuals cant. Believe it or not not all governments are getting it's people to work for it. Yes it is true in some places the government works for its people.