More Doom and Gloom with 20% loss in stock market if we are lucky

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posted on Apr, 3 2013 @ 09:22 AM
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www.cnbc.com...



Growing wealth inequality means that the wealthy have nowhere to hide and that events like those in Cyprus will happen in more countries around the world, including developed nations, said Marc Faber, the contrarian investor and publisher of the Gloom, Boom & Doom Report.





"The problem is that 92 percent of financial wealth is owned by 5 percent of the population. The majority of people don't own meaningful stock positions and they don't benefit from a rise in the stock market. They are being hurt by a rising cost of living and we all know that the real incomes of median households has been going down for the last few years," he said.


Video included

You have to wonder if all the doom and gloom talk is becoming self fulfilling; depending on who we choose to listen to and the prevalence of such talk it makes me wonder??

If I could get my retirement funds out of the investment bank without the huge tax penalty and loss of monthly investments I would but I am stuck. I keep just enough from my monthly salary in my primary bank to pay bills. Anything over that amount goes to a credit union and when the credit union amount reaches a certain level all monies are transferred to an overseas account. Exchange rate for the dollar has been going down these last 5 months which also hurts.

Even overseas you have to pay taxes on money made and thanks to the international banking rules all monies are tracked and reported back to Uncle Sugar...I suppose if it goes overseas by a black boat or tunnel it may not be but even then unless someone put their money in their mattress or a hole in the ground once it is placed in a bank you are tracked by those who want to know. Drug Cartels seem to have figured it out but they are not talking about the ways and means to my knowledge.

He speaks of a loss of at least 20% if we are lucky, and loss of life if we are not. Thoughts?




posted on Apr, 3 2013 @ 09:39 AM
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reply to post by 727Sky
 


The rich will always be able to hide their wealth, this was only one country, but it happens to be the one the Russian mob hides its monies in.
Why not Switzerland or the Caymans?
Because there really is a safe haven for criminals.



posted on Apr, 3 2013 @ 09:50 AM
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20% is generous to say the least. The market is hyper-inflated as it is and as we have seen twice in less than 10 years, when the market jumps to new highs.....a crash and correction is soon to follow.

Honestly, I don't know why anyone would have retirement investments in the stock market or even gold and silver. The prices are completely artificial and is being propped-up by automated computer systems that buy and sell massive amounts of volume each and every day.

It's only a way to leach money away from hard-working Americans that try to invest for their future.



posted on Apr, 3 2013 @ 10:14 AM
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reply to post by 727Sky
 


OP, you might want to check out The Elevation Group regarding being able to access your funds. I am not part of the group nor endorse them as all my assets are taken care of. So I'm not sure they could or would have an answer to your particular problem.

You do not have to be wealthy to take advantage of legal loop holes but you will need professional advice on how to do so.



posted on Apr, 3 2013 @ 10:25 AM
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Originally posted by sheepslayer247
20% is generous to say the least. The market is hyper-inflated as it is and as we have seen twice in less than 10 years, when the market jumps to new highs.....a crash and correction is soon to follow.

Honestly, I don't know why anyone would have retirement investments in the stock market or even gold and silver. The prices are completely artificial and is being propped-up by automated computer systems that buy and sell massive amounts of volume each and every day.

It's only a way to leach money away from hard-working Americans that try to invest for their future.


Yes the 20% in my opinion might be on the low side.

As far as


I don't know why anyone would have retirement investments in the stock market
back not to long ago when companies had real retirement plans not just 401ks you could take your retirement as a lump sum and roll it over into a investment retirement account avoiding the tax penalty; the intent was to grow your little nest egg. 15 or 20 years ago the concerns of today were almost non-existent with regards to the banking industry, astronomical debt, and fiat currency. Tax penalties drove the move of money, and concerns of running out of money when one retires drove the search for return on investment...but I imagine/assume you know that already.

Once you are in the system and decide you want out the taxes you will pay make it very problematic..One thing about taxes they never stop even after death.
edit on 3-4-2013 by 727Sky because: were



posted on Apr, 3 2013 @ 10:33 AM
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"Doom and gloom" is a way to color the truth with a negative tint....However, truth is truth. The stock market is obviously rigged, the current new "record highs" in the market signify nothing but the propping up of something that should be on the floor. It'll get there, in one gigantic crash downward, after enough people have been suckered in to believing that there is a solid recovery, and that happy days are here again.

A twenty percent decline is the best case scenario, IMHO, because the stock market can no longer be trusted as a barometer of how our economy is doing. It is completely divorced from reality. I believe the high-frequency trading programs which are preset to screw around with the numbers on stocks is the driving factor in this fake casino. We daytrade for a living, so we get to watch the corruption and nonsense on a daily basis.

A crash is coming, there is no getting around it, but it'll just happen one day and everybody will be left with a whole lot less money if they were in anything on the long side.

It sucks that you have your money locked up in such a way, OP, but you may want to consider which would be worse: Pulling your money out and taking the penalty hit (never a pleasant thought), or letting it sit where it is and praying that whatever haircut you get is just a little off the top.

This Friday the US government is coming out with their unemployment numbers for the previous month. As usual, they do not count people who have run out of unemployment benefits, have given up looking for work, or are young and can't even enter the job market to begin with after getting out of college. They also count part time work, which is a total joke. The market always overreacts to these numbers (or uses them as an excuse, take your pick). We're already at record highs. It'll be interesting to see the Circus of the Absurd do their act when the numbers come out.
edit on 3-4-2013 by FissionSurplus because: (no reason given)



posted on Apr, 3 2013 @ 10:43 AM
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reply to post by 727Sky
 


There are ways to get money "rolled-over" to a few different instruments that lessen tax liability. I did it in 2007 just before the downturn and I am glad I did. I pulled my money out, paid a small tax penalty and made off like a bandit.

Sadly, when I have talked to people about this issue they say that they could never lose all their money in the market. They don't believe it will ever happen.

I say it will happen....or we will see a "Cyprus-like" event occur where the governments and banks will simply just take it.



posted on Apr, 3 2013 @ 10:49 AM
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youtu.be...

The video made some good points about inflation IMO. $20 for a gallon of milk if lucky. If that happens there will be serious consequences for most of us in America.

What little money we have extra we do buy gold overseas which is 23 carrot. Not much but it would keep us in rice for awhile; with the wild fluctuations of gold prices we try to buy at the perceived low point. Wife is interested in that so she watches the market and listens to one of her cousins who owns a modest gold shop.



posted on Apr, 3 2013 @ 11:14 AM
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It sucks that you have your money locked up in such a way, OP, but you may want to consider which would be worse: Pulling your money out and taking the penalty hit (never a pleasant thought), or letting it sit where it is and praying that whatever haircut you get is just a little off the top.


I agree with everything you said; last time I checked it was a 35%+++ penalty plus the loss of gain which for me runs 6+ to 8+%. I get a check every month (and pay 25% tax on the amount which may go up this year?) yet the fund usually grows because I only take out 4% annually. So do I bet the farm on the crash or hide my head in the sand and refuse to believe Cyprus is the new road map? Timing is everything, no?

Myself like many have been poor before even though I worked my tail off; never want to go there again. My biggest comfort is I am old and maybe I will not be around to see what might be heading this way....or on the other hand "old and feeble" (or just old) in the mist of total societal break down is not something I look forward to....
edit on 3-4-2013 by 727Sky because: +++





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