Presented Without Comment

160
Thu, Dec 1, 2011 - 10:55pm

For laughs and maybe even for some semi-serious discussion, the following is presented for your consideration.

Caution: If you are easily offended, you might want to skip this entirely.

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  160 Comments

maravich44
Dec 2, 2011 - 1:33am

.@atarangi..

..light worker, are you?

Senseosensei
Dec 2, 2011 - 1:35am

Video comment

Yes, everyone has to work to make a living.

And it used to be that if you worked hard, you got the reward(s), and your kids would see you as an example on how to live a fruitful life.

And then you wake up, and realize most of what you earn goes into a system that mostly benefits 1% of the curve. Taxes, your 401k that gets busted, hidden inflation, wars you never asked for, terrorism laws that make you stand in line at airfields to get stripped like some piece of meat. And if you happen to get into a situation where you fight for what you thought were your rights, be it MF Global, a foreclosure of your house that wasn't the banks to begin with, or something else that goes against the system, you find out the laws were not for you and you get screwed by the very own people you voted for.

While, at the same time, you see politicians, bankers, and other "self made men that embody the american dream" that enrich themselves with louche deals, in a very dishonest manner.

In such an environment it is very hard to keep the faith.

foggyroad Temporalist
Dec 2, 2011 - 1:35am

@ Temporalist

I agree Carolla"s introduced two topics and mixed them together, one, people"s sense of entitlement and envy of rich people, and OWS'ers anger at Bankster's looting of America.

Quite clever really.

OWS'ers, righteous anger at being reamed is being spun like this by all msm types.

I have heard very little real analysis of why, thousands of out of work people, retiree's, students indebted to the teeth, are willing to brave, pepper spraying lougens, slagging by so called" peoples representatives", cold and misery to exercise their constitutional rights to peaceful assembly and speech.

I know why, but, Why dosen't the so called journalists in the country want to know?

cris
Dec 2, 2011 - 1:36am

Yeah, it is a little offensive actually

Corolla starts, as many other do, from a fundamentally flawed premise and a fundamentally flawed logic. It doesn't matter how much the "top 1%" of the population pays in taxes - the critical issues is what percentage of their RESURCES are paid in taxes. If the top 1% of the population has 50% of the resources, DAMN RIGHT they should pay 50 of the taxes. Of course, it is perfectly understandable why the argument is framed the other way - it makes the argument SOUND more reasonable. It FEELS correct. But it isn't. And there is NOT a problem with ENVY. There is a problem with fairness. People don't ENVY getting raped. Or for that matter, they don't envy the rapist because they would rather be the one doing the raping. They understand at a fundamental level that the entire process of the rape is unjust. We are being raped by the kleptocracy. Btw, great explanation at ZH tonight: https://www.zerohedge.com/news/hedge-fund-insider-explains-why-retail-in... so ass douches like Corolla (his term) can continue to get laughs from people who cannot think critically about simple math, nut it doesn't make him correct. and I love how hypocrites who support this line of thinking are often the very first people to also invoke family values etc in conversations about social issues as if they are "Christians", when this type of philosophy is the very last thing Christ would have supported, at least in my reading of His teachings.

Gil
Dec 2, 2011 - 1:38am

Disclosure: Adam Carolla is a

Disclosure: Adam Carolla is a comedian, not a financial analyst. If you must flame, flame him for bad comedy, not for an analysis of the financial crisis that he did not offer.

cris
Dec 2, 2011 - 1:43am

Presented without comment

From ZH: Zero Hedge had been advocating that regular retail investors shun the equity market in its entirety as it is anything but "fair and efficient" in which frontrunning for a select few is legal, in which insider trading is permitted for politicians and is masked as "expert networks" for others, in which the government itself leaks information to a hand-picked elite of the wealthiest investors, in which investment banks send out their "huddle" top picks to "whale" accounts before everyone else gets access, in which hedge funds form "clubs" and collude in moving the market, in which millisecond algorithms make instantaneous decisions which regular investors can never hope to beat, in which daily record volatility triggers sell limits virtually assuring daytrading losses, and where the bid/ask spreads for all but the choicest few make the prospect of breaking even, let alone winning, quite daunting. In short: a rigged casino. .............. I'm writing this in hopes that the OWS movement can have a better understanding of the hedge fund industry and the financial markets. With OWS being the zeitgeist of current politics, I think it's important to know how exactly the hedge funds, along with the financial markets are destroying the 99%. Hedge funds. These guys are basically the vehicles of choice for ultra-rich people to get into the financial markets, besides family offices and private wealth managers. What are hedge funds? They are funds that have a 1-5 million deposit minimum, cater to the mega-rich, and can invest in anything without regulatory restrictions, use leverage to pump up their exposure by 15x, and pretty much eat up a vast majority of the industry's profits. These guys invest in EVERYTHING. Instruments you've heard of - stocks, bonds, forwards, futures, currencies, and instruments that you, me, or anyone else have never even heard of, much less know anything about: commodity future swaptions, FRA/OIS swaps, CLOs, exotic future options, p-notes, index/commodity/equity exposures, and a huge array of OTC (over-the-counter) instruments that no regular investor would ever have access to. Why I bring this up: the financial markets are rigged. 99% of the investing public has access to services such as basic brokerages, 401k/IRA's, mutual funds, pension plans, etc. Some of these services, especially pension funds, will invest into hedge funds, who take an additional 2 and 20 (meaning 2% of assets plus 20% of capital gains). What this means is that if you go any of the traditional retail routes, you are utterly screwed facing off against the hedge funds. First, you are paying exorbitant fees. Commissions on every stock trade. Mutual fund managers taking a cut - an annual % cut, as well as a % per profit cut. If these managers (i.e. pension plans) invest in another fund, that fund is also taking another % cut. You're down 2% the minute you invest your money. Next, if you're doing the investing yourself, you're paying ridiculous spreads. The bid/ask spread of a stock will cause you to be down another 2-3% the minute you buy the stock. For example, if you're buying a share of company at $4.25, you can sell back at only $4.15. Furthermore, you have absolutely no chance in terms of access to the best services. Hedge funds have a direct line to investment bank's institutional brokerage teams - these are the guys that spend day and night sucking up to hedge funds, trying to get them the best deals at the cheapest rates. This means that while you're buying stocks and bonds, hedge funds are getting special rights, warrants, sweetheart deals, private placement deals, options, bigger discounts on bonds, and much better bulk commission rates and lower spreads on stocks. If you're paying 4.25$ for a 4.15$ stock, they are paying something like 4.16$. And they are eating alive your profits because when the stock goes up to $4.30, they can activate another warrant to purchase 20m shares at $4.25, diluting the value of your shares. Next, you lack information and exposure. You have no idea what is going on in the market besides what you see on the news - while hedge funds have analysts working around the clock and a bunch of service providers who give minute-by-minute analysis of their portfolio opportunities and weaknesses in all markets with exposures to nearly everything. Meaning, if there is an opportunity in the real estate market (i.e. legislation), it might take you weeks to get in - hedge funds will have gotten in the minute the legislation was passed. Furthermore, when IPOs come out for companies, hedge funds get top billing on the primary market shares - which means investment banks are selling directly to them. Once the secondary market becomes available, hedge funds are up 15-20% on these investments, sometimes within hours. Finally, you have no capital compared to these hedge funds. The people who invest in these hedge funds are not just the 1%, they are the 0.1%. These are the guys with 500million dollar bank accounts and the ability to do whatever the fuck they want. Hedge funds know this, and they invest without having to care about whether their clients can pay the rent or send their kids to college. All of that is irrelevant. Their sole purpose is to earn money, not to mitigate risk. ........... More at link: https://www.zerohedge.com/news/hedge-fund-insider-explains-why-retail-in...

Drifter
Dec 2, 2011 - 1:44am

@ InterwebzMonies

First Majestic is expensive. It cost me $110 to ship 180 oz to the US. They make up the credit card fees + in the ship fee. You can catch them just right before they adjust the web site price but it seems more attractive then it is.

The courier = UPS Courier Services. They bill you extra money for delivering...and send it right out to collections if you don't pay. Some people report being COD'd upon delivery, my bogus bill came 30 days later.

If you order more then 1500-2k USD you may be required to tell UPS CS your taxpayer id #/ social security # so they can tell US Customs, or so they say.

As soon as I advised CHRISTINA STONE of FM of these problems she turtled up, but not before she made the mistake of telling me via e-mail that FM was aware of the problems already.

If you're in the US I advise you to go with Gainesville, Provident or Tulving for larger orders. If you're in Canada I bet they work out great.

atarangi
Dec 2, 2011 - 1:44am
Canadub
Dec 2, 2011 - 2:01am

@Drifter

I hear that. Same song and dance for us going the other way over the boarder with the American dealers. As in almost everything; location, location, location. That's too bad you had a not so great experience. I go to the office to pick it up next day, and they have a couple cute secretaries ;) I was just a little put off when buddy called it out twice probably for the shear fact its not listed on his site, so hes not getting a commission off the referral. Cheers!

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