I warned people for years that the financial markets were corrupt

[specimenfred1984]

A lot of the time I even did it right here on DU in the stock market watch daily thread. Now that everything is collapsing, I have ZERO pity for those who chose denial over learning. I've been dismissed, minimized, ignored, screamed at, called a liar, called a traitor and now am called a terrorist for simply telling people the truth about the culture of corruption in America.

Most people I talk to seem to take pride in their own stupidity, it's sad but true. They could absolutely care less what I have to say about anything, regardless of my background in financial markets and my decades of experience. America is a propagandized, dumbed-down and proud-to-be-stupid bunch of frauds, so conceited about their limited knowledge of most things that reeducating this country is going to take a lifetime.

As usual, the reeducation will take a major disaster to awaken people from their greedy and selfish stupors before it can even begin. As our markets and economy collapse, I suppose this will wake a few people up but most will stay ignorant. One really promising sign is the amazing amount of young people that have taken an interest in the American system. We can all learn from each other if we simply make an effort.

[Tinksrival]

1. Anyone remember the poster Joe4Clark

He was an accountant from California that was warning the DU over two years ago. I think he was run out of here.

Hey Joe........YOU WERE RIGHT!!!!!!

[malaise]

7. I remember well and he sure was right

There are other DUers who have been warning us for ages about the coming depression/recession/whatever.
Thankfully I learned from them and warned my siblings and their spouses.

[TexasObserver]

24. He said a lot of things, most of them incoherent, if not simply wrong.

If he was right about the markets, it was by accident.

And I seriously doubt he was an accountant. He never evidenced ANY basis to support that claim.

He spent most of his time ranting about how there was going to be a huge military battle in northern Iraq. Frankly, he sounded and behaved like a person with a tragically out of control addiction to alcohol, and his scattered thinking reflected that.

If you want to talk about the collapse of the markets and the incestuous relationships between government and those it is supposed to regulation, I'm there. But using that guy as authority for anything is not deserved.

[2speak]

2. The three stages of truth

First, it is ridiculed.

Second, it is violently opposed.

Third, it is accepted as self-evident.

[BlooInBloo]

3. mmm.... Delusions of grandeur... It's the other *other* white meat!

:rofl:

[nichomachus]

10. Screw you

Plenty of people were ridiculed for warning that this things was going to collapse.

I was one of them. Thank god I put my money where it was relatively safe, sold my overpriced house before the value dropped, and bought a fuel efficient car before it was a necessity. People scoffed at me and called me names. They are all crying now.

[endthewar]

14. Good grief...

I'm glad that you take delight in other people's economic suffering. :eyes:

[greguganus]

19. You forgot to mention you built that boat, gathered animals in pairs, and warned us about the rain.

:eyes:

[nichomachus]

37. And I repeat what I said above

[greguganus]

39. I grew up poor so I've always played it safe.

This bailout was crap from the beginning. I wish Obama had been against it, even though it would of still passed.

[slipslidingaway]

4. Agree....

"We can all learn from each other if we simply make an effort."

[Roland99]

5. Hear! Hear!

[earth mom]

6. The denial is everywhere. People don't want to admit this whole thing is Enron on steroids.

The corporate bastards cooked the books, and the brokers went to town wheeling and dealing with everyone else's money.

I've known since I was a kid being raised by parents who were children on the depression that the stock market was extremely risky and that you only invested money that you could afford to lose. Investing something as important as a retirement in the stock market has always seemed absolutely insane to me.

It's all just common sense, but it seems that common sense has flown out the window in this country all for the illusion of a quick & easy buck. :yoiks:

[leftofthedial]

8. I've been routinely vilified here and elsewhere for pointing out the corruption,

the valuelessness of the stock market and the fundamental wrongness that American capitalism has become.

I'm proud to say my friends and family have suffered minimal losses because they believed me.

[Holly_Hobby]

9. K&R! n/t

:kick:

[alittlelark]

11. I feel your pain..... I tried to expose the LOOTING

And was laughed at and derided.

I wish I had been wrong.

[eridani]

12. Don't forget Crewleader in the Economics section

I finally got what was going on in housing from reading her posts. I took the advice of all the Cassandras and am comparatively OK, though when the shit hits the fan we'll all get splattered pretty good.

[magellan]

13. I've been listening, and passing on the warnings to others

...for two years. I was laughed at and told I was being ridiculous too. I really hoped they were right....

This is just another one of many "told you so" moments that is of no comfort. The damage is done and the stupid out there is too entrenched, as is the lack of willingness to accept they were wrong and learn something constructive from it.

[endthewar]

15. Please educate us as to what is the best path forward for the government now Nostradamus

:hi:

[magellan]

17. This is the kind of snark I expect from the slow on the uptake

If heeding the warnings and seeing dire predictions come true makes ME Nostradamus, then the people I've been listening to, like the OP, are GODS and you should bow down to them in humility.

[endthewar]

18. So what do you think the government should do now?

You can start with your take on the government bailout / rescue plan. Or do you not have any ideas and just want to rant about "I told you so!"?

[magellan]

21. You just don't get it, do you?

One doesn't need a degree in economics for things to MAKE SENSE or NOT. I wasn't making predictions or forecasting what would happen; I don't have the training for that. I was simply reading people here and offsite, concluded they had a valid point, and warned others about what I was learning. Why that appears to translate to you into something worthy of attack would seem to correlate directly to your position as pro-bailout and the back-pedaling you've since had to do on how quickly it was supposed to help.

Suck it up, you'll get no satisfaction from me.

[endthewar]

22. I've protected myself from this economic crisis pretty well

Too bad you're the one making ASSumptions. :rofl:

Sounds like you have no clue about what's going on with this economic crisis. Is the bailout a good plan or not? Didn't seem that hard of a question to me. :shrug:

[magellan]

26. I see I was wrong about you being pro-bailout

...and apologize for that.

I'm still puzzled by your need to unload a ration of shit on me with no provocation.

I opposed the bailout from the beginning. It was a mistake and will cause more problems than it fixes. Just my opinion, whether or not that's all right with you.

[endthewar]

30. Apology accepted

:hug:

Personally, I think that people in general are too touchy and sensitive online. I was honestly only trying to crack a joke with the "Nostradamus" jab at you. I thought it was kind of funny. :rofl:

My opinion is that people are too focused in the wrong way on the bailout. First of all, none of that money has been spent, yet most people talk about it as if the money has already gone down the drain. I find that kind of puzzling. Paulson said that he could only spend $50 billion per month and that the program is several weeks away from being started. Also, when this is all over, $700 billion will look like a drop in the bucket.

I do take exception to the sentiment of this thread in general though. I guess you just happened to be the random victim of me ranting. :hi: I think this thread is the proverbial kicking a fellow man when he's down. I bet that some people have been crying over their economic prospects. I always viewed the Dem Party as reaching out to help your neighbor, not chastising them for their mistakes. I don't think it's particularly nice to rub salt in their wounds right now.

Sorry if I offended you. :hug:

[endthewar]

23. By the way

my other favorite online site is tickerforum.org . I think I know a little bit more about economics than you think. I recommend you not click on that link though. They have lots of big words over there. :rofl:

[magellan]

27. Where did I say or even suggest

...that you didn't know anything about economics? Talk about making assumptions.

:rofl:

[endthewar]

31. "from the slow on the uptake"

For some reason, I didn't think you were complimenting me. :rofl:

[magellan]

32. Hm, that wasn't a comment on your economics knowledge

...but on your general character, in response to your nasty, misplaced sarcasm. And from this exchange, I see I was being too generous.

[endthewar]

33. Good grief...

:rofl:

[magellan]

35. Interesting. You feel free to go around offending people for your amusement

...and then have the nerve to accuse them of being drama queens when they don't see the "humor"?

You've now proved yourself to be someone I don't need to know. I'm sure the feeling is mutual, which suits me fine. Welcome to my ignore list. A person really has to be an ass to get there.

[endthewar]

38. "Nostradamus"

Said to someone trying to rub salt into people's economic wounds.

Oh noes! Not the ignore list!!! :rofl:

[magellan]

28. Oh yes, I've been to tickerforum

So much for YOUR ASSumptions.

:eyes:

[slackmaster]

40. If you keep making the same prediction about the markets over and over and over

Eventually you will get it right.

[lligrd]

16. Maybe I Can Earn Some Pity

I did the same and have nothing invested. However my pension fund, beyond my control, apparently ignored my advice and lost millions. In addition, some family members (including my 19 year old son who had a very large trust fund due to a childhood accident) chose to listen to their financial advisers instead of me (I have no financial training training beyond undergraduate accounting classes and life experience so I can't really blame them).

Are you really going to blame those that have pensions invested beyond their control or those that paid for and listened to their financial advisers? How about me, who did everything right and still will have to support those that didn't and is still waiting to see what will happen with my promised pensioned account?

I am not complaining, I always expected this but you do realize that many will be hurt beyond their control, right?

[NNN0LHI]

20. I tried warning friends and family and was ridiculed too

Now they hate me for being right and act like it was all my fault that they lost their ass.

People are funny.

Don

[TexasObserver]

25. Since January of this year, when I got out of the equities, I have begged people to get out.

I've persuaded some, and others were less receptive. And here at DU, I've consistently done the same, particularly the past three months, when I've practically begged others here to GET OUT and get into something safe for a collapse.

Look at any post I've made the past month on the markets, and I've consistently said "it's going to 9000 or below." And I was attacked by a number of posters for saying so, up to the start of this week.

I have one client (a non profit run by a board) whom I begged to get out, but it's a board, and they went with their stockbroker's advice to stay in the market. They've lost over one million dollars in their port folio's value in the past two months, and now they're in shock. Some of the board members did see the problem coming, but the majority thought the "safe" thing to do was to follow their broker's advice.

Many people have seen this collapse coming, and many of them are here. Most of us understand the lack of regulation is the core problem, which leads to rampant leverage. It had to come down, and now it has.

[B Calm]

29. Americans need to face up to the fact that their $20k, $100k and $500k stock

investment portfolios are being used as a Cash Cow, to be milked, harvested, and to funnel our investment funds to the robber barrons.

[Hannah Bell]

34. hey, the boomers were going to cash out en masse over the next 20 years

and tank the ptb's stock values.

pre-emptive strike. they tank, you have to sell at a discount. :>)

[Hubert Flottz]

36. The world superbankers pull the strings and reap the spoils.

[slackmaster]

41. People on DU have derided me for years for collecting firearms as part of my retirement plan

Even my mom, a veritable financial wizard, questioned the wisdom of collecting weapons. I sold off most of my gold and silver in early March about when they peaked, and used the money to buy MORE firearms.

Who else has TANGIBLE assets that keep GAINING value over time regardless of what the financial markets do?

[earth mom]

42. Morning Kick! nt

[The Backlash Cometh]

43. Oh, honey. You're not the only one.

Within the first year of signing up here on DU I was talking about it. Without even fully understanding the degree of execution as far as financial consultants pushing their own stocks on t.v. I could still smell the stench from Wall Street. If DU began in 2001, then somewhere in that year my posts will come up talking about how the stock market was one huge ponzi scheme that was collapsing all too often, rewarding those at the top who could get out in time before it was milked over and over again. This discussion was very much tied into the subject of privatizing Social Security. In the end, they got that golden nugget too.