Gas Bandit's Political Thread V: The Vampire Likes Bats

@Li3n

@Li3n

Frank said:
Like that's a good thing?
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The sad thing is that they've been broadcasting the fact that they're terrible people that are ok with crimes, as long as tehy're done by someone on their side, for a while now, and yet they still got votes.[DOUBLEPOST=1517741611,1517741529][/DOUBLEPOST]
Gruebeard said:
So, does that put Hannity on the same pedestal as Dr Manhattan?
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Manhattan just caused cancer, Hannity is cancer.
 
PatrThom

PatrThom

DarkAudit said:
Which reminds me, we haven't heard much from Rush Limbaugh in a while. Not that there's anything wrong with that.
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Searching the news for his name just brings up an article suggesting that iHeartRadio is only a month or two away from declaring bankruptcy.

—Patrick
 
Tress

Tress

That’s what you get for having an income, suckers! I don’t have these bad things happen because I became a teacher and don’t get paid shit! Boo-ya!
 
@Li3n

@Li3n

GasBandit said:
Yeah. My IRA just lost everything in 2 days that it made throughout all of January. I imagine most other people with IRAs experienced the same.
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Covar said:
my 401k is now down nearly 2% YTD :(
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On the bright side, since you can't get the money until you retire anyway, the market fluctuations don't matter yet... you're only fucked if it takes a dive when you retire. Good luck, boys....
 
Denbrought

Denbrought

@Li3n said:
On the bright side, since you can't get the money until you retire anyway, the market fluctuations don't matter yet... you're only fucked if it takes a dive when you retire. Good luck, boys....
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You can take money out of 401ks/IRAs/etc through a variety of mechanisms before retirement (loan, 72t, Roth ladder, unqualified distribution...), it's just generally not advisable to do so.
 
Dave

Dave

Staff member
You lose so much in penalties and fees that you're much, MUCH better off just holding pat until the market comes back. Unless we hit a new depression, you'll be fine.
 
GasBandit

GasBandit

Staff member
Dave said:
You lose so much in penalties and fees that you're much, MUCH better off just holding pat until the market comes back. Unless we hit a new depression, you'll be fine.
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Well, you can do some chicanery without penalties, like for example I could move a lot of the money out of a mutual fund and into a money market fund, then move it back when I think the market has bottomed out. Since it's still in my IRA account, it doesn't count as withdrawing it. Thing is, the trades often take many days to go into effect, so it's cumbersome to do and it's easy for the benefit to be lost to that delay.
 
PatrThom

PatrThom

You’re supposed to shift your IRA anyway from high-risk towards low-risk over time as you approach retirement to minimize your exposure to market swings like this one. If you’re not doing that, you’re not IRA’ing right. IRAs are not about growth, they are about preservation of buying power.
figmentPez said:
I guess you're assuming that Bitcoin will take down other cryptocurrencies with it?
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Bitcoin hasn’t been about GPUs for a while now. What I’m hoping is that the other cryptocurrencies increase their difficulty/requirements such that they outgrow GPUs like Bitcoin did. I only use Bitcoin as an indicator of the market as a whole, much like I would use McDonald’s for fast food or Coca-Cola for soft drinks.

—Patrick
 
strawman

strawman

I don't think "take down" is the right word, but all the other cryptocurrencies are valued based on bitcoin still. The exchanges that have $ amounts for other coins base those decisions on how much bitcoin those other currencies are commanding, not dollars.
 
GasBandit

GasBandit

Staff member
@Li3n said:
Or right, you guys have fully privatised pensions, right?
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Heck, Galveston, TX has privatized "social security," and it outperforms the socialized federal version. Which, of course, meant that it had to be made illegal for anybody else to try.
 
@Li3n

@Li3n

GasBandit said:
Heck, Galveston, TX has privatized "social security," and it outperforms the socialized federal version. Which, of course, meant that it had to be made illegal for anybody else to try.
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To be fair, a pair of socks could run the "socialized" federal version of your social programs better then your government... and i'm not so sure that's not intentional.

Meanwhile, in UK-istan, they're protesting over trying to screw over the NHS (and Trump lies about it).
 
Denbrought

Denbrought

@Li3n said:
Or right, you guys have fully privatised pensions, right?
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For the most part. Some professions (government/public jobs, for example) do often have traditional pension system in place, but AFAIK they are not the norm.

Anything with IRA in the name (traditional, SIMPLE, SEP, Roth) or a 4##(x) name pattern (401k, 403b, 457b, their Roth counterparts...) is the equivalent to a private (or private and employer-subsidized) pension plan.
 
jwhouk

jwhouk

My Deferred comp was in basic interest. I didn't earn much in interest, but I also didn't lose anything due to crap like this.

My main problem was that I should have put more into it, but that's another story.
 
DarkAudit

DarkAudit

All that news about Cambridge Analytica shutting down? Not so fast.

Reminds me of a quote from the second series of the HHGG radio show about the Lintilla clones...
the lawyers, who experimented vainly with ways of redefining murder, re-evaluating it, and in the end, even respelling it, in the hope that no one would notice
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Emphasis mine.
 
PatrThom

PatrThom

Yeah, I saw that.
It's Philip Morris/Altria all over again.

"Companies are immortal beings who live forever and never pass on their wealth."
"...until we want them to. Then we murder them at a time of our choosing, harvest their components, and build a new one."

--Patrick
 
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