RE: The Big Boomer - An Equity Vortex Primed To Implode by chekohler

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Viewing a response to: @cmplxty/re-chekohler-qkv6zv

hive-167922 · @chekohler · Dec 5 '20

So why doesn't your dad cash out at least a little bit of it take some profits and not just try to ride their luck, I would imagine people who did that continuation scheme for a few years should be sitting pretty now in nominal terms

I agree I feel like the longer they suppress a correction and volitilty the more violent the come down will be, I mean when people start selling who are going to be the net buyers of the stocks? Theres no support its going to end in tears for sure

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@cmplxty · Dec 5 '20 (edited)

The shitty part about the regulations on it is you get slapped with a huge tax if you draw from it until a certain age, 59 and a half (wtf is half for lol), like 35% or something it's wild. He can't draw from it for a while but he's so sold on it he doesn't listen much to me lol. He comes around eventually on some stuff but it takes a while. With this it will take a while for sure.

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@chekohler · Dec 5 '20

Oh, so they basically hold your capital hostage and burn you if you want to get out of their Ponzi schema nd make those so-called "profits" real, wow it really sounds like a racket, for real. 35% is NUTS then what the point of investing is? Your investment would have to do insane multiples to make it worth covering the tax lol wtf?

In your opinion, has prices changed in your part of the world? Are food and groceries getting more pricy? are peoples buying habits changing?

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@cmplxty · Dec 5 '20

Yup pretty much! They try and coax you into holding it, saying how great it is but you can't touch it until their scheme is over. 

We haven't noticed changes in prices our lives personally but that's more related to us eating mostly vegetarian and cooking most of our food. We rarely eat out except for pizza but the Boston area is more financially stable than others given all the stuff that goes on here so we won't feel it for longer.

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