June 06, 2008

It really is amazing how many Americans live beyond their means, don't save, don't prepare for retirement, and pretend they're rich when they're not



As Buffett says, you can see who's swimming naked when the tide goes out...

38 comments:

Anonymous said...

Save??? You can't save in this country its a net loss because of inflation. Give me an interest rate of 10% and Americans would consider it. And in real terms I would be making 3%...

He's No Johnny Carson said...

Fuck Him. 85 yeras old and going down the bowl...

Put his stuff out on the curb (including the umpteeth wife) and let it rain on them.

That's what living by Psycho Spear will do for you...

No Bailout, No Mercy, No Nothing, Ed.

Anonymous said...

One thing I have learned over the years is that just because someone has managed to earn significant $$$ does not guarantee that they are intelligent. Many many many have "lucked" into the millions they have. Many end up losing it rather quickly.

Anonymous said...

A great article from Karl Denninger on public education and the stat of the economy:

Denninger on Public Education System (aka the Government Indoctrination System)


In other news, Bernanke is at Bilderberg today. Ask yourself why is this guy meeting in secret with the representatives of the international banks, Rockefeller and European royalty? Why do mainstream media chief editors attend the meeting but never mention it in their publications?

Hmmmm.... Maybe it's because you're all slaves to the elite and they don't want you to know?

The Official Bilderberg 2008 Participant List

Anonymous said...

As I said here many times before:

Attention, attention! Calling all sheeple to jump in the rotten market just to be fleeced a few days later. Attention!

DOW = -350 pts

NAS = -2.60%

S&P = -2.44

Oh yeah, that's what I call a bull market. Have you lost your shirt yet, sheep? Enjoy your retirement in poverty.

DOPES

Anonymous said...

Why don't he just rig his lottery and win 10 million to pay off his house?

Okay, maybe make his daugher win it.

Anonymous said...

Agree with your sentiment, but please change "their" to "they're".

Mark in San Diego said...

And the lender. . . .drum roll. . . .COUNTRYWIDE!!!!. . .

Scott said...

Did anyone else see the McMahons on Larry King last night?

(paraphrased)
King: "A lot of people would think you'd be very wealthy with the career you've had."
McMahon: "Well couple of divorces took their toll on my wealth, and then I broke my neck."
Wife: "Well, you know, maybe he didn't have anyone very good managing his money."

Jeepers. If you're not rich, if you've never saved any money, if you never had good financial management to grow wealth you DO have, then WHY ARE YOU BUYING MULTIMILLION DOLLAR HOUSES IN RICH-LAND?!

You're in the TV entertainment industry, a very up/down career rollercoaster. EVER HEAR OF SAVING SOMETHING FOR A RAINY DAY?

And, if you aren't so super-rich that you can afford to self-insure for losses--then HAVE YOU EVER HEARD OF DISABILITY INSURANCE?

Come to think of it, HAVEN'T YOU ACTUALLY BEEN A CELEBRITY SHILL FOR SUCH INSURANCE????

Anonymous said...

nice mouse cursor on that staircase photo, weird

he was in front of a simpsons movie poster, which was very recent, maybe he made a lil $ on that, odd

tivo'd the larry king story on him last night, looking forward to larry's softballs

G said...

This is just the beginning. We're going to see plenty of "naked" people as this tide goes out.

Just saw in another article that Evander Holyfield, who made $120 million over his career, is now in foreclosure on his home, and behind in child support payments.

I don't know how many times I've heard people tell me, when I question an overpriced home purchase, that "it doesn't matter how much it costs - they're rich". I guarantee you - if you are rich and have that attitude, you WILL go broke eventually.

The top end of the real estate market will be just as hard-hit, if not worse, than the low end. The "rich" people just have more credit to keep the fraud going longer - that's all. But it will end all the same.

Smart rich people don't flush money down the toilet. Dumb, temporarily rich, people do that.

Anonymous said...

How does one save in America when more than half of our income is stolen via taxes and inflation?

Anonymous said...

Oh ho ho ho ho ho ho.... YES!!!

You're SO funny, Johnny!

:-D

Anonymous said...

I'm watch a few acquaintances heading for a train wreck.

One is in foreclosure and filing BK. Refied to the max and wham.

Another has the attitude is it's all about me and right now. Spending money they don't have, trying to keep up with the Jones.

Then their is the one on government aid, spending money and having fun with whats left. (on the tax payers dime.)

Meanwhile I sit and watch, living somewhat frugally off the savings made during the good times. This "vacation" with plenty of free time I had planned long ago.

But when things get better it's back to work and "make hay while the sun shines". Not sure if I'm looking forward to that though:/

Anonymous said...

MC Hammer
Mike Tyson
Willie Nelson

Anonymous said...

Agree with your sentiment, but please change "their" to "they're".

And the Buffett quote should have his name ending in two "t"'s not one. Though I guess I'd eat at a buffet if Warren Buffett ran it.

Anonymous said...

that's what he gets for marrying gold diggers. there is no fool like a old fool. be a good old soldier , ed and just go away...thanks for the memories pal....

Anonymous said...

How can anyone feel bad for this guy? Even if this guy was an ultra lazy investor and only put away 10% of his earnings in the S&P 500 he would have $100MM plus.

JC said...

At least Ed's money lasted him until he was 85. Back when he planned for retirement, he probably only expected to live to 70.

Anyways, the bottom line is, don't live beyond your means, don't spend money you don't have, don't plan on dying broke (with today's advances in genetics, people in their 30s now could live to be 110, for all we know), and don't get married without a pre-nup (unless, of course, the person you're marrying is wealthier than you and doesn't ask for one).

LauraVella said...

I can tell you why he's in debt...

check out the trophy wife...

Very high maintance indeed.

Probably cried and begged for a mcMansion until he gave in.

Stupid is as stupid does.

investorinPA said...

Rumor has it that Publishers Clearing House is going to send you an envelope with Ed McMahon saying "Congratulations!! You may have won the 5 million dollar bailout bill" in which one lucky magazine subscriber will find out on National TV that they can pay Mr. McMahon's mortgage!

Anonymous said...

And, if you aren't so super-rich that you can afford to self-insure for losses--then HAVE YOU EVER HEARD OF DISABILITY INSURANCE?

Come to think of it, HAVEN'T YOU ACTUALLY BEEN A CELEBRITY SHILL FOR SUCH INSURANCE????

--------------------------------------

my thoughts too.

also, WTF is an 85 year old doing with a 4 Million dollar mortgage??? does he still have 20+ years left on it? would sane lenders enter into a 30 fixed with an 80 year old person? who makes a living making commercials?

Yoski said...

Yeah, I haven't been able to sell my estate because of that Brittany slut next door. Life's a bitch!

Yoski said...

You fuckers are heartless, it's not nice to make fun of an old man and his grand daughter getting kicked out of their home. Shame on you!

Frank@Scottsdale-Sucks.com said...

Attention, attention! Calling all sheeple to jump in the rotten market just to be fleeced a few days later. Attention!

The public stock markets are for suckers. By the time a stock goes public, most of the real money has already been made. Private placements are where it's at, if you qualify and know what to look for.

wings said...

I like it when lecherous old fools are fleeced, the tide goes out, and their donk is blowing in the wind.

Cheers!

Anonymous said...

She must have blown $500,000 just in plastic surgery. The worst plastic surgery is done in the US. Nothing but crooks posing as "surgeons of stars".

Anonymous said...

.



Heeeeerrrrreeeeessss...Foreclosure





.

Anonymous said...

Oh, yes. It's taxes that are killing us! Wanker! It's jackasses like these - that can't see "no good comin' from it" - that have let infrastructure in the US rot away.

lunatic fringe said...

Great, now I have the mental image of Ed McMahon swimming naked going through my head. Thanks a lot, Keith.

Anonymous said...

Boo fucking Hoo for Ed McMansion. He is 85 years old and made tens of millions of dollars being a retarded giggling side kick. Of course he blew it all!

Put his shit on the curb and he and his boob job trophy wife can go live on skid row.

Anonymous said...

At one point, when McMahon was still on his first wife and Johnny Carson was on at least his second, McMahon was reportedly wealthier than Carson, despite Carson's vastly higher income. If McMahon had stuck with Wife #1, he would probably still be very wealthy. The first wife who spends the first decade of marriage scrimping and saving will rarely, if ever, burn through money the way the later trophy wives do.

If Wife #1 got a big cut of McMahon's wealth, that is NOT unreasonable. She was married to him for a number of years, and I think they had a bunch of kids. Maybe 8 or 10.

Anonymous said...

Alot of people live this way. Just like their eating habits. Eat junk and fast food because "life is too short, enjoy" so he gets a hot young wife and lives it up. Very typical

Anonymous said...

"check out the trophy wife..."

yeah, the trophy wife is the FASTEST DEPREICIATING "asset" around.

I just love wathcing rich people go bust. Har har !

Anonymous said...

"Yeah, I haven't been able to sell my estate because of that Brittany slut next door. Life's a bitch!"

Dont worry, Britney will be losing her house to foreclosure as well, and soon.


snicker.

Anonymous said...

And then he goes on Larry King show begging for help with his botox wife.

Mitesh Damania said...

I can't wait to see the video of the Sheriff walking on the driveway to the front door with a blownup eviction letter.

screwchina said...

Just passed in congress:

"The Ed McMahon bailout" bill.

Quick, check cspan.

Couldn't happen to a nicer guy.