Given the large number of support requests opened on this topic, this should probably be linked from http://www.livejournal.com/support/ and perhaps emphasized on the FAQ page itself.
I'm having problems accessing pages on LiveJournal. Why is this?
We understand the frustrations that these problems might be causing you and the administrators of LiveJournal are constantly upgrading the performances of the free servers to meet the needs of the growing number of users.
When you encounter errors like 'Time out rendering page' or 'Sorry The page you were trying to view failed to load', this is normally due to a high-volume of LiveJournal users hitting the free servers during peak hours (generally between 11:00AM-2:00PM and 5:00PM-8:00PM).
If this is the case, wait for couple of minutes before hitting the refresh button. Constant refresh will contribute to the high load that the servers might already be experiencing. Another suggestion is to try accessing the servers during non-peak hours.
You might consider becoming a paid member. Paid members hit their own set of "paid servers" which has less of a load and can cause less problems (along with some paid members perks, see http://www.livejournal.com/paidaccounts/). A two-month membership is only five dollars and when the paid status expires, you'll revert back to free-user.
For outages and prolong server errors, please visit http://status.livejournal.com for additional information on any oustanding performance issues. You can also add lj_maintenance as a friend for up-to-date changes to the system.