Another Ponzi scheme
Bill Hartman, Emporia
Tuesday, April 7, 2009
We have all been painfully educated that a Ponzi scheme is where the unethical fund manager sends out money to his qualified clients to a greater extent than what is coming in.
It is being said that Mr. Madoff ran the largest one in history.
This is a lie. There is a larger one.
It is called Social Security. (Take into account all the IOUs from our Treasury plus the future unfunded obligations and one can see how more money will be going out than in. Does anyone think that this will ever be repaid or come into true balance?)
I hope that someone corrects me on this one. Perhaps they can by pointing out that the U.S. government can just print more money to cover any shortfall. I guess that this is true, but doesn’t that make this national Ponzi scheme even worse?
Bill Hartman
Emporia
madpoet (anonymous) says...
Too true. I know there will be no money in Social Security by the time I am old enough to collect. But the government sure sucks it out of my paycheck every month.
April 7, 2009 at 2:16 p.m. ( permalink | suggest removal )
create (anonymous) says...
Thank you for your support, madpoet.
April 8, 2009 at 7:56 a.m. ( permalink | suggest removal )