Largest Ponzi Scam Ever Discovered!!

Re: Largest Ponzi Scam Ever Discovered!!

PostBy: mikeandgerry On: Wed Mar 25, 2009 9:47 pm

tvb wrote:
The system is destined to collapse just as a Ponzi Scheme would be.


I just don't see it happening particularly given the bailouts that have occurred since October '08. The drain on social services would be much costlier than any bailout of SS.

I'm more concerned about the ability of the big businesses that are allowed to retroactively trash retirement plans, and the fact that so few offer them anymore. Add in the fallacy of 401Ks being able to provide financial security when it's tied to something inherently insecure and I fear the real tragedy will be people not being able to retire at all. If I was a betting person, I'd start buying stock in Purina.


If you don't mind hyperinflation, there is no reason to worry.

The choices many businesses have is between failure and killing retirement plans and other hard-to-meet future obligations. There is a limit to what labor is worth. US rates of pay are flat or declining while commodities rise. Defined benefit plans are a thing of the past in private industry because of the uncertainty of investments. It's what is killing the US auto businesses. Defined contribution plans are risky as everyone was told in the fine print. Past performance is not an indicator of future returns. The trouble is, savings are chewed up by inflation. It's a lose-lose.

The biggest fallacy is that everyone can live and retire in relative luxury. Every chart of population or resources is a hockey stick up or inverted. It means our current lifestyles are not sustainable indefinitely. In economics, the "dismal science", there exist end-of- progress hypotheses. These are often ignored as pessimistic. But understand that resources are finite and population is growing geometrically.

The economic prosperity of the US in the last century was an anomaly. Resources were abundant and we got a nice head start but the rest of the world is catching up competitively as a result of our regulations, taxes, and high worker pay. The government's role in the last two decades is to let the US worker down as easily and as painlessly as possible. Inflation, debt and social programs are their tools.
mikeandgerry
 
Stoker Coal Boiler: Axeman-Anderson Anthratube 130-M

Re: Largest Ponzi Scam Ever Discovered!!

PostBy: billlindley On: Thu Mar 26, 2009 7:51 am

mikeandgerry wrote:
tvb wrote:
The system is destined to collapse just as a Ponzi Scheme would be.


I just don't see it happening particularly given the bailouts that have occurred since October '08. The drain on social services would be much costlier than any bailout of SS.

I'm more concerned about the ability of the big businesses that are allowed to retroactively trash retirement plans, and the fact that so few offer them anymore. Add in the fallacy of 401Ks being able to provide financial security when it's tied to something inherently insecure and I fear the real tragedy will be people not being able to retire at all. If I was a betting person, I'd start buying stock in Purina.


If you don't mind hyperinflation, there is no reason to worry.

The choices many businesses have is between failure and killing retirement plans and other hard-to-meet future obligations. There is a limit to what labor is worth. US rates of pay are flat or declining while commodities rise. Defined benefit plans are a thing of the past in private industry because of the uncertainty of investments. It's what is killing the US auto businesses. Defined contribution plans are risky as everyone was told in the fine print. Past performance is not an indicator of future returns. The trouble is, savings are chewed up by inflation. It's a lose-lose.

The biggest fallacy is that everyone can live and retire in relative luxury. Every chart of population or resources is a hockey stick up or inverted. It means our current lifestyles are not sustainable indefinitely. In economics, the "dismal science", there exist end-of- progress hypotheses. These are often ignored as pessimistic. But understand that resources are finite and population is growing geometrically.

The economic prosperity of the US in the last century was an anomaly. Resources were abundant and we got a nice head start but the rest of the world is catching up competitively as a result of our regulations, taxes, and high worker pay. The government's role in the last two decades is to let the US worker down as easily and as painlessly as possible. Inflation, debt and social programs are their tools.


Your going to get accused of being negative with all your darn truth! Nobody wants to truly understand and not everyone knows how to get the inforamtion.
billlindley
 
Stove/Furnace Make: Reading
Stove/Furnace Model: Lehigh RS-96

Re: Largest Ponzi Scam Ever Discovered!!

PostBy: samhill On: Thu Mar 26, 2009 9:20 am

In the first place I don`t think we can blame the US gov. for making us believe we needed more vehicles in a family than we have drivers, that our kids won`t live without the new pair of high priced shoes, cells, games not to mention the big boy & girl toys we all have. That was just being self centered & being conned by the marketers, as a nation we have to start taking some responsablity for the actions that we have taken.
samhill
 
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Re: Largest Ponzi Scam Ever Discovered!!

PostBy: samhill On: Thu Jun 28, 2012 7:56 am

I guess they are not done with this.
http://abcnews.go.com/Blotter/bernie-ma ... d=16663923
samhill
 
Hot Air Coal Stoker Furnace: keystoker 160
Hand Fed Coal Stove: hitzer 75 in garage
Stove/Furnace Make: keystoker/hitzer
Stove/Furnace Model: koker 160/ hitzer 75

Re: Largest Ponzi Scam Ever Discovered!!

PostBy: freetown fred On: Thu Jun 28, 2012 12:34 pm

Sam, you bored or just stirrin the pot? :clap: toothy
freetown fred
 
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Re: Largest Ponzi Scam Ever Discovered!!

PostBy: samhill On: Thu Jun 28, 2012 12:43 pm

That was sent to me by a old classmate that happens to be a CPA so he pays attention to that stuff, I thought it was all said & done.
samhill
 
Hot Air Coal Stoker Furnace: keystoker 160
Hand Fed Coal Stove: hitzer 75 in garage
Stove/Furnace Make: keystoker/hitzer
Stove/Furnace Model: koker 160/ hitzer 75

Re: Largest Ponzi Scam Ever Discovered!!

PostBy: lsayre On: Thu Jun 28, 2012 5:08 pm

The Federal Reserve, with its fiat money system combined with its fractional reserve banking and its "mark to fantasy" accounting methods (as opposed to "mark to market"), is actually by far the worlds largest Ponzi scam. Every dollar we own and every dollar we earn play their part in perpetuating the scam.
lsayre
 
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