Obamanomics: A Ponzi Scheme?

Rick Perry has come under fire for calling Social Security a Ponzi Scheme. It would be a safe bet that most people do not understand the definition of a Ponzi Scheme. According to Investopedia “a Ponzi Scheme is a fraudulent investing scam that promises high rates of return at little risk to investors. The scheme generates returns for older investors by acquiring new investors. This scam actually yields the promised returns to earlier investors, as long as there are more new investors. The Ponzi scam is named after Charles Ponzi, a clerk in Boston who first orchestrated such a scheme in 1919. A Ponzi scheme is similar to a pyramid scheme in that both are based on using new investors’ funds to pay the earlier backers. One difference between the two schemes is that the Ponzi mastermind gathers all relevant funds from new investors and then distributes them. Pyramid schemes, on the other hand, allow each investor to directly benefit depending on how many new investors are recruited. In this case, the person on the top of the pyramid does not at any point have access to all the money in the system. For both schemes, however, eventually there isn’t enough money to go around and the schemes unravel.” So think about this for a bit. What does social security do? Takes money from new workers and promises payments to retired workers. And guess what, just like the Ponzi Scheme, Social Security is out of money and the scheme is about to unravel. If a private company would try to do something similar to Social Security they would be taken to court.

Obamanomics seems to be the same sort of plan. We spend money now at a record pace to supposed promises of greatness down the road. Somehow generations from now we’re supposed to be able to pay for current spending, but that of course is always left out of the plan. Obama’s supposed jobs speech will be filled with more “stimulus” spending with buzz words like investments or infrastructure spending. Increased taxes on the supposed rich will be where Obama claims to get this money. Further taxing on an already overtaxed nation will do nothing but stifle any possible job creation as investors and entrepreneurs either save their money or use it elsewhere. Just like the Ponzi Scheme it is doomed to fail.

http://conservativebyte.com/2011/09/oba ... zi-scheme/

more proof that most people, including Rick Perry, really don't understand what a ponzi scheme is, and try to apply it where is doesn't fit.

About the same way they still don't understand the meaning of the word "socialist"...

Idiots

Wow, I hear it on Rush Limbaugh in the afternoon and see it here on the forum that evening.

Yes...I'm shocked, I tell you! Shocked!

You mean all I have to do is listen to Rush, and I wouldn't have to read the conservatives posts here? cool, maybe they could just post a link to Rush's show.

Yes, and there's another site you should know about:

News Hounds
We watch FOX so you don't have to.

http://www.newshounds.us/

Perry was talking about Social Security. And gee, I had no idea Obama invented Social Security.

How long has Social Security been around? About 75 years? Can anyone name a Ponzi scheme that's lasted anywhere near that long?

I had to laugh at El Rushbo today when he swooned over Bachman and said she didn't say anything stupid during the debate (that's now something to brag about?). I guess he forgot Bachman's plegge to bring back $2 a gallon gasoline, if she is elected president. I think it was Huntsman who countered that he didn't think the federal government has any business dictating prices in the free enterprise system.

LadyJazzer wrote: Yes, and there's another site you should know about:

News Hounds
We watch FOX so you don't have to.

http://www.newshounds.us/

Now that's what I call a public service.