Submitted by letsgetitdone on Fri, 09/16/2011 - 11:29pm
Rick Perry's loose talk about Social Security being a ponzi scheme, is generating a lot of contrary ink, or electronic bits as the case may be. Cullen Roche has provided an excellent analysis, accompanied by a great discussion which begins this way.
”First of all, let’s get the definition of a ponzi scheme right. According to the SEC, a ponzi scheme is “an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors.” Quite simply, a ponzi scheme involves the promise of future payments that current returns do not justify.”
So, a ponzi scheme is:
-- an investment opportunity Read below the fold...
Submitted by letsgetitdone on Tue, 04/05/2011 - 12:28pm
Ah.... my fellow Americans, be very, very, afraid of the terrible Social Security crisis that will sink us as a nation. According to Government projections, we won't be able to pay full Social Security benefits, in 2037 and beyond, unless we cut benefits now, because the Social Security “Trust Fund” will be short of money. Read below the fold...