OK. It's not all that new, but it can make you and me rich!
Here's what it will do.
You send me money...any amount of money...it doesn't matter how much.
I will guarantee you a return of your investment with interest.
In exchange, I will keep a small portion of your money for myself, to use as I please.
Now, the way I will pay you will be by enrolling new "members" into my plan.
I will use their money to pay you, so that your return is realized in a timely manner.
If you stop "contributing" to the system, don't worry. We'll enroll enough new people to keep your payments coming, and if not, we'll just charge more to get into the system.
I promise to set up a "fund" from which to make payments to you in case the system is not bringing in enough cash at any given moment.
Doesn't that sound like a good deal?
It's called a Ponzi scheme.
A Ponzi scheme is a fraudulent investment operation that pays returns to separate investors, not from any actual profit earned by the organization, but from their own money or money paid by subsequent investors.
The Ponzi scheme entices new investors by offering returns other investments cannot guarantee, in the form of short-term returns that are either abnormally high or unusually consistent.
The perpetuation of the returns that a Ponzi scheme advertises and pays requires an ever-increasing flow of money from investors to keep the scheme going.
The system is destined to collapse because the earnings, if any, are less than the payments to investors.
It's the deal that sent Bernie Madoff to prison.
It's also the deal you get with Social Security.
The money you pay in now is not used to pay you when you retire; it is used to pay those who are presently retired.
The money you get when you retire will come from those who are still working when you retire.
Turns out that Rick Perry was right.
15 comments:
I'll accept the "Ponzi scheme" comparison with social security, right after they prosecute those politicians that took the money out of the system for political expedience!!
If it wasn't for those that put the I.O.U.'s in the safe, S.S. wouldn't in the condition is it now.
But, of course that will happen right after Dodd and Frank are brought up on charges.
If liberal programs like social security are so wonderful, why are people forced to participate? liberals don't know the meaning of the words, "voluntary," or "optional."
Since social security is mandatory, it is more of a protection racket than a ponzi scheme. Pay us to protect you, or we'll send over a couple of boys to convince you.
At least ponzi schemes victimize only the gullible.
The money you pay in now is not used to pay you when you retire; it is used to pay those who are presently retired.
Which means I won't see one penny of anything I have given to SS. Now I'm depressed.
Scotty: OK, but don't hold your breath.
LR: I like the protection racket idea.
Leticia: Hopefully, someone will come to their senses and replace the present system with one that works; that is: one that is a real investment program and is voluntary.
the whole scenario is so upsetting...and Hussein O wants to rob us all!
WHT: An aquaintence of mine said yesterdsy, "Republicans just don't want to help the Democrats."
Help them what?
Ruin our country?
Darn right I don't want to help them.
When SS was put in place the average life span was 65 and there was 16 people working for each retiree. Now the average life span is 72 and there are 3 people working per retiree.
Like every social program it has run its course and then some.
Liberals are always cry we have to change because times are changing of course except when it's political so they scream about how much smarter they are and how the right is "out of touch", racist and uneducated.
Stimulus 1 didn’t work, neither did Stimulus 2, neither did his bail outs, or his clunker program, etc., etc. and etc. If they want "Change" then maybe Moochie should spend some of her vacation money (10 Million dollars) in the USA. Instead of in Africa and Spain, Latin America, Ireland, and in Great Britain.
That might Stimulate the Economy!
Joe, we can hope, but I am not holding my breath.
Herman Cain says, "I don't care what you call it, it's broken!"
Actually, Lisa, when SS was put in place, the median age for men was 53 and for women 58. So, it was a huge scam from the git-go. FDR knew that dead people could not collect benefits.
Joe, are you okay? Feeling all right?
Perry is right....
The problem is so many people believed in it and expect to get it!
I wonder what will happen..
I'm with Leticia...I came by mostly to see how you're doing, Joe. Blessing to you..xx
Leticia (and others): I have had 8 shots in my back, one in my hip, recovering from heart procedures and other stuff, along with work and just haven't had the energy to post lately.
Hopefully I'll feel better next week.
Here's hopping that you will feel better soon Joe.
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