blog: archive

February 28, 2011


Bernie makes an excellent point…

by Peggy Drinkard

Noticed this headline in today’s news: “Madoff to NY magazine: Government a Ponzi scheme.” If you stop and think about it, he’s closer to right than we might want to admit. If a ponzi scheme is a practice in which investors are urged to invest in something with promises of large returns, then the payout of early investors is funded by the investments of investors coming behind them…well, sounds at the very least like Social Security and, in fact, much of the stuff that has gotten us on the brink of national bankruptcy. Perhap’s Bernie wonders why what’s good for the goose is not good for the gander.

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