* "A Ponzi scheme is a fraudulent investment operation that pays returns to separate investors from their own money or money paid by subsequent investors, rather than from any actual profit earned."
The best examples are governments which go deeply into debt and depend on more and more immigrants to build a wider base from which taxes can be raised to pay those reaching retirement age. However with more and more entitlements the task is sure to collapse at some future point.
Greece 2010 is a prime example...just kept borrowing and borrowing until they couldn't borrow any more. It is just the same on the family level. It's not rocket science.
For more on "All the World's a Ponzi Scheme" visit the site below.
http://radar.oreilly.com/2009/01/the-biggest-ponzi-scheme-of-all.html
No comments:
Post a Comment