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Political Talk
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Old 04-12-2013, 12:33 PM   #21
Wraisil
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I believe this is the first time in my life I have heard someone not administering one to refer to a ponzi scheme as a "program" that is perfectly fine.

You know who is responsible for my retirement? Me. Get the government out of it as soon as reasonably possible is the best suggestion I have heard. I can invest and get a much better rate of return on my own money than this ponzi scheme can put out (though eventually it will be a negative return on investment for people if it lasts long enough). It was a pretty nice return on investment if you retired in 1940, not so much today or 20 years from now.



Yep, the single guy who retired 3 years ago after working for 40 years with an average wage got a whopping 0.5% annual return on investment. (hint, had the same guy just put that money into a savings account he would have averaged over 6% annual return during that time).

Last edited by Wraisil; 04-12-2013 at 12:37 PM.
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Old 04-12-2013, 01:00 PM   #22
evolved
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I've said it before, and I stand by it. Someone who says SS is a ponzi scheme either doesn't understand what a ponzi scheme is, doesn't understand how SS works, both, or has a political axe to grind.
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Old 04-12-2013, 01:12 PM   #23
Wraisil
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Originally Posted by evolved View Post
I've said it before, and I stand by it. Someone who says SS is a ponzi scheme either doesn't understand what a ponzi scheme is, doesn't understand how SS works, both, or has a political axe to grind.
You can say it all you want, but the fact is that both operate with a need for new investors to continually provide more money to stay solvent and make the payments to the earlier investors. When insufficient new investors are available or unwilling to provide the increasing amounts of investments then the system eventually fails.

The only significant difference between the two is that a ponzi scheme uses high returns on investment to attract new investors and additional money to remain solvent and social security does it by forcing people to pay into the system by law.

It isn't "technically" a ponzi scheme, but it is just as bad in the long run. Eventually people who paid in late enough in the scheme will not see any returns from their money (barring some miracle anyway).

Until someone comes up with a new term for a "financial system which has initial investors paid their promised returns only through having new investors pay money with only the promise of receiving returns in the future" then ponzi scheme is the closest term with which to identify a system which, by it's very nature, will eventually fail. How much the "return" payments are, when they can be collected, etc can all be adjusted to extend how long the system lasts, but it will inevitably fail in any reasonable prediction.

Last edited by Wraisil; 04-12-2013 at 01:21 PM.
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Old 04-12-2013, 04:28 PM   #24
badfast
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That you're a leech who doesn't even lift.

Sent from my HTC Glacier using Bimmer App
He only wishes. And this guy lifts...bro.
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Old 04-12-2013, 04:48 PM   #25
bimmerfan08
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He only wishes. And this guy lifts...bro.
That wasn't even my comment. And this guy too, lifts.
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"They". Again with this idea that white people are a singular organism with a single will.

Individuals make choices and take actions. Sometimes their race informs their choices and actions, sometimes it does not.
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Old 04-13-2013, 12:27 AM   #26
MPOWERD
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All of you are pencil necks.

Last edited by MPOWERD; 04-13-2013 at 12:28 AM.
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Old 04-13-2013, 12:32 AM   #27
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Haha
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